Selbyville, Delaware, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Ultra-wideband Market was valued at USD 1.7 Billion in 2023 and is projected to be worth USD 9 billion by the end of 2032, as per a recent study by Global Market Insights Inc.
UWB technology offers enhanced precision in location tracking, faster data transfer rates, and superior signal processing, making it increasingly attractive across various sectors. The unique ability of UWB to deliver high-resolution positioning and tracking in complex environments is boosting its use in applications such as asset tracking, indoor navigation, and smart home systems. Key industries, including logistics, retail, and healthcare, are leveraging UWB to improve operational efficiency and user experiences. The technology’s high accuracy in positioning, even in indoor settings, continues to drive its adoption in these sectors.
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In terms of positioning systems, the Ultra-wideband market is categorized into indoor and outdoor systems. The indoor positioning system segment is projected to grow at over 20% CAGR during the forecast period. This growth is fueled by the growing necessity for precise location tracking in indoor environments for applications like asset management and personnel tracking. Sectors such as retail, healthcare, and logistics particularly benefit from this precision, improving efficiency and customer service.
Based on application, the Ultra-wideband market is segmented into Real-Time Location Systems (RTLS), imaging, communication, and others. The imaging segment is projected to lead the market, with expected revenues surpassing USD 2 billion by 2032. UWB’s ability to provide high-resolution imaging and excellent penetration through various materials positions it as a key technology in industries like healthcare, automotive, and consumer electronics, where real-time sensing and accurate positioning are essential.
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North America ultra-wideband market held more than 35% of the market share in 2023. The region’s emphasis on technological invention, particularly in smart devices and automotive sectors, has driven UWB adoption. Additionally, the presence of major tech companies and startups across the U.S. and Canada has accelerated the development of UWB applications, including precise indoor positioning, secure access control, and fast data transmission. Government initiatives supporting innovations in communication technologies further contribute to market expansion.
Ultra-wideband Market Players
Companies including Apple, Humatics Corporation, NXP Semiconductors, Pulse Link, Qorvo Inc., Samsung Electronics Co., Ltd., Zebra Technologies are some firms working in ultra-wideband industry.
The ultra-wideband market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD million) from 2021 to 2032, for the following segments:
Market, By Positioning System
- Indoor positioning system
- Outdoor positioning system
Market, By Application
- Real-Time Location System (RTLS)
- Imaging
- Communication
- Others
Market, By End-Use
- Residential
- Automotive & transportation
- Manufacturing
- Consumer electronics
- Retail
- Others
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
