The global market for wireless communication modules is expected to approximately double in value over the next decade, according to consulting firm GlobalData. This growth is expected to come from an increase in smart meter deployments, with the market as a whole jumping from $532 million in 2012, to $1.3 billion in 2020.
The company has reported that North America is currently the dominant player in the global wireless communication modules market for smart meters and will be the key driving force behind the jump in value. Revenue for the North American market is expected to climb steadily from $379 million in 2012 to $433.7 million in 2020.
Europe will also play a part in the success of the global market, largely due to the number of pilot-scale projects.