Ultra-Wide Band Market Projected to Hit USD 4.717 Billion at a 21.60% CAGR by 2030 – Report by Market Research Future (MRFR)
Research Reports
Aug 23, 2023
Market Overview
Ultra-Wide Band Market Size was valued at USD 1.2 billion in 2022. The Ultra-wide band market is projected to grow from USD 1.4 Billion in 2023 to USD 4.717 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 21.60% during the forecast period (2023 – 2030). Investment in R&D is increasing, paving the way for innovations, and Electronics are being produced more frequently ly are the key market drivers enhancing the market growth.
The growing prevalence of digitalization in both healthcare and retail is generating a significant surge in digital data. This surge presents promising prospects for the ultra-wideband market in the foreseeable future. This is primarily driven by the escalating demand for technology that ensures the seamless transmission of data, unhindered by obstacles. Consequently, this technological need is playing a pivotal role in propelling the expansion of the market.
Key Players
Dominant Key Players on Ultra-Wideband Market Covered are:
- Taiyo Yuden Co Ltd. (Japan)
- 5D Robotics Inc. (US)
- Pulse LINK Inc. (US)
- Alereon Inc. (US)
- Johanson Technology Inc. (US)
- Nanotron Technologies GmbH (Germany)
- DecaWave Ltd. (Ireland)
- Fractus Antennas S.L. (Spain)
- BeSpoon SAS (France)
- Zebra Technologies Corporation (US)
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Scope of the Report – Ultra-Wide Band Market:
|
Report Metrics |
Details |
|
Market Size by 2030 |
USD 4.717 Billion |
|
CAGR during 2023-2030 |
21.60% |
|
Base Year |
2022 |
|
Forecast |
2023-2030 |
Segmentation
The global ultra-wideband market can be categorized into different segments based on type, system type, technology, application, service, and end user.
In terms of type, the leading segment driving market growth during the forecast period is the impulse radio segment. This segment offers robust and carrier-free data transmissions, making it a preferred choice.
Within the system type category, imaging systems are set to dominate the market over the forecast period. They offer the highest frequency range and find extensive applications in various industries.
The technology segment poised for leadership is short-range technology, primarily due to its growing role in facilitating digital data transfer among users.
In the realm of applications, imaging systems will capture the largest market share. This is attributed to the rising demand for imaging systems in clinical applications.
Among services, location-based services will take precedence over the forecast period. These services complement real-time tracking systems and contribute to robust growth rates.
Finally, within the end-user category, the aviation sector is expected to hold the largest market share. This is driven by the increasing demand for wireless communication in aviation, which translates to lower maintenance costs.
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Market USP Exclusively Encompassed:
Market Drivers
Rising RTLS Application Demand Driving Market Growth The increasing need for ultra-wideband technology in real-time location systems (RTLS) applications is set to propel market growth in the coming years. RTLS is employed for the live tracking and tracing of individuals and assets using radio frequency signals.
Market Growth Hindered by Channel Estimation Complexities Complexities in channel estimation could potentially restrain market growth during the forecast period. Additionally, interference from other narrowband wireless systems might hinder market expansion.
Market Facing Challenges Due to Low Network Latency The market faces several challenges, including low network latency, limited throughput, reduced range, premium pricing of UWB technology, and the requirement for extensive frequency technology, all of which may pose obstacles during the forecast period.
Browse In-depth Market Research Report (100 Pages, Charts, Tables, Figures) Ultra-Wide Band Market– https://www.marketresearchfuture.com/reports/ultra-wideband-market-2367
Regional Analysis
North America Takes the Helm in Ultra-wideband Market
North America is poised to assume a leadership role in the ultra-wideband market during the forecast period. Several factors contribute to this dominance, including the region’s significant presence of key ultra-wideband components, a robust acceptance rate of ultra-wideband-based businesses, advancements in real-time location services, widespread adoption of ultra-wideband for real-time location services in industrial processes, the ability to enhance channel capacity through shared frequency spectrum owing to ample bandwidth availability, a strong focus in the US and Canada on delivering swift and precise data transmission across terminals, the concentration of leading market players in both Canada and the US, and the extensive utilization of ultra-wideband-based Wireless Sensor Networks (WSN) and Real-Time Location Systems (RTLS) technologies in the healthcare and retail sectors. All these factors are collectively propelling the growth of the global ultra-wideband market in the North American region.
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