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$20.82 Billion Land Mobile Radio Market by Type, Technology, Frequency, Application & Geography - Global Forecast to 2022 - Research and Markets

[March 14, 2017]

$20.82 Billion Land Mobile Radio Market by Type, Technology, Frequency, Application & Geography - Global Forecast to 2022 - Research and Markets

Research and Markets has announced the addition of the "Land Mobile Radio Market - Global Forecast to 2022" report to their offering.

The LMR market is expected to be valued at USD 20.82 billion by 2022, growing at a CAGR of 14.3% between 2016 and 2022.

The key driving factors for the growth of the land mobile radio market are demand for inexpensive and reliable land mobile radios, significance of efficient critical communication operations, application of land mobile radios in diverse industries, and transition of communication devices from analog to digital. However, spectrum shortage, limited channel capacity, and high cost of building land mobile radios are some of the key factors preventing the growth of the land mobile radio market.

The land mobile radio market for software is expected to grow at a high rate during the forecast period. Digital technology is likely to grow at the highest rate due to the presence ofadvanced technologies such as TETRA, which provide features such as group chats, enhanced voice clarity, higher quality coverage, longer battery life, and availability of customized software applications.

The oil and gas industry is expected to hold the largest size of the land mobile radio market during the forecast period. The use of portable land mobile radios for almost every commercial and public safety organization, such as in police stations, fire departments, emergency medical services, is the major reason for the largest market share of the segment.

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