NEW YORK, Oct. 21, 2022 (GLOBE NEWSWIRE) — Research Nester published a report on “Global Ultra-Broadband Technology Market‘ The forecast period, 2023 to 2033, includes the following factors:
- Market growth during the forecast period
- Detailed area overview
- market segmentation
- growth driver
- Key market players and their detailed profiles
Global Market Scope Ultra Wideband Technology:
|Market size value in 2022 (base year)||~$1.1 billion|
|2033 market forecast value||~ $5 billion|
|Growth rate (CAGR) or Ultra Wideband Technology Market (Global)||~20%|
|forecast period or Ultra Wideband Technology market(Global)||2023 – 2033|
Global Ultra-Broadband Technology Market Size:
worldwide Ultra-Broadband Technology Market By growing at a compound annual growth rate of about 20% over the forecast period, it will capture about $5 billion in revenue by the end of 2033. In addition, this market also generates a considerable revenue of approximately $1.1 billion in 2022. The expansion of the market can be attributed to the explosive use of smartphones and other smart digital devices across the globe. The study found that approximately 7.3 billion people, or more than 91% of the world’s population, own smartphones and feature phones.
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Furthermore, the innovation in data communication is known as ultra-wideband technology. In other words, UWB technology can realize massive data transmission. A growing number of small and medium end customers are increasingly aware of the value of ultra-broadband and have increased spending on consumer electronics to drive market growth over the years. Consumer electronics spending is expected to reach $500 billion in 2022, with total device shipments of about 2 billion units.
Global Ultra Wideband Technology market: key takeaways
- Asia Pacific has the largest share of revenue
- Healthcare sector to dominate the revenue chart
- The RTLS subfield is still prominent in the application area
Growth in import and export of ICT products and increase in R&D investment to boost market growth
In addition, the development of the ICT (Information and Communication Technology) sector has contributed significantly to GDP growth, worker productivity and other aspects of the global economy. The production of goods and services in the ICT sector also contributes to economic growth and development. Furthermore, it is estimated that the growth in the global import and export of ICT products will propel the market growth. The World Bank reports that between 2015 and 2020, the share of global ICT product exports in total merchandise exports climbed from 11.9% to 11.43%.
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In addition to this, the increasing investment in the R&D sector globally is expected to drive the market growth in the ensuing years. Research shows that global R&D spending has more than tripled in real terms since 2000, from $677 billion to $2.2 trillion in 2019. As more and more people start using smart devices, the world is requiring high-speed and secure data management systems, and major market players are expected to invest more in ultra-broadband technology, which is expected to drive market growth over the forecast period.
Global Ultra Wideband Technology market: Regional overview
The global ultra-broadband technology market is segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Increased healthcare spending to drive growth in Asia Pacific
The Asia Pacific market is expected to hold the largest market share by the end of 2033. The growth of the market can be attributed to the increase in the number of patients in hospitals, which requires high-end technologies for communication and data management. Hence, increasing investments in the healthcare industry, supported by rising healthcare spending, are expected to drive market growth. According to the World Bank, the region’s healthcare spending as a percentage of total GDP increased from 6.51% in 2018 to 6.67% in 2019.
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Increasing smartphone usage to drive growth in North America
Furthermore, the North American market is expected to gain a significant market share throughout the forecast period. The North American market is expected to gain the highest market share over the forecast period owing to the increasing use of cutting-edge technologies and the growing trend of Bring Your Own Cell Phone (BYOP) in the workplace in countries such as Canada and the United States. It has been observed that as of 2021, the United States has more than 300 million smartphone users, and the country has one of the largest smartphone markets in the world. Furthermore, the presence of significant market competitors in the region and the accessibility of cutting-edge technologies are expected to drive market expansion over the forecast period.
The study further incorporates year-over-year growth, supply and demand, and forecast future opportunities:
- North America (US, Canada)
- Europe (UK, Germany, France, Italy, Spain, Hungary, Belgium, Netherlands and Luxembourg, Northern Europe [Finland, Sweden, Norway, Denmark]Poland, Turkey, Russia, Rest of Europe)
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America)
- Asia Pacific (China, India, Japan, 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, Rest of the Middle East and Africa).
Global Ultra Wideband Technology market, segment application
- real-time positioning system
Among them, the RTLS segment is expected to hold the largest market share during the forecast period. The increasing adoption of real-time location services across numerous industries across the globe can be attributed to the growth of this segment over the projected time frame. For example, by 2022, approximately 58% of various verticals (including public spaces, smart offices, hospitality, healthcare, manufacturing) are expected to implement Bluetooth real-time location services.
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Global Ultra Wideband Technology market, segment end user
- Consumer electronics products
- health care
Among them, the healthcare segment is expected to gain a substantial market share during the forecast period. Ultra-broadband technology has emerged in the healthcare industry due to its beneficial contributions to medical monitoring. By emitting radio frequency waves, UWB technology is used to track a patient’s movement and identify important physical indicators. Furthermore, rising spending in the healthcare industry is estimated to drive the segment growth. According to the World Health Organization, global health spending has generally increased over the past 20 years, doubling in real terms to $8.5 trillion in 2019, or 8.5% of GDP in 2000. rose to 9.8%.
Global Ultra Wideband Technology market, segment GPS
Few of the well-known market leaders in the global ultra-wideband technology market profiled by Research Nester are 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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Global latest news Ultra Wideband Technology market
- In August 2022, Sydney Living Lab, a high-tech co-creation venue for digital innovation, opened as part of Infosys’ global network of more than 20 facilities, including Melbourne, a global leader in next-generation digital services and consulting.
- In June 2021, Ubisense Limited will launch its new UB-Tag with simultaneous ultra-wideband and BLE tracking. The UB-Tag is robust, compact and can be used in industrial applications. The device can transmit BLE and UWB signals simultaneously.
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