The global radio modem market for ITS application to grow at a CAGR of 8.9% during the forecast period to reach USD 160.8 Million by 2020. Wireless communication has revolutionized the traditional means of communication. Radio modems play a crucial role in this revolution, owing to their ability to encode, transmit, and decode data over long distances. Radio modems use radio waves for data transmission, which give users an added advantage over wired data transfer.
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The report "Radio Modem Market for ITS Application by Frequency Band (License Free, UHF, Wi-Fi, VHF), Communication Channel (Point to Multi-Point, Point to Point), Operating Range (Short, Long), Application and Geography - Global Forecast to 2020", The global radio modem market for ITS application is estimated at USD 105.1 Million in 2015, and is expected to grow at a CAGR of 8.9% from 2015 to 2020, to reach USD 160.8 Million.
Browse 46 market data tables with 38 figures spread through 111 pages and in-depth TOC on "Radio Modem Market for ITS Application - Global Forecast to 2020"
Intelligent transportation systems have been constantly evolving over the decades due to rapid technological advancements. ITS encompass a broad range of wireless and wireline communications-based information and electronics technologies.
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ITS technology-based systems are intended to facilitate the realization of optimized, efficient, smooth, and comfortable transport systems to improve traffic flow and reduce bottlenecks of traffic congestion. These systems integrate modern information and communication technology into existing transportation systems.
Cost efficiency and reliability will drive the radio modem market growth
The demand for radio modems in ITS is increasing because radio modems require minimal infrastructure for facilitating communication and ensuring delivery of data, voice, and video in the most cost-effective and reliable manner. Radio modems are also useful in data communication within a large geographic area, where wired data communication is not viable due to high costs involved.
Radio modems are also required to facilitate ITS for implementing wireless networks that are cost-effective and flexible.
Government and defense vertical contributes maximum market share
The government & defense vertical is expected to contribute the largest market share to the radio modem market. Banking, financial services and insurance (BFSI) sector is expected to grow with the highest rate from 2015 to 2020, in the radio modem market for ITS application.
The market is also projected to witness growth in healthcare and IT & telecom sectors during the forecast period. The regulatory-driven activities and initiatives taken by the government of the U.S.
and Canada have enabled the ITS market for advanced traffic management system applications in North America to be the highest revenue generator as of 2015. Some of the major organizations such as the U.S.
Department of Transportation, Research and Innovative Technology Administration (RITA), ITS America, and others are focusing towards new research & development initiatives in the field of ITS.
North America expected to contribute the largest market share, APAC to grow the fastest
North America is expected to have the largest market share and dominate the market from 2015 to 2020. The U.S. is the major driving factor for the growth of this regional market.
Use of four wheeler and heavy vehicles is very high in North America. Thus, the requirement of an effective transportation system is very high in North American countries.
In 2014, North America ranked first in the deployment of various ITS systems such as advanced transportation management system, advanced traveler information system, ITS-enabled pricing system, and commercial vehicle operation, among others. APAC is the fastest-growing market in terms of deployment of intelligent transportation systems.
Factors such as economic growth, rising incomes, and growth of population in urban areas, are expected to cause alterations with respect to transport issues.
Some of the key players in the radio modem market for ITS application covered in this report are Adeunis RF (France), Arada Systems, Inc. (U.S.), ATIM Radiocommunications (France), Autotalks Ltd.
(Israel), B&B Electronics Manufacturing Co. (U.S.), Campbell Scientific Inc.
(U.S.), Cohda Wireless (Australia), Kapsch TrafficCom AG (Austria), Motorola Solutions, Inc. (U.S.) Q Free ASA (Norway), Satel Oy (Finland), Schneider Electric SE (France), Wood & Douglas Limited (U.K.), among others.
The scope of the report covers detailed information regarding the major factors influencing the growth of the radio modem market for ITS application such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments associated with the radio modem market for ITS application.
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