Ultra-Wideband Market Trends

Growth Drivers

• Growing Demand for Ultra-Wideband in Healthcare Sector- As of 2019, the global health expenditure was estimated to reach about USD 1100 per capita.ultra-wideband becomes significant in the healthcare sector, since it contributes effectively to medical monitoring. Moreover, ultra-wideband is utilized to monitor the motion of the patients to determine the important signs within the human body by transmitting wireless RF waves. Furthermore, the technology is also helpful to monitor and analyze medicine storage for quality measurement. Hence, such a higher demand is projected to hike the ultra-wideband market growth during the forecast period.
• Rising Penetration of IoT Worldwide - The global adoption of the Internet of Things (IoT) is increasing, which is fuelling the expansion of the Ultra-Wideband (UWB) industry. Moreover, owing of its lower power consumption, short-range transmission, and large bandwidth, UWB technology is a good fit for IoT devices, since they rely on wireless communication to send and receive data. The total global spending on IoT in 2020 is estimated to reach approximately USD 700 billion and is projected to grow Y-O-Y.
• Increasing Consumer Spending on Electronics- In 2022, consumer electronic spending was estimated to be approximately USD 500 billion while the total device shipment was projected to be around 2 billion units in a similar year around the globe.
• Significant Utilization of Ultra-Wideband in the Retail Sector- One of the major sectors making use of UWB is retail. The real-time tracking of assets, such as goods and shopping carts, is possible using UWB technology, which is particularly suited for indoor positioning. This can aid merchants in better inventory control, shrinkage reduction, and customer service improvement. It is observed that the total sales in the retail sector reached around USD 22 trillion in 2020 while further expected to increase to nearly USD 30 trillion by the year 2025 around the world.

Challenges

• Complexities in Channel Estimation for UWB Communications - The estimation of the channel is an essential parameter when designing wireless communication receivers. Larger frequency bands in UWB can accelerate antenna swap-outs and complicate antenna counts, further complicating channel estimation. Hence, such complexities are projected to impede market’s growth over the forecast period.
• Low Awareness in Underdeveloped Regions
• Continuous Requirement of Expensive Maintenance