Ultra Wideb(UWB) Market Trends and News: Increasing at a CAGR of 7.35% from 2024 to 2029

Global Ultra Wideb(UWB) Market Overview

According to Global Market Monitor, the global ultra-wide (UWB) market size is expected to grow to $189.25 million by 2029 with a CAGR of 7.35% from 2024 to 2029.Ultra-wideband is a radio technology that can use a very low energy level for short-range, high-bandwidth communications over a large portion of the radio spectrum. UWB has traditional applications in non-cooperative radar imaging.

Application Fields

With its ability to provide high data rate wireless communications, ultra-wideband (UWB) technology has seen significant adoption in consumer electronics over the past few years. UWB technology is mainly deployed in various smartphones, laptops, and speaker devices, and its use in various smart home applications is rapidly increasing, thus offering great potential for the UWB market growth in the consumer electronics sector in the coming years. Due to the increasing demand for UWB technology in IoT devices, the adoption of IoT in the manufacturing and automotive sectors creates opportunities for the market, with the manufacturing and automotive sectors likely to be the main drivers.

Market News

In February 2024, China's Shenzhen Giant Microelectronics Co., LTD., a supplier of wireless system-on-a-chip (SoC), introduced the industry-leading GT1500 UWB SoC for ranging, positioning and wireless connectivity applications at MWC 2024. The GT1500 is ideal for space-constrained wearable and IoT product applications.

Market Drivers

Real-Time Location System (RTLS) is one of many techniques for detecting the current geographic location of a target, which can be anything from a vehicle to an item in a manufacturing plant to a person. UWB technology is often used in positioning systems to transmit large amounts of digital data over a wide frequency range, so the surge in demand for UWB technology in RTLS has driven the market's growth. With the ever-increasing technological advances in ultra-wideband (UWB) technology in terms of accuracy and range. UWB's high bandwidth, low-frequency signals can pass through a variety of obstacles, including walls. Can achieve 30 cm accuracy, more accurate than Bluetooth and Wi-Fi systems, so it is more useful for plant managers who need to accurately move asset locations UWB is less susceptible to interference from metals and other materials than Wi-Fi and Bluetooth-based systems, making it a suitable choice for production site asset tracking and can be used in manufacturing, retail, automotive and transportation industry. That application market is expanding globally, which drives the growth of the market. Ultra-wideband (UWB) technology offers advantages in healthcare. Ultra-wideband technology is used in imaging, and it is widely used in CT and various imaging diagnostics in the medical industry. With the continuous improvement of medical facilities and the improvement of people's health awareness, the medical industry has developed rapidly and promoted ultra-wideband to a certain extent.

Drivers	The demand for UWB technology in RTLS
	Technological advances in ultra-wideband
	Rapid development of the healthcare industry
	Technological innovation makes it more widely applicable
	Growing downstream demand
Limitations	The high cost of UWB technology
	Threat of alternatives