The report "Ultra-Wideband Market by Application (RTLS, Imaging, Communication), Positioning system (Indoor, Outdoor), Vertical (Healthcare, Automotive & Transportation, Manufacturing, Consumer Electronics, Residential, Retail), & Geography - Global Forecast to 2025" This market is expected to reach from USD 1.1 billion in 2021 to USD 2.7 billion by 2025, at a CAGR of 19.6%. The increasing requirement for ultra-wideband technology in RTLS applications, and proliferation in Induatrial Internet of Things are key factors driving the growth of this market.
Browse 76 market data Tables and 37 Figures spread through 137 Pages and in-depth TOC on "Ultra-Wideband Market by Application (RTLS, Imaging, Communication), Positioning system (Indoor, Outdoor), Vertical (Healthcare, Automotive & Transportation, Manufacturing, Consumer Electronics, Residential, Retail), & Geography - Global Forecast to 2025"
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RTLS segment is expected to grow at the highest CAGR in the forecast period
The RTLS application segment of the UWB market has been witnessing growth over the years since UWB technology-based RTLS solutions are especially used by various industries for precise and real-time tracking of industrial assets, material flow, and employee location. UWB-based RTLS solutions find applications in fleet management, staff management, pallet tracking, inventory management, etc. The growing adoption of RTLS solutions in industrial environment for employee tracking, as well as to get visibility of supply chain, products, machinery, and raw materials is adding an advantage for market growth. Asia Pacific is expected to be the fastest-growing market for UWB-based RTLS solutions, in terms of value, during the forecast period. The constant surge in demand for real-time location tracking technology in Asia Pacific is expected to offer significant growth opportunities for the providers of the highly precise RTLS equipment in Asia Pacific. Moreover, the surging defense budget of developing countries in Asia Pacific will accelerate the UWB market growth in the region during the forecast period.
APAC to account for the fastest growing market in 2022
Increasing use of indoor positioning systems in smart homes and growing defense budgets in developing countries of APAC, such as China and India, propel the growth of the UWB market in APAC. The region holds a major position in the automotive sector. Moreover, with the growing government mandates regarding safety features in automobiles in developing countries of APAC, the market for UWB-based vehicular radar solutions is expected to witness significant growth during the forecast period. UWB technology is widely used in robot localization technology in Japan and China. Moreover, the manufacturing industry in China uses UWB-based RTLS systems to reduce production downtime and increase the overall operational efficiency of the production facilities. UWB technology is also gaining momentum in retail management applications in China. Retail players such as Bailian (Brilliance) Group and GOME Home Appliance Group are using UWB-based tags for retail management
The report profiles the most promising players in the Ultra-Wideband Market. The markets competitive landscape presents an interesting picture of strategies adopted by many players. DecaWave Ltd. (acquired by Qorvo (US)), Apple Inc. (US), Pulse Link, Inc. (US), NXP Semiconductors N.V. (Netherlands), Texas Instruments (US), Samsung Electronics Co., Ltd. (South Korea), Sony (Japan), are few dominant players in the Ultra-Wideband Market.
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