According to a new report, published by KBV research, The Global Ultra Wideband Market size is expected to reach $4.9 billion by 2031, rising at a market growth of 18.2% CAGR during the forecast period.
The Outdoor segment is anticipating a CAGR of 19.1% during (2024 - 2031). UWB technology is increasingly used for outdoor navigation and tracking applications where high precision is essential. This includes scenarios like autonomous vehicles, drone operations, and outdoor robotics, where accurate positioning and collision avoidance are critical. The ability of UWB to provide precise real-time data in challenging outdoor environments is driving demand.
The Real-time Location System (RTLS) segment is leading the Global Ultra Wideband Market by Application in 2023; thereby, achieving a market value of $2.5 billion by 2031. UWB-based RTLS enables precise tracking of valuable assets and inventory within complex environments. This capability is crucial for industries such as healthcare (for tracking medical equipment and patients), logistics (for managing inventory and shipments), and manufacturing (for monitoring machinery and tools). Accurate asset management reduces losses, prevents theft, and ensures timely availability of resources.
The Automotive & Transportation segment is registering a CAGR of 18.7% during (2024 - 2031). UWB technology contributes to advanced driver assistance systems (ADAS) by providing accurate distance and proximity measurements. This enables collision avoidance, lane-keeping assistance, and automatic emergency braking. The enhanced safety provided by UWB contributes to its growing adoption in vehicles.
Full Report: https://www.kbvresearch.com/ultra-wideband-market/
The North America region dominated the Global Ultra Wideband Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $1.6 billion by 2031. The Europe region is showing a CAGR of 17.8% during (2024 - 2031). Additionally, The Asia Pacific region would experience a CAGR of 18.7% during (2024 - 2031).
By Positioning System
By Application
By End Use
By Geography
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