Growing demand in wireless data radio modem market
A new report has been released by ResearchAndMarkets.com which suggests that the wireless data radio modem market is expected to reach US$724.1 million by 2023.
The dominance of radio modems in SCADA and telemetry applications and growing demand for radio modems in agricultural drones and surveys are some of the factors driving the growth of the wireless data radio modem market. However, the requirement of high initial investment and competition from the alternatives such as Sigfox, LoRa, and NB-IoT are the restraints for the market.
The UAV drone wireless data radio modem market is expected to grow at a higher CAGR between 2018 and 2023. These modems offer convenient and flexible means to the operators to ensure the safety of the inspection staff, which motivates them to work efficiently. Moreover, drones equipped with radio modems are mostly used for commercial applications, such as agriculture, survey and mapping, search and rescue, firefighting, photography, film industry, disaster management and law enforcement.
The SCADA and telemetry is expected to hold the largest share of the general-purpose wireless data radio modem market during the forecast period. The lower operational expenditure and higher reliability in the line-of-sight wireless communications make the wireless data radio modems suitable for the SCADA and telemetry application in small and medium process industries.
The wireless data radio modem market in North America is driven by factors such as the rising demand for industrial automation, transportation and supportive government programs. North America ranks first in terms of the deployment of various intelligent transportation systems (ITS), such as advanced transportation management systems, advanced traveller information systems, ITS-enabled pricing systems and commercial vehicle operations.
The ITS industry has a major positive economic impact on the US and contributes significantly to enable the US economy to move forward and continue to grow. The US is the major country driving the growth of the market in this region.
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