Ultra-Wideband Market -Forecast (2021 - 2026)
Ultra-Wideband Market size is projected to reach US$ 3.2 billion by 2026, and it is estimated to grow at around CAGR 19.4% during 2021-2026. The growth of ultra-wideband market is majorly attributed to the increasing demand for precise and accurate real-time asset and personnel tracking solutions. Increasing popularity of UWB technology among consumers due to its low power requirement, low cost solution, high data rate transition and ability to reduce inter-symbol interference has significantly triggered the market growth. With increasing adoption of real-time location solution for indoor imaging system in industrial applications to streamline and automate business operations increasing efficiency and creating new opportunities the demand for Ultra-wideband market has gained a huge traction. The beneficial capabilities and feasibility of using multi-band orthogonal frequency division multiplexing (OFDM) UWB for wireless communication in asset monitoring are stimulating the market. Rising adoption of ultra-wideband based wireless sensor network with an extremely narrow pulse enabling high speed transmission of data is augmenting the market. Furthermore, potential application of UWB radar imaging in medical field is analyzed to boost the market.
Ultra-Wideband Market Report Coverage
The report: “Ultra-Wideband Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ultra-Wideband Market.
By Offering: Hardware (Tags, sensors, vision reader, Wand module, anchors, others), software, services
By positioning system: indoor, outdoor
By application: real time location tracking (asset/inventory tracking, vehicle/fleet tracking, personnel tracking, shipping container tracking, patient tracking, others), passive keyless entry & ignition, remote sensing & medical imaging, communication, others
By End User: Industrial (Automotive, Defense, BFSI, Healthcare, Food & beverages, Power, Retail & e-commerce, Utilities, Logistics & transportation, Oil & Gas, Others), Commercial (Restaurants & hotels, shopping malls, stadiums, travel & tourism, others), Residential/ consumer electronics
By Geography: North America(U.S., Canada and Mexico); Europe(U.K., Germany, Italy, France, Spain, Russia,Rest of Europe); APAC (China, Japan, South Korea, India, Australia,Rest of APAC); South America(Brazil, Argentina, Rest of Americas) & RoW (Middle East & Africa)
Key Takeaways
Consumer electronics is estimated to account for the largest market share during 2021-2026 due to increasing popularity among consumers for its low power and low cost solutions.
North America is estimated to dominate the market during 2021-2026 owing to high investments towards up-gradation of advanced technologies and massive adoption of indoor positioning and navigation system.
Increasing adoption of Real time location systems and massive transition towards wireless technology are driving the market.
Complexity in channel estimation is analyzed to impede the market growth during 2021-2026.
By positioning system, Ultra-Wideband market is segmented into Indoor positioning system and Outdoor positioning system. Indoor positioning system dominated the market in 2020 with a market share of 64% and is estimated to hold the largest market share by 2026 owing to rising demand for precise and fast indoor localization in industrial environments. Increasing adoption of geo-fencing accelerating intelligent process automation to speed up the operations has contributed to the growth of the market. Rising demand for UWB technology for robot localization technique is anticipated to drive the market. According to reports, in October 2020, NXP extended its ultra-wideband portfolio to optimize IoT use cases such as RTLS with high accuracy. Such developments are analyzed to stimulate the market growth during 2021-2026.
Ultra-Wideband Market Segment Analysis – By End user
By end user, Ultra-Wideband market is segmented into industrial and consumer electronics sector. Consumer electronics dominated the market in 2020 acquiring a share of 57% and is analyzed to dominate the Ultra-Wideband market during 2021-2026 with a CAGR 9.67% owing to wide range of applications in home consumer electronics such as MP3 players, personal digital assistants (PDA), PC, HDTVs. Increasing adoption of high end smartphones, key fobs leveraging UWB technology is also stimulating the market. Increasing penetration of smart cities and smart homes with the continuous advancements in IIoTs have contributed to the growth of the market. In September 2020, Tesla announced to integrate ultra-wideband technology into Apple CarKey for its future vehicles and such developments are set to drive the market. In industrial sector, Logistics and transportation is analyzed to witness significant market growth during 2021-2026 owing to increasing penetration of digitalization for real-time asset tracking and monitoring, robot localization and transmission of sensory data to optimize the whole automation process.
Ultra-Wideband Market Segment Analysis – By Geography
By Geography, ultra-wideband market is segmented into North America, Europe, APAC, South America and RoW. North America dominated the Ultra-Wideband Market in 2020 acquiring a share of 36% and is estimated to hold the major ultra-wideband market share with a CAGR 12.45% during 2021-2026 owing to early adoption of wireless sensor network, massive penetration of indoor positioning and navigation system, advancements in medical imaging and high investments towards up-gradation of latest technologies. In February 2021, Belgian company Pozyx announced to open its office in US to expand its positioning based ultra-wideband technology in North America. APAC is estimated to be the fastest growing market with a CAGR 14.67% during the forecast period 2021-2026 owing to rapid industrialization, quick and massive adoption of digitalization, quick deployment of 5G infrastructure and shift towards wireless communication. South-east Asia is anticipated to be the hot-zone for establishing smart manufacturing hubs from 2021 to 2026 and thus augmenting the market.
Ultra-Wideband Market Drivers
Increasing adoption of real-time location system in industrial applications
Increasing convergence of operational technologies with digitalization for accurate real-time location tracking and monitoring of asset and every operational process enhancing overall efficiency have contributed to the growth of the market. The growth of the market is propelled by increasing adoption of UWB based real time location system analyzing complex location data to gain insight for controlling intralogistics and material flow enabling industry 4.0 to become reality. In June, 2019 NXP introduced enhanced security access with localization leveraging ultra-wideband technology for automotive and other IoT applications and such developments are augmenting the market.
Increasing transition towards wireless communication
Traditional wired systems in industries require physical cabling between machines, which need to go through hazardous areas and may connect to moving parts, increasing the need for maintenance and risk of failure. On the other hand, the fixed infrastructure of wired system cannot be configured easily to make more efficient use of machinery or to adapt to changing demand. Moreover, wired technologies require more administrative costs to install wiring system throughout the factory. These drawbacks of wired system are accelerating the adoption of wireless technologies. The UWB technology of wireless network operates at a very high frequency using very low energy offering a myriad of new services for enterprises and consumers such as hands free access control, location based services and such benefits are anticipated to boost the market growth during forecast period 2021-2026. According to reports, in February 2021, US based telecom equipment supplier Pivotal Commware raised USD 50 million for expansion and development of ultra-wideband 5G communications and such investments are set to boost the market.
Ultra-Wideband Market Challenges
Complicated channel estimation
The wide range of frequency in UWB spectrum and the reduced signal energy cause pulse distortion and thus the channel estimation in UWB communication systems becomes very complicated. Due to this complexity in channel estimation the adoption of UWB is hampered.
Ultra-Wideband Market Landscape
Technology launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Ultra-Wideband Market. In 2020, the market of Ultra-wideband industry outlook has been fragmented by several companies. Ultra-Wideband top 10 companies include Zebra Technologies Corporation, DecaWave Ltd., Taiyo Yuden CO., LTD., Nanotron Technologies GmbH, 5D Robotics, Inc., Johanson Technology, Inc., Pulse ~LINK, Inc., BeSpoon SAS, Alereon, Inc., Samsung Electronics Co., Ltd. and others.
Acquisitions/Technology Launches
In February 2021, UWB Alliance announced its collaboration with Omlox to foster the expansion of UWB technology globally.
In February 2021, Zyter announced to choose Verizon’s 5G ultra-wideband technology for optimizing sports and entertainment venue operations to deliver an immersive and smarter audience experience.
Ultra-Wideband Market Report Coverage
The report: “Ultra-Wideband Market Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Ultra-Wideband Market.
By Offering: Hardware (Tags, sensors, vision reader, Wand module, anchors, others), software, services
By positioning system: indoor, outdoor
By application: real time location tracking (asset/inventory tracking, vehicle/fleet tracking, personnel tracking, shipping container tracking, patient tracking, others), passive keyless entry & ignition, remote sensing & medical imaging, communication, others
By End User: Industrial (Automotive, Defense, BFSI, Healthcare, Food & beverages, Power, Retail & e-commerce, Utilities, Logistics & transportation, Oil & Gas, Others), Commercial (Restaurants & hotels, shopping malls, stadiums, travel & tourism, others), Residential/ consumer electronics
By Geography: North America(U.S., Canada and Mexico); Europe(U.K., Germany, Italy, France, Spain, Russia,Rest of Europe); APAC (China, Japan, South Korea, India, Australia,Rest of APAC); South America(Brazil, Argentina, Rest of Americas) & RoW (Middle East & Africa)
Key Takeaways
Consumer electronics is estimated to account for the largest market share during 2021-2026 due to increasing popularity among consumers for its low power and low cost solutions.
North America is estimated to dominate the market during 2021-2026 owing to high investments towards up-gradation of advanced technologies and massive adoption of indoor positioning and navigation system.
Increasing adoption of Real time location systems and massive transition towards wireless technology are driving the market.
Complexity in channel estimation is analyzed to impede the market growth during 2021-2026.
By positioning system, Ultra-Wideband market is segmented into Indoor positioning system and Outdoor positioning system. Indoor positioning system dominated the market in 2020 with a market share of 64% and is estimated to hold the largest market share by 2026 owing to rising demand for precise and fast indoor localization in industrial environments. Increasing adoption of geo-fencing accelerating intelligent process automation to speed up the operations has contributed to the growth of the market. Rising demand for UWB technology for robot localization technique is anticipated to drive the market. According to reports, in October 2020, NXP extended its ultra-wideband portfolio to optimize IoT use cases such as RTLS with high accuracy. Such developments are analyzed to stimulate the market growth during 2021-2026.
Ultra-Wideband Market Segment Analysis – By End user
By end user, Ultra-Wideband market is segmented into industrial and consumer electronics sector. Consumer electronics dominated the market in 2020 acquiring a share of 57% and is analyzed to dominate the Ultra-Wideband market during 2021-2026 with a CAGR 9.67% owing to wide range of applications in home consumer electronics such as MP3 players, personal digital assistants (PDA), PC, HDTVs. Increasing adoption of high end smartphones, key fobs leveraging UWB technology is also stimulating the market. Increasing penetration of smart cities and smart homes with the continuous advancements in IIoTs have contributed to the growth of the market. In September 2020, Tesla announced to integrate ultra-wideband technology into Apple CarKey for its future vehicles and such developments are set to drive the market. In industrial sector, Logistics and transportation is analyzed to witness significant market growth during 2021-2026 owing to increasing penetration of digitalization for real-time asset tracking and monitoring, robot localization and transmission of sensory data to optimize the whole automation process.
Ultra-Wideband Market Segment Analysis – By Geography
By Geography, ultra-wideband market is segmented into North America, Europe, APAC, South America and RoW. North America dominated the Ultra-Wideband Market in 2020 acquiring a share of 36% and is estimated to hold the major ultra-wideband market share with a CAGR 12.45% during 2021-2026 owing to early adoption of wireless sensor network, massive penetration of indoor positioning and navigation system, advancements in medical imaging and high investments towards up-gradation of latest technologies. In February 2021, Belgian company Pozyx announced to open its office in US to expand its positioning based ultra-wideband technology in North America. APAC is estimated to be the fastest growing market with a CAGR 14.67% during the forecast period 2021-2026 owing to rapid industrialization, quick and massive adoption of digitalization, quick deployment of 5G infrastructure and shift towards wireless communication. South-east Asia is anticipated to be the hot-zone for establishing smart manufacturing hubs from 2021 to 2026 and thus augmenting the market.
Ultra-Wideband Market Drivers
Increasing adoption of real-time location system in industrial applications
Increasing convergence of operational technologies with digitalization for accurate real-time location tracking and monitoring of asset and every operational process enhancing overall efficiency have contributed to the growth of the market. The growth of the market is propelled by increasing adoption of UWB based real time location system analyzing complex location data to gain insight for controlling intralogistics and material flow enabling industry 4.0 to become reality. In June, 2019 NXP introduced enhanced security access with localization leveraging ultra-wideband technology for automotive and other IoT applications and such developments are augmenting the market.
Increasing transition towards wireless communication
Traditional wired systems in industries require physical cabling between machines, which need to go through hazardous areas and may connect to moving parts, increasing the need for maintenance and risk of failure. On the other hand, the fixed infrastructure of wired system cannot be configured easily to make more efficient use of machinery or to adapt to changing demand. Moreover, wired technologies require more administrative costs to install wiring system throughout the factory. These drawbacks of wired system are accelerating the adoption of wireless technologies. The UWB technology of wireless network operates at a very high frequency using very low energy offering a myriad of new services for enterprises and consumers such as hands free access control, location based services and such benefits are anticipated to boost the market growth during forecast period 2021-2026. According to reports, in February 2021, US based telecom equipment supplier Pivotal Commware raised USD 50 million for expansion and development of ultra-wideband 5G communications and such investments are set to boost the market.
Ultra-Wideband Market Challenges
Complicated channel estimation
The wide range of frequency in UWB spectrum and the reduced signal energy cause pulse distortion and thus the channel estimation in UWB communication systems becomes very complicated. Due to this complexity in channel estimation the adoption of UWB is hampered.
Ultra-Wideband Market Landscape
Technology launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Ultra-Wideband Market. In 2020, the market of Ultra-wideband industry outlook has been fragmented by several companies. Ultra-Wideband top 10 companies include Zebra Technologies Corporation, DecaWave Ltd., Taiyo Yuden CO., LTD., Nanotron Technologies GmbH, 5D Robotics, Inc., Johanson Technology, Inc., Pulse ~LINK, Inc., BeSpoon SAS, Alereon, Inc., Samsung Electronics Co., Ltd. and others.
Acquisitions/Technology Launches
In February 2021, UWB Alliance announced its collaboration with Omlox to foster the expansion of UWB technology globally.
In February 2021, Zyter announced to choose Verizon’s 5G ultra-wideband technology for optimizing sports and entertainment venue operations to deliver an immersive and smarter audience experience.
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