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Rising Internet Of Things Adoption Driving The Market Growth Due To Increasing Data-Driven Operations And Device Connectivity: Transformative Forces Shaping the Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market Landscape in 2
Indoor Dead Reckoning Ultra WidebandInertial Measurement Unit UWB IMU Market
What Will the Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Industry Market Size Be by 2025?
In the past few years, the market size of the indoor dead-reckoning ultra-wideband-inertial measurement unit has experienced rapid expansion. It is projected to increase from $1.40 billion in 2024 to $1.63 billion in 2025, with a compound annual growth rate (CAGR) of 16.9%. Factors contributing to the growth during the historical period include higher demand for real-time location surveillance in warehouses, increased use of UWB-IMU in independent robotics, broader adoption of cutting-edge navigation systems in the aviation and defense sectors, more frequently implemented indoor tracking in large commercial buildings, and a surge in demand for secure access control and authentication solutions.
What's the Long-Term Growth Forecast for the Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market Size Through 2029?
Expectations for a significant surge in the indoor dead-reckoning ultra-wideband-inertial measurement unit market have been forecasted, with its size predicted to amplify to a worth of $3.01 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 16.5%. The escalation during this period is anticipated to stem from amplified demand for smooth indoor navigation at locations such as airports and shopping centers, increased incorporation of ultra-wideband-inertial measurement unit (UWB-IMU) in realms like augmented and virtual reality, growing requirements for precise tracking in healthcare and elderly care institutions, further incorporation of indoor positioning with IoT-backed smart devices, and expanded implementation of UWB-IMU solutions in autonomous automobiles and drones. Over the forecast period, significant trends include advancements in AI-powered sensor fusion for elevated accuracy, innovative developments in low-power UWB-IMU chipsets for longer device lifespan, integration of indoor positioning mechanisms with cloud-sourced analytics, advancements in miniaturized wearable-compatible UWB-IMU modules, and innovative multi-sensor platforms integrating UWB-IMU and lidar technology.
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What Are the Key Growth Drivers Fueling the Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market Expansion?
The market for indoor dead-reckoning ultra-wideband-inertial measurement units (UWB-IMU) is poised for growth, primarily triggered by the proliferation of Internet of Things (IoT) deployment. IoT, which refers to the network of connected devices sharing data through Internet, facilitates automation, surveillance, and informed decision-making. As organizations adopt IoT to stream real-time data for improved operational efficiency and informative business strategies, the demand for these UWB-IMU increases since they deliver accurate and reliable indoor location data crucial to asset tracking, efficient operations, and smart automation. For example, IoT Analytics GmbH reported that the number of connected IoT devices, which stood at 16.6 billion at the end of 2023 (a 15% increase from 2022), is predicted to hit 18.8 billion with a 13% increase by the end of 2024 and reach 40 billion by 2030. This increasing IoT deployment is thus fueling the UWB-IMU market growth. Furthermore, the market is also driven by the rising adoption of smart building technology as it improves operational efficiency and comfort for occupants. These technologically advanced structures use IoT and other advanced technologies to automate and maximize energy efficiency, safety, and comfort. They enhance the occupants' comfort by automatically adjusting lighting, temperature, and air quality. The UWB-IMU technology, by providing precise indoor location data, contributes to the automation of lighting, HVAC control, and asset management, depending on real-time movements. For instance, the European Commission reported that the number of buildings utilizing smart technologies would reach 115 million by 2026, growing over 150% from 45 million in 2022. This mounting deployment of smart buildings is thus propelling the UWB-IMU market growth.
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How Is the Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market Segmented?
The indoor dead-reckoning ultra-wideband-inertial measurement unit (UWB-IMU) market covered in this report is segmented as
1) By Component: Hardware, Software, Services
2) By Technology: Ultra-Wideband (UWB), Inertial Measurement Unit (IMU)
3) By End-User: Manufacturing, Healthcare, Logistics And Transportation, Retail, Aerospace And Defense, Other End-Users
Subsegments:
1) By Hardware: Processors And Microcontrollers, Antennas And Radio Frequency Components, Batteries And Power Supplies
2) By Software: Navigation And Positioning Software, Data Analytics And Visualization Tools, Device Management Software
3) By Services: System Integration Services, Consulting And Advisory Services, Maintenance And Support Services
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Which Companies Are Leading the Charge in Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market Innovation?
Major companies operating in the indoor dead-reckoning ultra-wideband-inertial measurement unit (uwb-imu) market are Sony Semiconductor Solutions Corporation, Qorvo Inc., HID Global Corporation, Kinexon GmbH, Advanced Navigation Pty Ltd, Ubisense Group plc, Racelogic Ltd., Estimote Inc., Inpixon Inc., Nanotron Technologies GmbH, Sewio Networks, Infsoft GmbH, Navigine Inc., Nextome Srl, Locatify, Pozyx NV, BeSpoon, UbiTrack Technologies Ltd.
Which Regions Are Leading the Global Indoor Dead-Reckoning Ultra-Wideband-Inertial Measurement Unit (UWB-IMU) Market in Revenue?
North America was the largest region in the indoor dead-reckoning ultra-wideband-inertial measurement unit market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in indoor dead-reckoning ultra-wideband-inertial measurement unit (UWB-IMU) report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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