Push-to-Talk Market Size, Share & Industry Analysis to Reach USD 46.75 Billion by 2032, Growing at 12.0% CAGR
Push-to-Talk Market
Fortune Business Insights™ presents this information in its report titled “Push-to-Talk Market, 2020-2032.”
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List of Key Players Profiled in the Report:
Motorola Solutions Inc. (US)
Zebra Technologies Corporation (US)
AT&T Intellectual Property (US)
Verizon Wireless (US)
Qualcomm Technologies, Inc. (US)
Harris Corporation (US)
ICOM Inc. (Japan)
Kyocera
Siyata Mobile (Canada)
ECOM Instruments GmbH (US)
RugGear (US)
Telefonaktiebolaget LM Ericsson (Sweden)
Sonim Technologies (US)
Simoco (India)
Airbus DS Communications (US)
Market Drivers and Restraints
Rising Adoption of Wireless Devices, Network Devices, and Software among Organizations to Aid Market Growth
One of the significant market drivers is the rising demand for wireless push-to-talk devices across various industries. The increasing adoption of wireless devices helps to boost overall safety and productivity by providing end-to-end encryption. Furthermore, the growing demand for PTT software among smartphone users to connect groups has significantly boosted market growth. Technological advancements such as the deployment of LTE and 5G infrastructure are also likely to increase the demand for PTT.
However, the presence of latency and minor communication gaps while engaging in two-way communication is restraining the demand for PTT. Users engaging in conversations using LMR technology may experience time delays, especially in areas with weak network infrastructure. These factors act as major restraints for the growth of the market.
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Market Segmentation
Devices Segment to Hold High Market Share Attributable to Rising Adoption of Rugged PTT Devices
By component, the market is segmented into devices, software, and services. The devices segment is expected to hold the largest market share due to the presence of key market players and the rising adoption of rugged push-to-talk devices with innovative technologies.
Push-to-Talk over Cellular (PoC) Segment to Lead Backed by Wide Network Range and Quick Call Setup
As per network type, the market is classified into Push-to-talk over Cellular (PoC) and Land Mobile Radio (LMR). The PoC segment is expected to grow at the highest CAGR during the forecast period, as it provides reliable and enhanced communication services with high-quality audio support, a wide network range, and quick call setup.
Public Safety & Security Segment to Dominate Attributable to Growing Adoption of Specialized Ultra-Rugged Devices
Based on sector, the market is classified into public safety & security, government & defense, transportation & logistics, energy & utility, travel & hospitality, and others. The public safety & security segment is expected to dominate, driven by the growing adoption of devices such as specialized ultra-rugged devices, feature phones, and smartphones in this domain.
Regional Insights
Presence of Major Telecom Service Providers to Foster Market Progress in North America
North America is expected to lead the market share, which is attributable to the rising penetration of core technologies and the presence of telecom service providers and PoC vendors such as Motorola Solutions and AT&T. The market in North America stood at USD 4.49 Billion in 2019 and is likely to gain a huge portion of the global market share in the coming years.
In Asia Pacific, advancement in IT infrastructure and rising collaboration between distributors and key players are likely to fuel sales in the region. Key players are focused on launching new products to gain a competitive edge.
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Competitive Landscape
Major Players Emphasize Expanding Product Portfolio to Strengthen Market Position
The key players operating in this industry focus on expanding their product portfolios to strengthen their market position. For example, AT&T Intellectual Property's Enhanced EPTT service provides highly secure messaging, virtually instant voice communications, and location features over 3G, 4G, 4G LTE, & Wi-Fi. Further, several players devise mergers, acquisitions, and partnerships to reinforce their market position. For instance, in March 2019, Motorola Solutions acquired Avtec, Inc. to expand its public safety services and software portfolio.
Report Coverage
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Key Industry Developments:
March 2020 - Telefonaktiebolaget LM Ericsson acquired Genaker, a Spain-based MCPTT solutions provider. This acquisition has strengthened Ericsson’s MCPTT offering for mission-critical users.
October 2019 - T-Mobile launched its broadband PTT service with ESChat technology. This enabled T-Mobile's salesforce to offer the ESChat service in the U.S. marketplace to government and business customers without interoperability limitations.
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Ashwin Arora
Fortune Business Insights™ Pvt. Ltd.
+1 833-909-2966
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