NEW YORK, Feb. 7, 2017 /PRNewswire/ -- "Growing use of UWB-based RTLS technology in resource utilization and workflow optimization requirement in manufacturing industries is the major driver for the growth of the UWB market."
The ultra-wideband (UWB) market was valued at USD 62.9 million in 2016 and is expected to reach USD 85.4 million by 2022, at a CAGR of 5.2% between 2016 and 2022. The staggering growth of Internet of Things (IoT) has allowed various wireless communication technologies to be reintroduced, repurposed, and resurrected. The growth of industrial IoT is expected to provide significant market opportunities for the UWB technology between 2016 and 2022. The UWB technology is extensively used in asset tracking and inventory management in manufacturing industries.
Factor such as low range, limited throughput and premium pricing of UWB technology compared to its counterparts are acting as the biggest growth barrier for the UWB market in most parts of the world. In price-sensitive consumer electronics product such as smartphones, tablets, and other home networking devices, the high cost of UWB technology is the biggest hindrance to its mainstream acceptance.
"Residential end user segment is expected to grow at the highest rate in UWB market."
UWB technology in indoor positioning system inside smart homes is expected to witness a significant growth between 2016 and 2022. The indoor location tracking is the most dominant application of UWB technology in a residential environment. UWB technology offers location information that allows the design of smart devices to enhance user immersion experience. UWB-based indoor positioning system also helps to monitor humidity and temperature levels in storage and production rooms inside the residential areas. UWB within the home environment is also used extensively for its tracking and localization capabilities for smart surround sound applications.
"RTLS/WSN application segment expected to witness the highest growth in the UWB market"
The benefits provided by UWB technology in diverse application sectors, ranging from healthcare to defense, are the prime factors responsible for the high growth of this technology in the real-time location system (RTLS) market, worldwide. There is an increase in the demand for RTLS/wireless sensor network (WSN) solutions based on UWB technology in manufacturing and healthcare industries, to locate and track the exact location of objects, which cannot be tracked by radio frequency identification (RFID) or wireless fidelity (Wi-Fi) technologies because of obstructions such as hard concrete wall. This factor is expected to drive the growth of the RTLS/WSN application segment for UWB market between 2016 and 2022.
"North America to hold the largest share and APAC to witness the highest growth in the UWB market"
North America is expected to continue to hold the largest share in UWB market owing to the presence of major UWB players in the U.S. and the high adoption rate of UWB-based RTLS/WSN technologies, specifically in the healthcare and retail sector. Asia-Pacific (APAC) is expected to grow at the highest rate in the UWB market because of high industrial growth in the manufacturing and retail sector in this region.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with key people in the UWB industry. The break-up of primary participants has been shown below:
- By Company Type: Tier 1 – 55 %, Tier 2 – 20%, and Tier 3 – 25%
- By Designation: C-Level Executives – 50%, Directors – 25%, and Others – 25%
- By Region: North America – 60%, Europe – 20%, APAC – 10%, and RoW – 10%,
The report also profiles the key players in the UWB market ecosystem. The prominent players profiled in this report are DecaWave Ltd. (Ireland), 5D Robotics, Inc. (U.S.), Pulse ~LINK, Inc. (U.S.), TAIYO YUDEN CO., LTD. (Japan), Alereon, Inc. (U.S.), Samsung Electronics Co., Ltd. (South Korea), BeSpoon SAS (France), Fractus Antennas S.L. (Spain), Johanson Technology, Inc. (U.S.), Zebra Technologies Corporation (U.S.), and Nanotron Technologies GmbH (Germany) among others
The overall market for UWB has been segmented on the basis of application, end user, and geography. Geography has been further segmented into the country level. The Porter's five forces analysis has also been included in the report with a description of each of its forces and its respective impact on the UWB market.
This report describes the drivers, restraints, opportunities, and challenges for the growth of the UWB market.
Key Benefits of Buying the Report
The report would help leaders/new entrants in the UWB market in the following ways:
1. This report segments the UWB market comprehensively and provides the closest market size projection for all segments across different regions.
2. The report helps stakeholders understand the pulse of the UWB market and provides them with the information on key drivers, restraints, challenges, and opportunities for market growth.
3. This report would help stakeholders understand their competitors better and gain more insights to improve their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers and acquisitions.
4. Porter's five forces framework has been utilized along with the value chain analysis to provide an in-depth insight into the UWB market.
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