Ultra Wideband Chipset Market Volume Analysis, Segments, Value Share And Key Trends 2023-2030

UWB Technology Scales in COVID-19 Contact Tracing and Social Distancing Applications

The ultra wideband (UWB) technology is proving to be beneficial in COVID-19 (coronavirus) contact tracing and social distancing applications. This technology is helping countries to prevent the spread of the infection. The ultra wideband chipset market is projected to expand at a favorable CAGR of ~6% during the forecast period. Real-time measurement of location and distance with the help of the ultra wideband technology is anticipated to contribute toward the exponential growth of the market post the pandemic.

UWB is being highly publicized for its high accuracy in contact tracing amidst the COVID-19 outbreak. Companies in the ultra wideband chipset market are increasing awareness about other broad applications such as secure keyless entry to cars, improvement of operational efficiencies in factories, and locating essential supplies in hospitals.

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Companies Unlock Revenue Streams in Controlling Forklifts and Robots in Warehouses

The ultra wideband technology is prominent in smartphones. The U1 chip inclusion in iPhone 12 has grabbed the attention of smartphone companies, which enables to precisely locate other U1-equipped Apple devices for file exchange via AirDrop. The UWB technology is being used for spatial awareness in order to prioritize devices for faster file transfer. Companies in the ultra wideband chipset market are increasing their research pertaining to military applications to excel in asset tracking and monitoring.

Apart from smartphones and smart home devices, companies in the ultra wideband chipset market are unlocking value-grab opportunities in control of forklifts and robots in warehouses. The UWB technology is anticipated to become cheap in the upcoming years, and will help in tracking sports players and animals. Other broad applications such as indoor navigation in large buildings are helping to expand revenue streams.

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Unmatched Accuracy in Contact Tracing Helps Overcome UWB’s Short Range Drawback

The ultra wideband chipset market is expected to reach a revenue of US$ 31 Mn by the end of 2030. However, many individuals have reported that the technology’s short range is a major drawback, which is emerging as a hurdle in its commercialization. Hence, companies in the ultra wideband chipset market are increasing awareness about using devices in the same room to overcome short-range challenges. Advantages such as accurate context aware information and indoor location & positioning tend to offset UWB’s disadvantages.

UWB is gaining popularity for providing precise analytics in real time. However, UWB is being compared to Bluetooth, geofencing, and NFC (near field communication). Although these wireless technologies have their advantages, unique advantages of UWB such as unmatched accuracy in contact tracing and low power radio protocol are bolstering market growth.

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Increasing Adoption of Industrial Internet of Things (IIoT): Latest Market Trend
  • The usage of smart things in home appliances is significant across the globe. Products with wireless connectivity (from light bulbs to thermostats to smart speakers) are present in people’s homes today more than ever before. It has been found out that approximately 79 percent of the U.S. consumers have, at least, one connected device at home. However, the technology actually has its roots in a world that precedes the rise of remote control thermostats: industrial manufacturing, which is expected to grow at a low pace in the market after the major impact on industries due to COVID-19 in the year 2023.
  • “In IIoT technology, sensors are attached to physical assets”, says Robert Schmid, Deloitte Digital IoT Chief Technologist. “Those sensors gather data, store it wirelessly, and use analytics and machine learning to take some kind of action.” These are the factors expected to help the UWB chipset market to gradually expand over the next few years.
Advantages Associated with Ultra Wideband Technology: A Key Driver
  • The ultra wideband technology is anticipated to replace the traditional RFID technology due to limitations associated with RFIDs. RFIDs have low frequency and are larger in size, and therefore not suitable for live tracking.
  • UWB technology offers accuracy of 5-10 cm, which is the most required factor in live tracking, especially for indoor positioning. Moreover, UWB offers low-power transmission, low power dissipation, and robustness, apart from other benefits, making it more popular among consumers.
  • The UWB technology also overcomes limitations of iBeacon technology. iBeacon technology is being used in smartphone apps to deliver location specific content. This technology has limitations in terms of latency and accuracy.
  • Manufacturers are seeking new technology to overcome these limitations, and provide more frequent location updates and more precise location detection. The ultra wideband chipset measures the time it takes the signal to travel from transmitter to receiver in order to calculate the distance in centimeters. By using this method, one can get more precise location information compared to iBeacons.