The Ultra-Wideband Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Ultra-Wideband Global Market Report 2024, The ultra-wideband market size has grown rapidly in recent years. It will grow from $1.42 billion in 2023 to $1.67 billion in 2024 at a compound annual growth rate (CAGR) of 17.3%. The growth in the historic period can be attributed to wireless communication advancements, consumer electronics integration, emergence of real-time location systems (rtls), automotive connectivity requirements, security and impulse radio advancements, regulatory support and spectrum allocation, demand for high-data-rate wireless networks, smart home and automation systems..
The ultra-wideband market size is expected to see rapid growth in the next few years. It will grow to $3.07 billion in 2028 at a compound annual growth rate (CAGR) of 16.5%. The growth in the forecast period can be attributed to increasing demand for precise indoor positioning, uwb in smart cities and infrastructure, uwb in automotive radar systems, emergence of uwb-based access control systems, integration in smart agriculture, uwb-based healthcare wearables.. Major trends in the forecast period include adoption in smartphones, uwb for secure access control, uwb in robotics and automation, uwb for secure transactions, investments in uwb technology, collaborations for uwb-based solutions..
The increasing demand for consumer electronics is expected to propel the growth of the ultra-wideband market going forward. Consumer electronics refers to any electronic gadget designed for everyday, private, or professional use by consumers or end users. Ultra-wideband (UWB) in consumer electronics facilitates high-speed data transfer, precise location tracking, and reliable connectivity, enhancing user experiences in devices such as smartphones, smartwatches, and wireless peripherals. For instance, in May 2023, according to the Japan Electronics and Information Technology Industries Association, a Japan-based trade association, the total electronic equipment production in Japan reached $52,36,535 million. In addition, consumer electronics production reached $2,178,430 million in May 2023, compared to $1,714,724 million in May 2022. Therefore, increasing demand for consumer electronics is driving the growth of the ultra-wideband market.
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The ultra-wideband market covered in this report is segmented –
1) By Type: Impulse Radio, Multiband Ultra-Wideband
2) By System: Vehicular Radar System, Imaging Systems, Communication And Measurement Systems
3) By Application: RTLS (Real-Time Location System) Or WNS (Wireless Networking Services), Imaging, Communication, Other Applications
4) By Vertical: Healthcare, Automotive And Transportation, Manufacturing, Consumer Electronics, Retail, Residential, Other Verticals
Technological advancement is a key trend gaining popularity in the ultra-wideband market. Major companies operating in the ultra-wideband market are focused on developing and launching new technological ultra-wideband solutions to strengthen their position in the market. For instance, in February 2022, Verizon Communications Inc., a US-based telecommunications company launched 5G ultra-wideband in 3 more markets such as Sacramento, Seattle and Pensacola, Florida. The 5th generation ultra-wideband service uses millimeter wave (mmWave) spectrum and offers the fastest connection to the users.
The ultra-wideband market report table of contents includes:
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