Pune, India, Nov. 07, 2023 (GLOBE NEWSWIRE) -- According to a new report on “Ultra-Wideband Chipset Market Size and Forecast (2021–2028), Global and Regional Share, Trends, and Growth Opportunity Analysis – by Application (RTLS, Imaging, and Communication) and End-User (Manufacturing, Retail, Automotive, Healthcare, and Consumer Electronics)”the market in terms of revenue was estimated to be worth $498.55 million in 2021 and is poised to reach $1,906.46 million by 2028, growing at a CAGR of 21.1% from 2021 to 2028.
The growth of the growing demand for UWB technology in RTLS applications and rising adoption of UWB technology in personal and consumer device tracking. However, automobile and smartphone the future of UWB chipset.
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Global Ultra-Wideband Chipset Market Scope:
| Report Coverage | Details |
| Market Size Value in | US$ 498.55 million in 2021 |
| Market Size Value by | US$ 1,906.46 million by 2028 |
| Growth rate | CAGR of 21.1% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| Segments covered | Application, End-User, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Opportunities for UWB Technology in Automotive Industry to Propel Global Ultra-Wideband Chipset Market Growth:
A wireless sensor network is used in the areas where wiring and power supply is difficult to achieve over the years. This network has gained considerable adoption in the automotive, military, transportation, and other industries. In addition, automotive and transportation industry has witnessed various new and emerging UWB technology applications, and wireless technology is one of the majorly used in technology for navigation application. Moreover, the emergence of advanced features in cars such as keyless entry has also led rise the adoption of wireless data transmission techniques.
Global Ultra-Wideband Chipset Market: Automobile and Smartphone the Future of UWB Chipset
In the future, the implementation of UWB chipset will be done in many next-gen smartphone applications. For example, Samsung is planning to integrate UWB technology in its Samsung Galaxy Ultra 5G and S21 which allow a person to unlock cars without keys. In addition, the developer of UWB-based semiconductor solutions DecaWave is gaining recognition for introducing its new chipsets that comes with the new IEEE 802.15.4z (4z) standard for reduction of power in automotive and mobile application. Moreover, increasing initiatives by automotive manufacturers towards the development of UWB-related products will further create a future trend for the global ultra-wideband chipset market.
In the current scenario, the rising need to know the location of resources such as equipment, people, and other objects, the demand of UWB technology has been rapidly expanding in a various industry in real-time. Some of the emerging RF-based technologies have been proposed to offer resource tracking, such as, pipe spools and structural steel members tracking by RFID. Furthermore, Ultra-wideband is one of the growing technologies adopted in real-time location systems (RTLS) with a considerable growth potential due to its higher accuracy in tracking objects. UWB technology offers high accuracy and wide range and lower power consumption than other RTLS technologies such as RFID; this has led to increased penetration of UWB technology in applications requiring high accuracy. Owing to this higher accuracy of UWB technology, several end-users of RTLS have shifted from RFID and Wi-Fi to UWB technology to improve the efficiency of the product. In addition, the UWB-integrated RTLS solutions offer various advantages to RTLS applications, thereby driving the ultra-wideband chipset market.
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Global Ultra-Wideband Chipset Market: Competitive Landscape and Key Developments
ALEREON, INC.; Apple Inc.; Bespoon SAS; Decawave Limited; Furaxa INC.; Johanson Technology, Inc.; NOVELDA; NXP Semiconductors N.V.; and Pulse-Link, Inc are among the key players that are profiled during this market study. In addition to these players, several other essential market players were also studied and analyzed to get a holistic view of the global ultra-wideband chipset market and its ecosystem.
Recent Developments:
- In 2021: Apple Inc. has launched AirTag with U1 UWB chipset designed to track objects using iPhone.
- In 2020: Samsung launched its new smartphone named as Samsung Galaxy Note20 Ultra smartphone which is powered by NXP Semiconductors’ ultra-wideband chipset.
- In 2021: Novelda AS announced it has raised US $ 44.70 million in pre-IPO private placement through issuance of 484,848 new shares
- In 2021: Taoglas announced it has appointed Distrelec as its official distributor for its products in Europe.
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