Connect with us

Technology

/C O R R E C T I O N — Siyata Mobile Inc./

Published

on

In the news release, Siyata Mobile Announces Second Quarter Financial Results, issued 15-Aug-2024 by Siyata Mobile Inc. over PR Newswire, we are advised by the company that the section Key financial highlights for the three months ended June 30, 2024:, first bullet point, should read “Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.” rather than “Revenues were $1.6 million compared to $2.7 million for the three months ended June 30, 2023.” In addition the second bullet point of the same section should read “Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue…” rather than “Gross profit of ($144,000), or -8.9% of revenue, compared to $804,000, or 29.7% of revenue…” as originally issued inadvertently. The complete, corrected release follows:

Siyata Mobile Announces Second Quarter Financial Results

Management to Host Conference Call at 8:30 a.m. ET on Friday, August 16

VANCOUVER, BC, Aug. 15, 2024 /CNW/ — Siyata Mobile Inc. (Nasdaq: SYTA) (“Siyata” or the “Company”), a global developer and vendor of Push-to-Talk over Cellular (PoC) handsets and accessories, today announced its financial results for the three months ended June 30, 2024.

Marc Seelenfreund, CEO of Siyata, said, “Second quarter revenue growth was tempered in large part due to the timing of the delivery of customer orders. However, we have a backlog of more than $7 million of confirmed orders, which gives us strong visibility into the second half of 2024. As such, we expect the third quarter will be a break-out quarter with high double digit year-over-year growth as the delivery of orders accelerates. We have achieved ‘stocked’ status for our SD7 handsets with four of the largest North American cellular carriers and continue to tap into new vertical markets reinforcing a growth trajectory that extends into 2025 and beyond.”

Key financial highlights for the three months ended June 30, 2024:

Revenues were $1.9 million compared to $2.7 million for the three months ended June 30, 2023.
Gross profit of $0.2 million, or 10.4% of revenue, compared to $0.8 million, or 29.7% of revenue, in the same period last year, primarily due to a one-time heavily discounted transaction to an international reseller which we believe will positively impact revenue in second half of 2024.
Net loss was $12.9 million as compared to a net loss of $2.3 million in the same period in the prior year, primarily due to a non cash recognition of the differences between fair value of capital raises compared to cash received resulting in a $6.7 million additional loss, as well as a $1.0 million loss due to transaction costs incurred for the financings and $2.0 million of marketing costs on investor awareness of our Company.
Adjusted EBITDA was ($3.8 million), versus ($2.0 million) in the prior year.

Liquidity and Capital Resources

As of June 30, 2024, the Company had a cash balance of $2.7 million compared to $0.9 million as of December 31, 2023.

During the second quarter, the company closed two public offerings of common shares and/or pre-funded warrants to purchase common shares for gross proceeds of approximately $10 million in aggregate.

Conference Call Details

The Company will host a conference call at 8:30 a.m. ET on Friday, August 16, 2024 to discuss its second quarter 2024 financial results.

Date: Friday, August 16, 2024
Time: 8:30 a.m. Eastern Time/5:30 a.m. Pacific Time
North America dial-in number: 888-506-0062
International toll-free dial-in number: 973-528-0011
Access Code: 922573

A replay will be available until August 30, 2024. To access the replay, dial +1 (877) 481-4010 or +1 (919) 882-2331. When prompted, enter Passcode 51033.

The call will also be available over the Internet and accessible at: https://www.webcaster4.com/Webcast/Page/2988/51033

About Siyata Mobile

Siyata Mobile Inc. is a B2B global developer and vendor of next-generation Push-To-Talk over Cellular handsets and accessories. Its portfolio of rugged PTT handsets and accessories enables first responders and enterprise workers to instantly communicate over a nationwide cellular network of choice, to increase situational awareness and save lives. Police, fire, and ambulance organizations as well as schools, utilities, security companies, hospitals, waste management companies, resorts and many other organizations use Siyata PTT handsets and accessories today.

In support of our Push-to-Talk handsets and accessories, Siyata also offers enterprise-grade In-Vehicle solutions and Cellular Booster systems enabling our customers to communicate effectively when they are in their vehicles, and even in areas where the cellular signal is weak.

Siyata sells its portfolio through leading North American cellular carriers, and through international cellular carriers and distributors.

Siyata’s common shares trade on the Nasdaq under the symbol “SYTA”.

Visit www.siyata.net and unidencellular.com to learn more.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 and other Federal securities laws. Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” and similar expressions or variations of such words are intended to identify forward-looking statements. Because such statements deal with future events and are based on Siyata’s current expectations, they are subject to various risks and uncertainties and actual results, performance, or achievements of Siyata could differ materially from those described in or implied by the statements in this press release. The forward-looking statements contained or implied in this press release are subject to other risks and uncertainties, including those discussed under the heading “Risk Factors” in Siyata’s filings with the Securities and Exchange Commission (“SEC”), and in any subsequent filings with the SEC. Except as otherwise required by law, Siyata undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. References and links to websites and social media have been provided as a convenience, and the information contained on such websites or social media is not incorporated by reference into this press release. 

— Tables Follow —

Siyata Mobile Inc.

Condensed Consolidated Statements of Financial Position

(Expressed in US dollars)

 
 
 

USD

 
 

USD

 
 
 

June 30,
2024

 
 

December 31,
2023

 

Assets

 
 
 
 
 
 

Current

 
 
 
 
 
 

Cash

 
 

2,653,226

 
 
 

898,771

 

Trade And Other Receivables

 
 

1,508,799

 
 
 

1,181,257

 

Prepaid Expenses

 
 

2,244,232

 
 
 

29,673

 

Inventory

 
 

2,299,647

 
 
 

3,544,519

 

Advance To Suppliers

 
 

891,144

 
 
 

1,048,227

 
 
 
 

9,597,048

 
 
 

6,702,447

 

Long Term Receivable

 
 

142,904

 
 
 

147,100

 

Investment in Securities

 
 

1,000,000

 
 
 

 

Right Of Use Assets

 
 

500,849

 
 
 

630,793

 

Equipment

 
 

157,022

 
 
 

175,335

 

Intangible Assets

 
 

7,785,176

 
 
 

7,856,730

 

Total Assets

 
 

19,182,999

 
 
 

15,512,405

 
 
 
 
 
 
 
 
 
 

Liabilities And Shareholders’ Equity

 
 
 
 
 
 
 
 

Current

 
 
 
 
 
 
 
 

Loans to Financial Institutions

 
 

619,068

 
 
 

89,298

 

Sale of future receipts

 
 

2,152,375

 
 
 

1,467,899

 

Accounts Payable and Accrued Liabilities

 
 

4,087,199

 
 
 

3,449,103

 

Deferred Revenue

 
 

3,182

 
 
 

2,025

 

Short Term Lease Liability

 
 

243,214

 
 
 

254,668

 

Warrant Liability and Preferred Shares

 
 

10,755,482

 
 
 

156,433

 
 
 
 

17,860,520

 
 
 

5,419,426

 

Long Term Lease Liability

 
 

284,393

 
 
 

385,639

 
 
 
 

284,393

 
 
 

385,639

 

Total Liabilities

 
 

18,144,913

 
 
 

5,805,065

 

Shareholders’ Equity

 
 
 
 
 
 
 
 

Share Capital

 
 

92,565,727

 
 
 

85,714,727

 

Reserves

 
 

14,845,086

 
 
 

14,644,200

 

Accumulated Other Comprehensive Loss

 
 

98,870

 
 
 

98,870

 

Deficit

 
 

(106,471,597)

 
 
 

(90,750,457)

 
 
 
 

1,038,086

 
 
 

9,707,340

 

Total Liabilities And Shareholders’ Equity

 
 

19,182,999

 
 
 

15,512,405

 

 

Siyata Mobile Inc.

Condensed Consolidated Statements of Loss and Comprehensive Loss

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 
 
 
 
 
 
 
 
 
 
 
 
 
 

Revenue

 

$

1,890,968

 
 

$

2,710,717

 
 

$

4,248,847

 
 

$

4,513,354

 

Cost Of Sales

 
 

(1,694,154)

 
 
 

(1,906,227)

 
 
 

(3,188,616)

 
 
 

(3,212,347)

 

Gross Profit

 
 

196,814

 
 
 

804,490

 
 
 

1,060,231

 
 
 

1,301,007

 
 
 
 

10.4

%

 
 

29.7

%

 
 

25.0

%

 
 

28.8

%

Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Development Expenses

 
 

 
 
 

31,465

 
 
 

35,000

 
 
 

85,450

 

Selling And Marketing

 
 

954,388

 
 
 

987,803

 
 
 

2,102,406

 
 
 

1,991,168

 

Equity promotion and marketing

 
 

2,000,000

 
 
 

250,000

 
 
 

2,150,000

 
 
 

591,200

 

General And Administrative

 
 

1,033,301

 
 
 

1,503,382

 
 
 

2,071,853

 
 
 

2,554,612

 

Bad Debts (Recovered)

 
 

 
 
 

10,148

 
 
 

18,858

 
 
 

10,148

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 

Total Operating Expenses

 
 

4,504,580

 
 
 

3,497,002

 
 
 

7,416,790

 
 
 

6,659,250

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Net Operating Loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Other Expenses

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Finance Expense

 
 

942,283

 
 
 

41,251

 
 
 

1,722,039

 
 
 

75,349

 

Loss on issuance

 
 

6,129,282

 
 
 

 
 
 

6,129,282

 
 
 

 

Loss on extinguishment of financial liability

 
 

601,163

 
 
 

 
 
 

601,163

 
 
 

 

Foreign Exchange

 
 

(1,706)

 
 
 

(78,762)

 
 
 

(10,651)

 
 
 

(78,599)

 

Change In Fair Value of Warrant Liability

 
 

(31,986)

 
 
 

(321,384)

 
 
 

(54,570)

 
 
 

1,856,623

 

Transaction Costs

 
 

977,318

 
 
 

 
 
 

977,318

 
 
 

 

Total Other Expenses

 
 

8,616,354

 
 
 

(358,895)

 
 
 

9,364,581

 
 
 

1,853,373

 

Net Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Comprehensive Loss for The Period

 
 

(12,924,120)

 
 
 

(2,333,617)

 
 
 

(15,721,140)

 
 
 

(7,211,616)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Weighted average shares (after 18 to 1 reverse split)

 
 

108,922

 
 
 

5,417

 
 
 

70,307

 
 
 

4,691

 

Basic and diluted loss per share

 
 

(118.65)

 
 
 

(430.78)

 
 
 

(223.61)

 
 
 

(1,537.33)

 

 

Reconciliation to Adjusted EBITDA

(Expressed in US dollars)

For the three and six months ended June 30, 2024 and 2023

 
 
 

Three Months Ended

 
 

Six Months Ended

 
 
 

June 30,
2024

 
 

June 30,
2023

 
 

June 30,
2024

 
 

June 30,
2023

 

Net operating loss

 
 

(4,307,766)

 
 
 

(2,692,512)

 
 
 

(6,356,559)

 
 
 

(5,358,243)

 

addback

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Amortization And Depreciation

 
 

433,129

 
 
 

453,499

 
 
 

837,787

 
 
 

855,139

 

Share-Based Payments

 
 

83,762

 
 
 

260,705

 
 
 

200,886

 
 
 

571,533

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Adjusted EBITDA

 
 

(3,790,875)

 
 
 

(1,978,308)

 
 
 

(5,317,886)

 
 
 

(3,931,571)

 

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/siyata-mobile-announces-second-quarter-financial-results-302224050.html

SOURCE Siyata Mobile Inc.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

The Radio Market is projected to grow by USD 8.47 Billion from 2024-2028, with AI-driven transformations enhancing access to music and live updates – Technavio

Published

on

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report with the AI impact on market trends – The global radio market size is estimated to grow by USD 8.47 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  3%  during the forecast period. Access to latest music and live updates is driving market growth, with a trend towards online radio services  However, availability of music streaming services  poses a challenge – Key market players include Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View the snapshot of this report

Radio Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2024-2028

USD 8479.2 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.91

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 30%

Key countries

US, UK, Germany, China, and Japan

Key companies profiled

Audacy Inc., Australian Broadcasting Corp., BCE Inc., Beasley Broadcast Group Inc., Bertelsmann SE and Co. KGaA, Bonneville International, Cox Enterprises Inc., Cumulus Media Inc., Deseret Management Corp., EMMIS Communications Corp., Global Media Group Services Ltd., Heinrich Bauer Verlag KG, iHeartMedia Inc., Minnesota Public Radio, Paramount Global, SAGA COMMUNICATIONS INC., SALEM MEDIA GROUP INC., Sirius XM Holdings Inc., The Walt Disney Co., and Townsquare Media Inc.

Market Driver

Online radio streaming is a popular way to access radio content, with many vendors offering their services over the Internet. Some radio channels have merged with streaming portals, providing listeners with the flexibility to choose between live radio and on-demand music. Vendors like Pandora and Apple Music offer both services. The growing Internet penetration and mobile Internet availability are driving the demand for Internet radio, positively impacting the global radio market during the forecast period. 

[Background music playing softly in the background] Narrator (enthusiastically): “Hello and welcome to this week’s edition of Radio Market! Today, we’re diving into the latest trends shaping the radio industry. First up, mobile radios are on the rise, with interoperability ensuring seamless communication for terrestrial users. Digital technology brings US hand-held devices, like walkie talkies, offering group chats, enhanced voice quality, longer battery life, and budget-friendly prices. Advancements include breakthroughs in frequency ranges, allowing for higher quality audio and priority access. In the commercial sector, Cryptomania radio and Triton Digital lead the way, while military modernization embraces digital capabilities for trunking, digital capabilities, group calling, and rapid voice transmission. In the transportation and utility sectors, smart radios offer superior range accessibility. IHeartMedia in Athens, Greece, is testing analog voice with two-way communications, while digital technology continues to revolutionize radio communications. Stay tuned for more Radio Market updates!”

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Music streaming services, including Amazon Music, Google Play Music, and Deezer, have emerged as significant competitors in the radio industry. With growing popularity and competitive pricing, an increasing number of listeners are opting for online music streaming instead of traditional radio. Many music streaming applications are accessible for free online, enabling users to play their preferred tracks. The proliferation of mobile Internet penetration allows listeners to access and download music on their mobile devices, offering convenience and flexibility. Music streaming platforms provide an extensive range of music genres and tracks, posing a challenge to the global radio market in the forecast period.[Background Music Playing] Narrator (Voiceover): “Welcome listeners to Cryptomania Radio, where we bring you the latest business news. Today, we’re discussing the challenges facing the radio industry, particularly in the areas of public safety communications. With the rise of digital capabilities in radio, players like Triton Digital and iHeartMedia are investing heavily in smart radio solutions. Military modernization and the need for real-time communication in the face of crime, terrorism, and natural disasters, have pushed the demand for high-quality audio, priority access, and effective response systems. Traditional analog voice systems are being replaced with two-way communications, trunking, and group calling. New technologies like rapid voice and site trunking are becoming essential for public safety agencies. However, these demands come with challenges such as spectrum efficiency, harmonized spectrum, and security threats. Cross-agency coordination and information sharing are also major factors. Vendor offerings, research methodologies, and interface manufacturers are key players in this market. The micromarkets for these solutions show individual growth trends, with joint ventures and research and development driving innovation. Stay tuned for more insights on Cryptomania Radio.”

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

This radio market report extensively covers market segmentation by

Type 1.1 Broadcast radio1.2 Online mobile radio1.3 Satellite radioRevenue 2.1 Advertising2.2 Public license fee2.3 SubscriptionGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Broadcast radio-  The Radio Market is a thriving business sector where broadcasters reach out to diverse audiences through various radio formats. Advertisers invest in radio advertising due to its wide reach and affordability. Radio stations generate revenue through sponsorships, commercials, and subscriptions. Effective programming and audience engagement strategies are essential for radio stations to retain listeners and attract new ones. Radio’s accessibility and convenience make it an attractive advertising medium for businesses aiming to expand their customer base.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

Research Analysis

[Opening jingle plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest technology trends and innovations. Today, we’re diving into the world of modern radio communications. With the rise of digital capabilities, radio technology is evolving at an incredible pace. Triton Digital and other players are leading the charge towards smart radio, offering high-quality audio, priority access, and group calling features. But radio communications aren’t just for broadcasters anymore. Military modernization, crime prevention, and disaster response are all areas where two-way communications are essential. In Athens, Greece, analog voice systems are being replaced with digital trunking networks, providing more effective response to emergencies. New technologies like rapid voice and high-priority access are revolutionizing the way we communicate. From micromarkets to individual growth trends, research and development is key. Vendor offerings, interface manufacturers, and system integrators are all working together in joint ventures to push the boundaries of what’s possible. Stay tuned for more insights on this exciting topic.” [Closing jingle plays]

Market Research Overview

[Intro music plays] [Host]: “Welcome to Cryptomania Radio, your daily source for the latest trends and innovations in technology. Today, we’re diving into the world of radio communications, focusing on military modernization and the evolution of smart radios. [SFX: Military marching music] [Host]: “Gone are the days of analog voice and two-way communications. Military modernization has led to the adoption of digital capabilities, including group calling, priority access, and high-quality audio. But what about public safety and emergency response? Real-time communication is crucial during crime, terrorism, and natural disasters. [SFX: Siren sound] [Host]: “New technologies, such as site trunking and cross-agency coordination, are essential for effective response. Spectrum efficiency and harmonized spectrum are major factors in the micromarkets of individual growth trends. Vendor offerings from companies like Triton Digital and iHeartMedia are shaping the future of radio communications. [SFX: Radio static] [Host]: “From commercial applications in the transportation and utility sectors to advancements in handheld devices like walkie-talkies, digital technology is revolutionizing the way we communicate. Stay tuned for more on interoperability, seamless communication, and the future of radio communications. [SFX: Upbeat music]” [End music plays] [Host]: “That’s all for today on Cryptomania Radio. Join US tomorrow for another exciting episode. Until then, stay informed and stay connected.”

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

TypeBroadcast RadioOnline Mobile RadioSatellite RadioRevenueAdvertisingPublic License FeeSubscriptionGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-radio-market-is-projected-to-grow-by-usd-8-47-billion-from-2024-2028–with-ai-driven-transformations-enhancing-access-to-music-and-live-updates–technavio-302255533.html

SOURCE Technavio

Continue Reading

Technology

Wireless Router Market to Grow by USD 8.09 Billion from 2024-2028, Driven by Rising Adoption of Smart Home Systems, AI Powered Report by Technavio

Published

on

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is driving market transformation- The global wireless router market size is estimated to grow by USD 8.09 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 9.24%  during the forecast period. Increasing adoption of smart connected home systems is driving market growth, with a trend towards increasing use of wireless router in retail industry. However, inferior communication network infrastructure in developing regions poses a challenge. Key market players include Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

End-user (Non-Residential and Residential), Type (Fixed and Mobile), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Adtran Holdings Inc., Amped Wireless, ASUSTeK Computer Inc., Broadcom Inc., Buffalo Americas Inc., China Huaxin Post and Telecom Technologies Co. Ltd., Cisco Systems Inc., D Link Corp., DrayTek Corp., EDIMAX Technology Co. Ltd., Extreme Networks Inc., Hon Hai Precision Industry Co. Ltd., Huawei Investment & Holding Co., Ltd., Juniper Networks Inc., MERCUSYS Technologies Co. Ltd., Netgear Inc., Shenzhen Tenda Technology Co. Ltd., SIA Mikrotikls, TP Link Corp. Ltd., and Xiaomi Communications Co. Ltd.

Key Market Trends Fueling Growth

In the retail industry, providing a cost-effective and optimal customer experience is crucial in a highly competitive market. Wireless connected solutions, including point-of-sale (POS) systems, vending machines, radio frequency identification systems, and kiosks, help retailers streamline processes and enhance the shopping experience. POS systems enable flexible payment options and improved queue management, creating a better customer experience. Retail businesses face numerous risks related to security, safety, communications, and building automation. Remote monitoring and security systems, such as machine-to-machine (M2M) security systems, play a vital role in mitigating these risks. These systems detect intrusion and shoplifting, handle fire and explosion incidents, and manage access authorizations. Retail security devices, like security alarms and mechanical security, are cost-effective solutions to protect merchandise. Technologies like electronic article surveillance are adopted to prevent shoplifting. M2M security systems, with declining installation costs and tariff rates, offer retailers real-time alerts and remote monitoring capabilities. Wireless routers are essential for the functioning of POS systems and security systems, enabling seamless information exchange among multiple devices in the retail sector. These factors contribute to the growth of the global wireless router market during the forecast period. 

The Wireless Router market is experiencing significant growth due to the increasing trend of Smart City Initiatives and the need for connectivity in various infrastructure projects. With the expansion of intelligent surveillance networks, public Wi-Fi hotspots, and smart transportation systems, the demand for high-performance wireless routers is on the rise. Consumer electronics such as gaming consoles, cellphones, and streaming devices also contribute to the market’s growth. Mesh networking is a popular trend, with mesh networking systems offering improved coverage and next-generation connectivity. However, the market faces challenges such as security worries, cybersecurity risks, and technological fragmentation due to the proliferation of ransomware, malware, and unauthorized access. High-end wireless routers are in demand for both residential and business settings, but their limited coverage necessitates the use of range extenders. Broadband connectivity and internet infrastructure investments are crucial for regulatory compliance requirements, especially in rural areas where digital services are essential. The market is witnessing the emergence of 5G, but privacy concerns persist, leading to the development of privacy-enhancing features and transparent data practices. Wi-Fi standards, including Wi-Fi 4 (802.11n), Wi-Fi 5 (802.11ac), and Wi-Fi 6 (802.11ax), continue to evolve to meet the demands of consumers and businesses alike. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

 A  network infrastructure is essential for efficient Internet communication and multimedia streaming, which involves Voice over Internet Protocol (VoIP) calls and live streaming of music and videos. However, several developing countries, including Bangladesh, Central African Republic, Nepal, and Haiti, lack the necessary Internet network and telecom infrastructure to support high-speed Internet networks. In many Asian countries, 4G technology is still in its initial stages, with Pakistan being one of the countries yet to witness significant adoption. The absence of 4G technology can hinder the growth of the wireless router market, as it is a crucial component of reliable and uninterrupted telecom services. Moreover, many rural areas in the Asia-Pacific and Middle East and Africa regions are still without 4G connections, and several developing countries lack geographically extensive telecom networks. These challenges will restrict the growth of the global wireless router market during the forecast period.The wireless router market faces challenges in providing reliable products that support interoperable single-band, dual-band, and tri-band devices. Interference from frequency bands can affect dependable internet access, especially during simultaneous connections. Dual-band routers are popular in industries like financial services, information technology, telecommunications, retail, and healthcare for connected devices such as heart-rate monitoring equipment and patient-centric care delivery. With the rise of high-speed internet, Wi-Fi 6 standards, smart homes, and 5G infrastructure, businesses need routers that can handle bandwidth-intensive apps, smart home gadgets, and network traffic. D-Link’s AI-powered Wi-Fi router and Wi-Fi 6E routers offer solutions for high-speed connectivity, security features, and seamless integration with smart devices. Companies like D-Link are addressing these challenges to meet the demands of distant work, online learning, and 5G networks for higher bandwidths and internet penetration.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This wireless router market report extensively covers market segmentation by

End-user 1.1 Non-Residential1.2 ResidentialType 2.1 Fixed2.2 MobileGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Non-Residential-  The Wireless Router Market is experiencing significant growth due to the increasing demand for reliable and high-speed internet connections. Companies are investing in advanced technologies like MU-MIMO and beamforming to enhance network performance. Additionally, the rise of IoT devices and work-from-home culture is driving the market forward. Major players include Netgear, D-Link, and TP-Link, who are continuously innovating to meet consumer needs. Overall, the Wireless Router Market is poised for continued expansion in the coming years.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The wireless router market is a dynamic and growing industry that provides high-speed internet access for private computer networks, enabling wireless-only LAN connections for various devices such as laptops, smart home devices, Smart TVs, speakers, security cameras, and more. With the increasing number of connected devices and bandwidth-intensive apps, the demand for wireless routers and wireless access points is on the rise. The wireless router industry caters to both residential and commercial sectors, offering single-band, dual-band, and tri-band options to meet diverse network traffic needs. The advent of 5G infrastructure and Wi-Fi 6 technology, including Wi-Fi 6E routers, has further boosted the market’s growth. Mobile broadband and M2M communication are also driving new opportunities in the wireless router market, particularly for home offices and other remote work environments.

Market Research Overview

The wireless router market is a dynamic and growing industry that provides high-speed internet access for both residential and business settings. Wireless routers and wireless access points enable the creation of private computer networks, allowing connected devices such as laptops, smart home devices, and IoT gadgets to access the internet. The industry caters to various sectors including financial services, information technology, telecommunications, retail, and healthcare, among others. Wi-Fi technology, with its superior performance and interoperability, is a key driver for the market. Single-band, dual-band, and tri-band wireless routers cater to different needs, with dual-band and tri-band routers offering better performance in high-density areas and simultaneous connections. The wireless router industry is witnessing significant growth due to the increasing number of connected devices, the rise of high-speed internet markets, and the adoption of Wi-Fi 6 standards. The market is also being influenced by the proliferation of 5G networks and the higher bandwidths they offer, as well as the trend towards mesh networking systems. Security features are becoming increasingly important, with consumers and businesses demanding secure and reliable products. The market is also witnessing the emergence of AI-powered Wi-Fi routers and the integration of Wi-Fi technology into smart homes and cities. The market is expected to continue growing, driven by the increasing demand for next-generation connectivity and the increasing number of bandwidth-intensive apps and smart home gadgets. However, security worries remain a concern, and manufacturers must address these concerns to ensure customer trust.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

End-userNon-ResidentialResidentialTypeFixedMobileGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/wireless-router-market-to-grow-by-usd-8-09-billion-from-2024-2028–driven-by-rising-adoption-of-smart-home-systems-ai-powered-report-by-technavio-302256627.html

SOURCE Technavio

Continue Reading

Technology

The home energy management systems market is projected to grow by USD 1.97 Billion from 2024-2028, with AI impacting trends and rising smart grid adoption driving revenue – Technavio

Published

on

By

NEW YORK, Sept. 24, 2024 /PRNewswire/ — Report on how AI is redefining market landscape – The Global Home Energy Management Systems market  size is estimated to grow by USD 1.97 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of  10.01%  during the forecast period.  Growing adoption of smart grid technologies is driving market growth, with a trend towards growing investment in smart cities and smart homes  However, high cost of implementation and interoperability issues  poses a challenge – Key market players include Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Component (Hardware, Software, and Services), Product (Lighting controls, Programmable thermostats, Self-monitoring systems, and Advanced central controllers), and Geography (North America, Europe, APAC, South America, and Middle East and Africa)

Region Covered

North America, Europe, APAC, South America, and Middle East and Africa

Key companies profiled

Capgemini Service SAS, Carrier Global Corp., Cisco Systems Inc., Comcast Corp., ecobee, Emerson Electric Co., General Electric Co., Honeywell International Inc., Intel Corp., Johnson Controls International Plc., Lennox International Inc., Liricco Technologies Ltd., Panasonic Holdings Corp., Resideo Technologies Inc., Robert Bosch GmbH, Schneider Electric SE, Siemens AG, Snap One LLC, tado GmbH, and Vivint Inc.

Key Market Trends Fueling Growth

The smart home market is experiencing significant growth as consumers seek to enhance convenience and efficiency in their living spaces. Advanced sensors and affordable technologies enable homeowners to connect and control appliances such as heating systems, lighting, air conditioning, computers, TVs, entertainment systems, security devices, and cameras using smartphones and tablets. Artificial intelligence predicts consumer preferences based on historical data. The rise of smart homes is driven by the increasing number of working couples with dual incomes in North America, Europe, and emerging economies in APAC. Governments worldwide are investing in smart city projects, particularly in the Middle East, increasing the demand for home energy management systems and fueling the growth of the global market.

The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption. This Industry Analysis Report covers trends such as the adoption of hybrid technology, IoT technologies, and machine learning in HEMS. Key players like Iberdrola are leading the way with advanced central controllers, intelligent HVAC controllers, and self-monitoring systems. New construction and multi-family residences are embracing smart home technologies, including programmable communicating thermostats and smart meters. Deployment types include cloud deployment and Wi-Fi, with financial incentives like rebates and tax credits driving adoption. HEMS also supports smart grid development and EV charging. Power consumption data analytics and electricity usage patterns help homeowners reduce energy bills and carbon footprints. Advanced data analytics and artificial intelligence further optimize energy management strategies. Wireless protocols technology ensures seamless integration of various HEMS components. Overall, HEMS is a crucial technology for smart building development and reducing carbon footprints.

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

Home energy management systems (HEMS) offer significant energy savings by allowing homeowners to monitor and control their energy consumption in real-time. However, the high initial investment required to install these systems, which includes sensors, displays, software, and professional installation of smart thermostats, discourages many homeowners from adopting HEMS. The average cost of a smart thermostat ranges from USD250 to USD350, and additional installation fees add to the expense. Furthermore, maintenance costs are also high, increasing the overall cost of ownership. Another challenge is the use of proprietary communication technologies by various smart devices, which necessitates the use of a single platform or hub to ensure seamless integration and automation. This limits consumer choice and requires a significant investment in a single provider or multiple hubs, which may hinder the growth of the global HEMS market. In summary, the high initial and ongoing costs, along with the need for a single proprietary platform or hub, present significant barriers to the adoption of home energy management systems. These challenges may negatively impact the growth of the global HEMS market during the forecast period.The Home Energy Management Systems (HEMS) market is experiencing significant growth due to increasing concerns over greenhouse gas emissions and the need to reduce energy consumption and costs. The market comprises hardware like intelligent HVAC controllers, programmable communicating thermostats, and lighting controls, as well as software solutions and self-monitoring systems. HEMS utilizes hybrid technology, IoT, machine learning, and advanced data analytics, including artificial intelligence. Key players like Iberdrola are driving innovation through smart building development and smart grid integration. New construction and multi-family residences are prime targets for HEMS implementation. Financial incentives such as rebates, tax credits, and carbon footprint reduction are major drivers. HEMS also supports smart home technologies like Wi-Fi, Ethernet, and wireless protocols. The future of HEMS includes integration with electric vehicles (EVs), advanced central controllers, and cloud deployment for energy management strategies.

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview

This home energy management systems market report extensively covers market segmentation by

Component 1.1 Hardware1.2 Software1.3 ServicesProduct 2.1 Lighting controls2.2 Programmable thermostats2.3 Self-monitoring systems2.4 Advanced central controllersGeography 3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 Hardware-  The home energy management system market is driven by the growing adoption of advanced hardware components. This hardware includes a hub device that communicates between home events, users, and sometimes utilities or electricity retailers. Additional components, such as smart plugs, light sensors, and temperature sensors, can also be integrated. As communication and sensing technology advances, hardware is becoming a significant market focus. Wired sensor networks, with their increased reliability, longer service lives, and reduced interference, are gaining popularity. The expansion of the hardware segment is expected to boost the home energy management system market, as monitoring and controlling building operations becomes more prevalent. Consequently, the global home energy management systems market is anticipated to grow substantially during the forecast period.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022)

Research Analysis

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy consumption and cost savings in residential and commercial applications. HEMS integrates hardware and software solutions, including thermostat systems, intelligent HVAC controllers, and advanced central controllers, to manage and monitor energy usage in real-time. Wireless protocols technology, hybrid systems, and IoT integration are key trends driving market growth. New construction and deployment type are crucial factors influencing the market’s development. Industry Analysis Reports provide insights into market size, growth, trends, and opportunities. HEMS technology encompasses smart homes, electric vehicles (EVs), and lighting controls, with AI, machine learning, and advanced data analytics enhancing system capabilities. Wi-Fi and Ethernet are common communication protocols in HEMS.

Market Research Overview

The Home Energy Management Systems (HEMS) market is a rapidly growing sector in the energy industry, focused on optimizing energy usage and reducing carbon footprints in residential and commercial buildings. HEMS utilizes advanced central controllers, data analytics, artificial intelligence, and machine learning to analyze electricity usage patterns and provide energy management strategies. Cloud deployment enables remote monitoring and control of power consumption, while IoT technologies such as Ethernet, Wi-Fi, and wireless protocols facilitate seamless communication between devices. HEMS can integrate with various systems, including intelligent HVAC controllers, lighting controls, and EV charging stations. Financial incentives like rebates, tax credits, and industry analysis reports drive market growth. New construction and smart building development are major sectors adopting HEMS, while self-monitoring systems and smart home technologies are gaining popularity in multi-family residences and single-family homes. HEMS also plays a crucial role in the smart grid, enabling efficient energy distribution and reducing greenhouse gas emissions. Hybrid technology, including SunVault Storage and smart meters, further enhances the capabilities of HEMS. Overall, HEMS is a vital component of the transition towards sustainable energy solutions and reducing energy bills.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ComponentHardwareSoftwareServicesProductLighting ControlsProgrammable ThermostatsSelf-monitoring SystemsAdvanced Central ControllersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/the-home-energy-management-systems-market-is-projected-to-grow-by-usd-1-97-billion-from-2024-2028–with-ai-impacting-trends-and-rising-smart-grid-adoption-driving-revenue—technavio-302255543.html

SOURCE Technavio

Continue Reading

Trending