Global Wave Modems Market Size to Reach USD 8.30 Billion in 2032 | Emergen Research
Rising demand for high-speed wireless connectivity is a key factor driving market revenue growth
Vancouver, Sept. 13, 2023 (GLOBE NEWSWIRE) — The global wave modems market size was USD 2.45 Billion in 2022 and is expected to register a steady revenue CAGR of 13.0% during the forecast period, according to the latest analysis by Emergen Research. Rising demand for high-speed wireless connectivity is a major factor driving market revenue growth. Wave modems have become popular because of the increasing use of Internet of Things (IoT) and proliferation of linked devices.
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A few applications of these modems include remote data monitoring, industrial automation, and Machine-to-Machine (M2M) communication. The ability to use broadband bandwidth is crucial for Internet Protocol (IP) traffic. Increase in broadband speed results in more people using applications and consuming high-bandwidth material. The deployment and uptake of Fiber-To-The-Home (FTTH), the uptake of high-speed Digital Subscriber Line (DSL) and cable broadband, and overall broadband penetration all have an impact on the projection for fixed broadband speeds. In addition, rising usage of Fifth generation (5G) technology, which offers faster speeds and lower latency than previous generations of cellular networks, is another key factor driving revenue growth of the market
However, high implementation costs, complex regulatory framework, security issues, and competition from other wireless technologies are key factors, which could restrain market revenue growth. Due to the high implementation costs, wave modem adoption may be challenging for enterprises, particularly smaller ones. Since different countries and regions have different rules governing the usage of wireless spectrum, businesses may find it challenging to deploy wave modems in these circumstances. Security issues have been raised due to the volume of data being transmitted as a result of increasing number of wirelessly linked devices.
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Scope of Research
|Market Size in 2022||USD 2.45 Billion|
|Revenue Forecast To 2032||USD 8.30 Billion|
|Base Year For Estimation||2022|
|Quantitative Units||Revenue in USD Billion and CAGR in % from 2023 to 2032|
|Report Coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments Covered||Deployment type, end-use vertical and region|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Country Scope||U.S., Canada, Mexico, Germany, France, UK, Italy, Spain, Benelux, Rest of Europe, China, India, Japan, South Korea, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, South Africa, Turkey, and Rest of Middle East & Africa|
|Key Companies Profiled||Honeywell International Inc., Cisco Systems, Inc., Huawei Technologies, Verizon Communications, Ericsson, National Instruments, ZTE Corporation, AT&T, Nokia, and General Electric.|
|Customization Scope||10 hours of free customization and expert consultation|
Major Companies and Competitive Landscape
The global wave modems market is fairly consolidated with few small and medium-sized market players accounting for the majority of revenue. Major players are deploying various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing, and introducing more effective in the market. Some major players included in the market report are:
- Honeywell International Inc.
- Cisco Systems, Inc.
- Huawei Technologies
- Verizon Communications
- National Instruments
- ZTE Corporation
- General Electric
- Shanghai Plastech Group Limited
- Potsdam Speciality Paper Inc.
- On 2 February, 2021, MediaTek unveiled the M80 5G modem, a single chip that integrates mmWave and sub-6 GHz 5G technology. With a peak rate of 7.67 Gbps in the downlink and 3.76 Gbps in the uplink, the M80 enables extremely fast speeds on both Non-Standalone (NSA) and Standalone (SA) architectures. For more dependable connectivity, the M80 also supports dual Voice over New Radio (VoNR), dual 5G NSA and SA networks, and dual 5G SIM.
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Some Key Highlights From the Report
- The outdoor segment is expected to account for largest revenue share in the global wave modems market during the forecast period. This is due to rising adoption of long-distance communication technologies such as, Internet of Things (IoT) and M2M communication, as well as number of wave modems installed outside such as on poles, towers, or buildings.
- The industrial automation segment is expected to register steadily fast revenue growth rate in the global wave modems market over the forecast period. This is because wave modems are increasingly employed for activities including process automation, remote monitoring, and preventive maintenance. Wave modems are utilized to deliver fast and dependable connectivity for the purpose of remote monitoring, or remote observation of equipment. In addition, wave modems serve this function by providing high-speed and dependable communication and predictive maintenance by anticipating when equipment may break down.
- The Asia Pacific market is expected to account for largest revenue share in the global wave modems market during the forecast period. due to rising necessity for cutting-edge telecommunications solutions.
- On 4 October, 2021, CommScope introduced new and innovative ARRIS SURFboard G34 and G36 DOCSIS 3.1 Cable Modem & Wi-Fi 6 routers. The ARRIS SURFboard G34 and G36, which include the most recent DOCSIS 3.1 and Wi-Fi 6 technologies, were created for customers who want to modernize and future-proof their home network for maximum performance. Customers can host several online gaming sessions and watch multiple 4K ultra-HD videos without interruption.
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Emergen Research has segmented the global wave modems market on the basis of deployment type, end-use vertical, and region:
- Deployment Type Outlook (Revenue, USD Billion; 2019–2032)
- End-Use Vertical Outlook (Revenue, USD Billion; 2019–2032)
- Industrial Automation
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
- North America
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