Ultra-Wideband Market Size (2024 - 2029)

Ultra Wideband (UWB) Market Analysis

The Ultra-Wideband Market size is estimated at USD 1.82 billion in 2024, and is expected to reach USD 4.08 billion by 2029, growing at a CAGR of 17.53% during the forecast period (2024-2029).

• Increasing urbanization and digitalization strategy adoptions in line with the growing industrial infrastructure and smart homes, technological advancements to improve the operation of semiconductor tools, and increasing digitization in healthcare and retail sectors worldwide are other factors driving the market's growth.
• With the growth of smart cities and homes, the increasing applications of UWB technology in the digital security segments are expected to boost the market's growth, including Ultra-wideband technology enhancing security in access control systems. Access control systems can restrict access to secure areas by utilizing their precise ranging capabilities, allowing only authorized individuals entry. This shows the market's future growth opportunity with the increasing demand for intelligent security solutions worldwide.
• However, Wi-Fi and Bluetooth are the standard wireless communications protocols traditionally implemented in connected devices. They are still gaining significant traction in various applications, thus limiting the growth in demand for UWB technology. Bluetooth technology is still widely used in consumer electronic products, owing to its low price among other wireless communication protocols.
• OEMs' increasing usage of Ultra-wideband-based chips and components in electronic devices will support market growth in the future. For instance, in October 2023, Samsung Electronics announced the Galaxy SmartTag2, enabling users to track valuables better and can be integrated with UWB-enabled smartphones for managing the locations.
• Galaxy products that support UWB include Galaxy Note20 Ultra, Galaxy S21+, Galaxy S21 Ultra, Galaxy S22+, Galaxy S22 Ultra, Galaxy S23+, Galaxy S23 Ultra, Galaxy Z Fold2, Z Fold3, Z Fold4, and Z Fold5, which shows the increasing demand for the UWB technology in the smartphones and connected devices in the market, which would fuel the market's growth.

Ultra Wideband (UWB) Industry Segmentation

Ultra-wideband (UWB) is a radio technology that covers a large part of the radio spectrum while sending short-range, high-bandwidth messages with very little power. As a short-range communication method, it works at very high frequencies, across a wide range of GHz frequencies, to collect accurate information about space and direction.UWB has various traditional applications, especially in non-cooperative radar imaging. Most of its current applications focus on gathering exact locations and tracking sensor data.

The ultra-wideband market is segmented by application (RTLS, imaging, and communication), end-user vertical (healthcare, automotive and transportation, manufacturing, consumer electronics, retail, and other end-user verticals), and geography (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa). The report offers the market size in value terms in USD for all the abovementioned segments.