Walkie-talkie market to grow by USD 2.65 billion from 2022 to 2027, Shift to digital walkie-talkies to drive the growth- Technavio

NEW YORK, Sept. 19, 2023 /PRNewswire/ -- The walkie-talkie market size is expected to grow by USD 2.65 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of almost 6.92% during the forecast period. The market is segmented by product (digital and analog), application (industry and commerce, government and utility, and defense), and geography (APAC, North America, Europe, South America, and Middle East and Africa). The shift to digital walkie-talkies is one of the key factors driving the market growth. Digital radios have some advantages over analog radios. As a result, digital radios are replacing walkie-talkies because they are more cost-effective and efficient. Digital walkie talkies come with features like GPS, data tracking, multiple simultaneous conversations, text messaging, and emergency alarms. Moreover, digital radios are mainly used at wider ranges because they are more efficient. Furthermore, some sellers sell radios with both plain and computerized capabilities to increase sales of their products. Therefore, these benefits are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample 

Key Highlights:

• The report recognizes the following as some of the key players in the walkie talkie market: Cedar Electronics Corp., Entel UK Ltd., Fujian Baofeng Electronics Co. Ltd., Fujian BelFone Communications Technology Co. Ltd., Garmin Ltd., Hytera Communications Corp. Ltd., Icom Inc., JVCKENWOOD Corp., Kirisun Communication Co. Ltd., Midland Radio Corp., Motorola Solutions Inc., Quansheng Electronics Co. Ltd., Quanzhou Senhaixun Electronic Technology Co. Ltd., Shenzhen HQT Science and Technology Co. Ltd., SWIFTCOM TECHNOLOGY PTE LTD., Tait International Ltd., TALKPRO, Uniden America Corp., VITAI Electronics Co. Ltd., and Wintec Co. Ltd.
• Walkie Talkie Market is fragmented in nature.
• Market to observe 5.18% YOY growth in 2023.

Market Dynamics:

Leading Trend 

• The convergence of LTE networks with LMR technology is one of the key walkie-talkie market trends boosting market growth. 

Significant Challenge 

• Data congestion is a challenge that affects market growth. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Keg Segments:

The digital segment will account for a major share of the market's growth during the forecast period. Digital walkie-talkies are capable of detecting ambient noise and avoiding its communication. Digital walkie-talkies are suitable for situations with a lot of noise and need to be used in large areas such as factories, plants, and construction sites. Digital walkie-talkies are gradually replacing traditional analog walkie-talkies. Additionally, due to advanced algorithms, ambient noise is greatly reduced. New software applications for digital radios are offered from time to time. Therefore, such benefits of digital radios will drive market growth during the forecast period.

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1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Product 

7 Market Segmentation by Application

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Company Landscape

12 Company Analysis

13 Appendix

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: [email protected]
Website: www.technavio.com

SOURCE Technavio

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