Ultra-Wideband Chipset Market is expected to reach US$ 1,906.46 Million by 2028

PRESS RELEASE BY The Insight Partners 25 Jan 2022

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Rising Adoption of UWB Technology in Personal and Consumer Device Tracking to Provide Growth Opportunities for Ultra-Wideband Chipset Market

According to our latest market study on "Ultra-Wideband Chipset Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application, End User, and Geography," the market is expected to grow from US$ 498.55 million in 2021 to reach US$ 1,906.46 million by 2028; it is estimated to grow at a CAGR of 21.1% from 2021 to 2028.

The global ultra-wideband chipset market is segmented into five major regions – North America, Europe, Asia Pacific, and Rest of the World. In 2021, APAC led the market with a substantial revenue share, followed by North America and Europe. Ultra-wideband (UWB) is one of the fastest-growing technologies adopted in real-time location systems (RTLS) with a considerable growth potential due to its accuracy in tracking assets. Moreover, the adoption of RTLS and UWB chipsets to track or locate people and objects within confined areas such as shopping malls, hospitals, and airports is expected to fuel the growth of the global ultra-wideband chipset market.

The global ultra-wideband chipset market is segmented based on application and end user. Based on application, the market is segmented into RTLS, imaging, and communication. Based on end user, the market is categorized into manufacturing, retail, automotive, healthcare, and consumer electronics. In terms of geography, the market is segmented into North America (the US, Canada, and Mexico), Europe (France, Germany, Italy, the UK, Russia, and the Rest of Europe), Asia Pacific (Australia, China, India, South Korea, Japan, and the Rest of APAC), and Rest of the World (Brazil and UAE).

Impact of COVID-19 Pandemic on Ultra-Wideband Chipset Market

The COVID-19 pandemic has shaken several industries. The unprecedented growth in the spread of the virus has urged governments worldwide to impose strict restrictions on vehicles and human movement. The semiconductor industry took a significant hit as the demand for electronic components was lowered from the industrial sector and end users. Moreover, the COVID-19 new variant “Omicron” is creating challenges for various sectors such as healthcare, automotive, and consumer electronics. The UWB function monitors the location of nearby tags, with the ability to track multiple tags at once, so several people can be in a given space and use their devices to maintain distance. So, the ultra-wideband (UWB) technology is seen to be beneficial in COVID-19 contact tracing and social distancing applications. For Instance, In the U.S. during the coronavirus pandemic, professional basketball and football seasons were made possible in part by contract tracing—specifically by Kinexon's ultra-wideband contact tracing system. Therefore, the COVID-19 outbreak has not much affected the ultra-wideband chipset market.

ALEREON, INC.; Apple Inc.; Bespoon SAS; Decawave Limited; Furaxa INC.; Johanson Technology, Inc.; NOVELDA; NXP Semiconductors N.V.; and Pulse-Link, inc. are among the major companies operating in the ultra-wideband chipset market.

Ultra-Wideband Chipset Market - by Geography, 2020 and 2028 (%)

Ultra-Wideband Chipset Market - by Geography, 2020 and 2028 (%)

Ultra-Wideband Chipset Market Size & Share| Report 2021, 2028

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Ultra-Wideband Chipset Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Application (RTLS, Imaging, and Communication) and End-User (Manufacturing, Retail, Automotive, Healthcare, and Consumer Electronics)

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