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Private Mobile Radio Global Market Report 2022: Burgeoning Requirements for Efficient Critical Comms Systems Drive Growth
DUBLIN, Feb. 23, 2023 /PRNewswire/ -- The "Private Mobile Radio Market - Forecasts from 2022 to 2027" report has been added to ResearchAndMarkets.com's offering.
The private mobile radio market was valued at US$18.561 billion in 2020.
Private mobile radio refers to the two-way radio-based communication equipment that can offer uninterrupted and seamless communication to the on-field personnel working across different sectors ranging from the military to emergency medical services. Continuous communications are considered to be of utmost importance for the personnel to stay connected every time to make critical life-changing decisions instantly without any loss or breakage in their communication.
The market for private mobile radios is projected to show notable growth during the next five years, primarily on account of the burgeoning requirements for efficient critical communications systems. Decent growth in the number of personnel working across the different sectors is also considered a key factor in driving the demand for these radios in the coming years.
Significant growth in the number of criminal activities, terrorism, and natural disasters has further inclined various companies to adopt highly advanced wireless communication systems, which is also providing an impetus for the market to grow in the near future. Furthermore, the changes in the professional business environment have further led to the adoption of efficient wireless radio systems as the need for operational efficiency is increasing, especially across the travel and hospitality, and construction sectors. Also, the presence of standards and regulations regarding the use of mobile radios is one of the prime factors for its adoption throughout the globe. For instance, Terrestrial Trunked Radio (TETRA) is a digital mobile radio standard for using mobile radios across various organizations operating in public safety, utilities, government, and military sectors, among others.
The recent advent of COVID-19 is anticipated to propel the growth opportunities for the market to surge during the short run owing to the high demand for these types of radios across the emergency medical services and the healthcare sector. However, the halt in the activities across various sectors, such as communications and manufacturing, is considered to inhibit the demand to some extent and hamper the market growth in the coming six to eight months.
Rising military expenditure is expected to drive the demand
Significant growth in military expenditure around the globe in both developed and developing economies of the world also plays a significant rolein driving market growth in the coming years. The continuously evolving defense industry around the globe, due to rising investments in the latest equipment and machines to strengthen the military base, requires the continuous development of the various components to have the latest technology, which is expected to drive the demand for these radios during the forecast period.
For instance, according to the World Bank Group, global military expenditure increased to US$1.782 trillion by 2018 from US$1.491 trillion in 2008. Also, in developed economies, the growing government focus on strengthening the defence sector has led to an increase in the adoption of the latest and advanced equipment, which is also considered a key factor bolstering market growth in the near future.
The growing number of construction projects
Growth in the number of construction projects in developed and underdeveloped economies worldwide is also anticipated to drive the demand for private radios. The growing number of personnel working on these projects, along with the growing focus of the employers on the safety of workers, is expected to significantly drive the adoption of these radios across the construction sector throughout the globe and especially in the developing economies of the world.
The growing construction sector across the globe, on account of rising disposable income and rising government initiatives to boom the residential construction and infrastructural development owing to the improving economic conditions, are expected to be the key drivers to amplify the demand for these radios for the construction industry and add up to the growth of the market during the coming years. For instance, in the United States, the total value of construction, including the public and private residential and non-residential sectors, has increased from USD$ 788,332 million in 2011 to USD$1,303,469 million by 2019 (Source: US Department of Commerce).
The private mobile radio market has been segmented on the basis of technology, application, and geography. By type, the market has been segmented into digital and analogue. Based on application, the segmentation has been done on the basis of travel and hospitality, military and defence, law enforcement, construction, utilities, and others. By geography, the segmentation has been done into North America, South America, Europe, the Middle East and Africa, and the Asia Pacific.
Key Developments:
- In February 2022, TPG Telecom and Nokia teamed up to develop and offer innovative mobile private network innovations for the energy and mining sectors. As part of the partnership, the former signed an MoU with Nokia. Through this collaboration, the duo will develop flexible technological solutions while encouraging operational and digital technology transformation in the aforementioned sectors by integrating mobile radio 5G and 4G technologies, transmission, managed services, IoT, industrial services, spectrum, and core network.
Segmentation
By Technology
By Application
- Travel and Hospitality
- Military and Defense
- Law enforcement
- Construction
- Utilities
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Europe
- Germany
- France
- United Kingdom
- Spain
- Middle East and Africa
- Saudi Arabia
- Israel
- Asia Pacific
- China
- Japan
- South Korea
- India
- Indonesia
- Thailand
Companies Mentioned
- Motorola Solutions, Inc.
- Sepura Limited
- HARRIS CORPORATION
- JVCKENWOOD Corporation
- Thales Group
- Hytera Communications Corporation
- The Anritsu Corporation
- Airbus SE
- Midland Radio Corporation
For more information about this report visit https://www.researchandmarkets.com/r/8hls7g-mobile?w=5
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