DUBLIN–(BUSINESS WIRE)–The “Ultra-Wideband Chipset Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Application and End-User” report has been added to ResearchAndMarkets.com’s offering.
The ultra-wideband chipset market was valued at US$ 498.55 million in 2021 and is projected to reach US$ 1,906.46 million by 2028; it is estimated to grow at a CAGR of 21.1% from 2021 to 2028.
Ongoing advancements in new application areas of ultra-wideband (UWB) technology in the wireless sensor network and growing deployment of the technology in mobile devices are propelling the ultra-wideband chipset market growth.
Furthermore, UWB is one of the fastest-growing technologies adopted in real-time location system (RTLS), with a considerable growth potential due to its accuracy in tracking assets. UWB technology and the next-generation Bluetooth low energy beacon technology are likely to be in demand by the providers of RTLS solutions and asset tracking systems during the forecast period, which will boost the ultra-wideband chipset market size.
Thus, the adoption of RTLS of ultra-wideband chipsets to track or locate people or objects within confined areas such as shopping malls, hospitals, and airports is expected to drive the global ultra-wideband chipset market during the forecast period.
Moreover, UWB technology is widely used in RTLS solutions to track and monitor hospital assets, patients, healthcare professionals, and hygiene inside the hospitals.
Healthcare is one of the major verticals in which UWB technology based RTLS solutions have seen a high penetration. Healthcare institutions across North America and Europe spend a considerable amount on for adoption RTLS for asset and personnel tracking which is fueling the adoption of the ultra-wideband chipset market.
Impact of COVID-19 Pandemic on Ultra-Wideband Chipset Market
The COVID-19 pandemic has highly disrupted the socio-economy of various countries worldwide. Similarly, it has positively affected the various businesses in the US. However, the RTLS segment for the healthcare market has experienced significant growth opportunities during the pandemic. The initiative of social distancing has primarily contributed to the increasing use of RTLS during the pandemic.
For instance, in the US, during the pandemic, professional basketball and football seasons were made possible in part by contract tracing – specifically by Kinexon’s ultra-wideband contact tracing system. Thus, the increase in adoption of UWB technology to adhere to the norm of social distancing is has boosted the demand for ultra-wideband chipsets in North America.
Key Market Dynamics
- Growing Demand for UWB Technology in RTLS Applications
- Rising Adoption of UWB Technology in Personal and Consumer Device Tracking
- Narrow-Band System is Creating Interference in UWB System
- Opportunities for UWB Technology in Automotive Industry
- Automobile and Smartphone the Future of UWB Chipset
- Alereon, Inc.
- Apple Inc.
- Bespoon Sas
- Decawave Limited
- Taiyo Yuden Co., Ltd.
- Johanson Technology, Inc.
- Novelda As
- Nxp Semiconductors N.V.
- Pulse-Link, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/94oinp.
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