Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Radio Modem Market - Forecasts from 2021 to 2026" report has been added to ResearchAndMarkets.com's offering.
The global radio modem market is expected to grow at a compound annual growth rate of 8.48% over the forecast period to reach a market size of US$1,098.596 million in 2026 from US$621.427 million in 2019.
The global radio modem market is expected to attain great significance due to its rising demand in industrial as well as commercial sectors. Cost-effectiveness and increasing demand for wireless connectivity are expected to be the major growth driver of the global radio modem market.
Cost-effectiveness and low infrastructure requirements are the major key factors that are responsible for the development of the global radio modem industry. The market is foreseen to grow on account of two main factors i.e., low infrastructure cost and privately owned networks. Radio modem devices are anticipated to gain high demand in the future because of advanced technology. Moreover, the wireless nature of these devices could make them more popular in the future.
The rise in demand for private networks for better management and quick communications to take quick and responsive decisions in transportation, construction, or at the time of difficulty is expected to increase the demand for wireless devices in the coming years.
The rising demand for wireless radio modems from industrial and commercial sectors is an essential factor accelerating the market growth, also increased usage of wireless data radio modem in surveillance, aerial photography, search and rescue operations in the law enforcement sector and rising usage of drones for numerous applications in agriculture such as spraying fertilizers, pesticides are the major factors for boosting the market.
North- America is expected to dominate the global radio modem market during the forecasted period due to the high requirement of an effective transportation system owing to the frequent usage of heavy automobiles and four wheelers.
Development of transportation infrastructure
Globally countries are developing their communication infrastructure and are using a range of technologies to manage traffic signals, video cameras, and more. The demand for these connected components is increasing in the market owing to the growing intelligent transportation systems and connected vehicle technology which requires high availability of communication. Department of transportation teams across many countries are upgrading their traffic management infrastructure to ensure smooth traffic flow due to which there will be a high demand for wireless devices which is expected to increase the radio modem market during the forecasted period.
The increasing demand for global radio modems has led to the entry of several new players in the global radio modem market. Now, to increase their clientele as well as increase their market share in the upcoming years, many of these market players have taken various strategic actions like partnerships and the development of novel solutions, which is expected to keep the market competitive and constantly evolving. Major market players like Scheider Electric and SATEL among others have been covered along with their relative competitive strategies and the report also mentions recent deals and investments of different market players over the last few years. The company profiles section details the business overview, financial performance (public companies) for the past few years, key products and services being offered along with the recent deals and investments of these important players in the global radio modem market.
By Communication Channel
Point to Point
Point to Multi-Point
Vehicle to Infrastructure Communication
Traffic Management System
Electronic Fee Collection
Emergency Management System
Middle East and Africa
Campbell Scientific Inc.
Advantech B+B SmartWorx
Arada Systems Inc.
For more information about this report visit https://www.researchandmarkets.com/r/l1qn3a
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