Ability to share frequency, large channel capacity, high performance in multipath channel, growing use of UWB-based RTLS technology in resource utilization and workflow optimization requirement in manufacturing industries, growth of the industrial IoT in the forecast period, the increasing adoption of the technology based real time location system solutions for resource utilization and workflow optimization in industries, increasing technological advancements in terms of precision ,range and growing market competitiveness are some of the major key drivers of this ultra wideband market. However, low network latency, low range, limited throughput, and premium pricing of ultra-wide band and need large frequency technology are some of the restraining factors of the ultra wideband market.
One of the major advantages of the large bandwidth for UWB pulses is improved channel capacity. It is defined as maximum amount of data that can be transmitted per second over a communications channel. The trade-off between the range and the data rate makes UWB technology ideal for a wide array of applications in military, civil, and commercial sectors.
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Wireless technologies have drastically transformed. From phones to wearable devices, from cars to electrical appliances, wireless technologies are changing the way one uses and communicates with these machines. Ultra-wide band can provide precise, secure, real-time localization capabilities unrivaled by other wireless technologies such as Wi-Fi, Bluetooth, and GPS. Hence, technology companies have been working toward finding new use cases for the technology.
One of the major challenges for ultra-wide band is that it uses a large frequency range and therefore interferes with other wireless standards that share the same frequencies.
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COVID-19 scenario Analysis:
- The emergence of COVID-19 pandemic has severely affected almost all industries across the world. Further, lockdown enforcements and restrictions on movements of non-essential goods as well as resources in various countries has disrupted the supply chain of electronic components & networking equipment. Thus, this has led to delay in supply of electronic components required in manufacturing of equipment.
- It is expected that the U.S. and global tech market growth is slowing down to nearly 2% in 2020, due to which ICT spending in major economies such as the U.S. have declined in the first half of 2020, but it is expected to recover in the second half.
- In addition, there is a notable ramp-up in technologies such as work-from-home infrastructure, collaboration tools, virtualization infrastructure, VPN networking, mobile devices, security, desktop support and zoom during the COVID-19. Interest for video conferencing solution is surging during the crisis. This generates large amount of data and will require high end technologies to analyze.
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