According to a new report published by MarkWide Research, titled, “Global Wireless Data Radio Modem Market,” the global market for wireless data radio modems is expected to experience significant growth. These modems play a vital role in establishing reliable wireless communication links across various industries.
The report reveals that the global wireless data radio modem market is projected to witness a robust CAGR of 6.7% over the forecast period from 2023 to 2030. This growth is driven by the increasing demand for real-time data transmission, the expansion of IoT applications, and advancements in wireless communication technology.
Key Findings from the Report:
- Wireless Connectivity: Wireless data radio modems enable the transmission of data over radio frequencies, offering flexibility and reliability.
- IoT Integration: They are integral to IoT networks for connecting sensors, devices, and machinery in smart applications.
- Industrial Applications: Wireless modems find use in industries such as agriculture, energy, and logistics for remote monitoring and control.
- Technological Advancements: Ongoing research focuses on improving data transmission speeds and signal range.
- Global Connectivity: The market aligns with the growing need for remote monitoring and automation in various sectors.
The report indicates that the global wireless data radio modem market is currently valued at $987 million in 2023 and is projected to reach $1.7 billion by 2030, with a CAGR of 6.7% during the forecast period. North America and Asia-Pacific are expected to be key regions for market growth, driven by industrial and IoT applications.
Key players in the global wireless data radio modem market include Advantech Co., Ltd., Campbell Scientific, Inc., and Digi International Inc. These companies specialize in the development and supply of wireless data radio modems for various applications.
The global wireless data radio modem market is poised for substantial growth, driven by the demand for reliable wireless communication in IoT and industrial applications. With a projected CAGR of 6.7% by 2030, this market offers opportunities for manufacturers to support seamless data connectivity.