Ultra Wideband Chipset Market: Introduction
Transparency Market Research delivers key insights on the global ultra wideband chipset market. In terms of revenue, the global ultra wideband chipset market is estimated to expand at a CAGR of ~6% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights in its report on the global ultra wideband chipset market.
The ultra wide band technology can be defined as an ultra low power wireless technology, which is used to transfer a large amount of data in short distances. The UWB technology is capable of transmitting data at the rate of 1 gigabit per second in a radius of 10 meters for wireless personal area communications. It can carry a huge amount of data over distances up to 230 feet. It can also carry the data across barriers, such as doors or cross other obstacles due to its high power. The current trend of manufacturers introducing new UWB technology-based chipsets with additional features and fulfilling customer needs is driving the growth of the UWB market. For instance, Decawave has announced its new next-generation Ultra Wideband (UWB) chipsets designed to solve the global need for increased mobile transaction security. Furthermore, the market is expected to expand at a high growth rate during the forecast period.
The ultra wide band technology is anticipated to replace the traditional RFID technology, due to the limitations associated with RFIDs. RFIDs have low frequency and they are bigger in size and hence, unsuitable for live tracking. The UWB technology offers accuracy of 5-10 cm, which is the most vital factor in live tracking, especially for indoor positioning. Moreover, UWB offers low power transmission, low power dissipation, robustness, and several other benefits, which is making it popular among consumers.
The UWB technology also overcomes the limitations of the iBeacon technology. The iBeacon technology is used in smartphone apps to deliver location specific content. This technology has limitations of latency and accuracy. Manufacturers are seeking the new technology to overcome these limitations and provide more frequent location updates and precise location detection. The ultra wide band measures the time it takes for the signal to travel from transmitter to receiver in order to calculate the distance in centimetres. This method offers more precise location information than iBeacons. The above mentioned benefits associated with the ultra wide band technology is expected to propel the growth of the global UWB market in the coming years.