How Big is Siyata’s Potential Market?
The contract (valued at over $925,000) is for a single end-use customer to equip their fleet of yellow school buses. In general, Siyata’s target market has been addressing the emergency response sector of the public safety industry—especially after the UV350 was announced as the only in-vehicle PTT communications device approved for use on FirstNet.
So, you maybe asking why would a school bus driver need a UV350?
The answer lies mainly in the problem that drivers of ALL vehicles equipped with LMR are facing: limited range of network coverage.
Once you drive out of LMR’s defined network coverage area, your two-way radio system is rendered useless, thus creating a major safety hazard. In addition, LMR is a single purpose device, meaning it can only provide two-way talk. That’s it!
Today’s press release stated, “…several new yellow school bus trials have commenced in counties adjoining Siyata’s existing customers, each representing an opportunity of similar or greater magnitude giving a robust sales pipeline for additional potential orders in Q3 and beyond.”
With first responder vehicles starting to tap into Siyata’s niche value, the company’s market could expand considerably.