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" is estimated to grow from USD 1.1 billion in 2020 to USD 2.7 billion by 2025, at a CAGR of 19.6%. Major factors driving the growth of the UWB market include the rising demand for UWB technology in RTLS applications, the growing deployment of this technology in mobile devices, and the increasing adoption of the Industrial Internet of Things (IIoT).
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Ultra-wideband Market and Top End-user Industries
- Consumer Electronics − UWB would be the fastest-growing technology, which is expected to significantly improve the consumer’s experience related to home entertainment products, such as TVs, laptops, and audio equipment. UWB enables wireless connections at speeds of 110 Mbit/s and greater, making it perfect for connecting televisions to DVD players and recorders, personal video recorders (PVRs), and home audio equipment. UWB meets the low power requirements of handheld electronics and provides the low-cost solution necessary for wide consumer adoption.
- Healthcare −UWB technology is widely used in RTLS solutions for tracking and monitoring hospital assets, patients, healthcare professionals, and hygiene inside the hospitals. Hospitals across North America and Europe spend a considerable amount toward replacing lost equipment and looking after medical equipment and people both personnel and patients. In most cases, the precise location of the assets is the key parameter considered while designing RTLS solutions for the healthcare vertical. All these factors have created huge opportunities for UWB-based RTLS solutions, which are usually used to track and monitor assets and people to increase the efficient workflow and enhanced patient throughput.
- Retail − Retailers are looking for location-related information of products and employees in the store, combined with the ability to uniquely identify customers, employees, and goods in real time. Using traditional techniques such as papers and barcodes, the stock-related information is lost while being distributed as the labels fell off, and the paperwork gets lost in retail stores. However, UWB-based tags provide the line of sight of the stock and staff, thereby ensuring speed and process efficiency.
- Manufacturing − The manufacturing vertical poses a huge market potential for UWB-based RTLS solutions, mainly because of the rising adoption of RTLS solutions due to their asset, tool, and employee tracking and supply chain management capabilities, which are essential to get real-time data and improve the visibility of manufacturing processes in growing manufacturing companies in developing regions such as Asia Pacific and RoW. UWB-based RTLS solutions can also track and monitor telemetry conditions such as humidity, pressure, and temperature of remote assets and vessels, which improves the safety of workers and helps manage asset integrity.
- Automotive & Transportation − Automotive and transportation industry has witnessed arrays of new and emerging applications for UWB technology. Since the past few years, wireless technology is majorly used in automobiles for the radio reception and navigation purposes. Additionally, the introduction of advanced features in automobiles such as keyless entry and tire pressure monitoring has also led to the higher adoption of wireless data transmission techniques. In these techniques, wireless narrowband solutions are used to ensure high reliability under the heterogeneous environment inside the automobiles.
COVID-19 Impact on the Global UWB Market
UWB market is expected to witness a marginal dip in 2020 due to the COVID-19 pandemic as the movement restriction and lockdowns has resulted in the disruptions in the supply chain, However the use of remote monitoring technology, software managment tools could lead to higher adoption during post COVID-19 period. COVID-19 has disrupted the supply chain of different vertical of UWB market, which included healthcare, automotive & transportation, manufacturing, consumer electronics, and retail. The companies are exploring new opportunities to interact with manufacturers by leveraging advanced technologies.
Coronavirus, a deadly respiratory disease that originated in China, has now become a worldwide pandemic. The impact of COVID-19 is not fully evident on UWB market at the time being, but the slowdown in manufacturing and disruption in supply chain is expected to impact its market, at least in the short term. Labor shortage in the times of COVID-19 is expected to be the biggest challenge for companies across the world to overcome over the next 3–6 months. UWB based systems production facilities are either shut down or currently unable to produce at full capacity, and this could negatively affect Q2 and Q3 revenues of companies for 2020 and result in slower growth in the near term.
Companies with global supply chains are expected to be the most affected by this pandemic. As per industry experts, about 75% companies in the US could face supply chain issues in the coming months. If adverse effects of the virus become more prevalent in locations where customers, suppliers or manufacturers conduct business, the companies might experience constrained supply or curtailed demand that would provide material impacts in future periods. Companies are continuously monitoring the situation at their Chinese suppliers in order to ensure that the supply chain remains as efficient as possible and are also looking for alternative logistical routes wherever possible.
The effect of COVID-19 on the healthcare sector is more noticeable, as it is the epicenter of this unprecedented global pandemic challenge. Private companies has risen to the occasion, by offering support to the government, by providing testing support, preparing isolation beds for the treatment of Covid-19 positive patients, providing equipment such as ventilators, PPE kits, and masks. Systems such as Impulse‐Radio Ultra‐Wideband system, made up of static biomedical nodes is mounted on a patient’s body to collect vital data. UWB technology is also used for medical monitoring, and medical imaging. Due to COVID-19, the production of these systems is stopped.
Key Market Players
Key players in the market are Decawave (acquired by Qorvo Inc. (US)), Apple (US), 5D Robotics (US), Pulse~LINK (US), BeSpoon (France), Zebra Technologies (US), NXP Semiconductors (Netherlands), Texas Instruments (US), Johanson Technology (US), Alereon (US), LitePoint (US), Fractus Antennas (Spain), Nanotron Technologies (Germany), Samsung Electronics (South Korea), Sony (Japan), Ubisense (UK), Alteros (Ohio), and Starix Technology (US).
These players are increasingly undertaking product launches and developments, and acquisitions to develop and introduce new technologies and products in the market.
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