NEW YORK, Oct. 21, 2022 (GLOBE NEWSWIRE) — Research Nester announced,global Ultra-wideband technology market‘For the forecast period, i.e. 2023-2033, the following factors are included:
- Market growth during the forecast period
- Detailed regional overview
- market segmentation
- growth driver
- Task
- Key market players and their in-depth profiling
Global market reach Ultra-wideband technology:
| Market size 2022 value (base year) | ~ USD 1.1 billion |
| Market forecast for 2033 | ~US$5 billion |
| growth rate (CAGR) Ultra-wideband technology Market (global) | ~20% |
| forecast period of Ultra-wideband technology market (global) | 2023-2033 |
global Market size of ultra-wideband technology:
global Ultra-wideband technology market It aims to capture a revenue of up to US$5 billion by the end of 2033, growing at a CAGR of up to 20% during the forecast period. In addition, this market generated a significant revenue for him in 2022 of approximately US$1.1 billion. The market expansion can be attributed to the explosive worldwide use of smartphones and other smart digital devices. The research found that around 7.3 billion people worldwide, or more than 91% of him in the world’s population, own smartphones and feature phones.
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A further innovation in data communications is known as ultra-wideband technology. In short, ultra-wideband technology enables massive data transmission. As more and more small and midsize end customers realize the value of ultra-wideband, they are spending more on consumer electronics, driving market growth over the years. By 2022, consumer electronics spending was projected to reach US$500 billion, with total device shipments of around 2 billion units.
global Ultra-wideband technology market: important point
- Asia-Pacific captures the majority of revenue
- Healthcare Segment Dominating Earnings Chart
- RTLS subsegment still dominates application segment
Increased imports and exports of ICT products and increased investment in R&D to boost market growth
In addition, the development of the ICT (Information and Communication Technology) sector has significantly boosted GDP growth, worker productivity and other aspects of economies around the world. The production of goods and services by the ICT industry also drives economic growth and development. Moreover, increasing imports and exports of ICT products across the globe are estimated to boost the growth of the market. The World Data Bank reports that global exports of ICT goods rose from 11.9% to 11.43% of total exports of goods between 2015 and 2020.
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In addition to this, increasing investment in the R&D sector across the globe is expected to boost the market growth in the coming years. Research shows that since 2000, the amount spent on research and development worldwide has more than tripled in real terms, from US$677 billion to US$2.2 trillion in 2019. did. As more and more people start using smart devices and the world needs a fast and secure data management system, major market players are expected to invest more in ultra-wideband technology, leading to the growth of the market during the forecast period. expected to promote growth.
global Ultra-wideband technology market: Regional overview
The global ultra-wideband technology market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, Middle East and Africa regions.
Rising Health Care Expenditures to Drive Growth in Asia-Pacific
The Asia-Pacific market is estimated to hold the largest market share by the end of 2033. Market growth can be attributed to the growing patient pool of hospitals that require high-end technology for communication and data management. Therefore, increased investment in the healthcare sector, supported by increased spending on healthcare, is expected to drive the growth of the market. Taking into account the total % of GDP, the region’s healthcare spending increased from 6.51% in 2018 to 6.67% in 2019, according to the World Bank.
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Rise in smartphone usage driving growth in North America region
Moreover, the North American market is estimated to gain a large market share throughout the forecast period. The North American market is projected to capture the highest market share during the forecast period, given the increasing use of cutting-edge technology and the increasing trend of Bring Your Own Phones in the Workplace (BYOP) in countries including Canada and the United States. increase. As of 2021, she has over 300 million smartphone users in the United States, making the country one of the world’s largest smartphone markets. Moreover, the presence of significant market competitors in the region and the accessibility to cutting-edge technologies are projected to drive the market expansion during the forecast period.
The study further incorporates forecasts for YOY growth, supply and demand, and future opportunities in the following areas:
- North America (USA, Canada)
- Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands, Luxembourg, NORDIC [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Singapore, Malaysia, Australia, New Zealand, Rest of Asia Pacific)
- Middle East and Africa (Israel, GCC) [Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman]North Africa, South Africa, the rest of the Middle East and Africa).
global Ultra-wideband technology market, segmentation application
- communication
- imaging
- RTLS
- others
Among these, the RTLS segment is estimated to hold the largest market share during the forecast period. The increasing adoption of real-time location services in many industries across the globe can be attributed to the rising segment in the estimated timeframe. For example, by 2022, approximately 58% of various verticals, including public spaces, smart offices, hospitality, healthcare and manufacturing, were expected to implement Bluetooth real-time location services.
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global Ultra-wideband technology market, segmentation End-user
- consumer electronics
- Health care
- retail
- manufacturing industry
- others
Among these, the healthcare segment is projected to gain a large market share during the forecast period. Due to its contribution to medical monitoring, ultra-wideband technology is gaining traction in the healthcare industry. By emitting wireless RF waves, it uses ultra-wideband technology to track patient movement and identify key body indicators. Moreover, increasing spending in the healthcare sector is estimated to drive the growth of the segment. According to the World Health Organization, global healthcare spending has increased overall over the past two decades, effectively doubling, reaching US$8.5 trillion in 2019, 9.8% of GDP from 8.5% in 2000 reached.
global Ultra-wideband technology market, segmentation Positioning system
Prominent market leaders in the global ultra-wideband technology market profiled by Research Nester include Johanson Technology Inc., Alereon, Inc., Texas Instruments Incorporated, Starix Technology, Inc., NXP Semiconductors NV, Ubisense Limited, Humatics Corporation, Zebra Technology Corporation, Apple Inc., 5D Robotics, Inc., etc.
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Recent trends in the world Ultra-wideband technology market
- In August 2022, Infosys, a global leader in next-generation digital services and consulting, will open Sydney Living, a high-tech co-creation space for digital innovation, as part of a network of more than 20 facilities worldwide, including Melbourne. A lab was opened. .
- In June 2021, Ubisense Limited will launch a new UB-Tag with simultaneous ultra-wideband and BLE tracking capabilities. The UB-Tag is robust, small and can be used for industrial applications. This device can transmit BLE and ultra-wideband signals simultaneously.
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