-- Walkie Talkie Market Overview:
Walkie talkie is device used to communicate over a short distance by using radio waves. Walkie talkie have a huge market in military and defence and now is seeing a huge implications in commercial and security applications. Many of the central and local government authorities are investing in walkie talkies for their enforcement for an efficient and congestion free radio communication for their officers.
The Walkie Talkie Market is highly competitive due to the presence of several large vendors. The competition among the vendors will intensify due to the increase in product extensions and various above mentioned factors. The players in the walkie talkie market compete on the basis of the factors such as technology, features, design and compatibility. The vendors or the manufacturers are continuously coming up with new ideas and technologies to gain competitive advantage over their competitors.
The global Walkie Talkie Market is expected to reach approximately USD 16.99 billion by the end of 2023 with 9.47% CAGR during forecast period 2017-2023.
Major Key Players:
The leading players profiled by MRFR that are operating in the global walkie talkie market are Motorola Solutions, Hytera Communications, ICOM, JVCKENWOOD, Tait Communications, Shenzhen HQT Science and Technology, Abel, Cobra Electronics, Kirisun Communications, Uniden, Wintec and others.
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Market Drivers and Restraints:
Rise in demand for advanced electronic security devices in military and defense sector due to increased criminal activities, terrorist attacks and home invasions are majorly fueling the growth of the global walkie talkie market. Incorporation of technologically advanced features such as global positioning system, data tracking, encrypted communication, text messaging, emergency alarm and others are aiding the expansion of the global walkie talkie market. Increasing demand for walkie talkie for security and surveillance purposes at offices, schools and residential properties is one of the major factors that are propelling the growth of the global walkie talkie market.
increasing popularity of walkie talkie among kids for entertainment purposes, utilization of these portable communication devices for event management and availability of walkie talkie at affordable prices are also driving the global walkie talkie market towards higher verticals. However, one-sided communication approach, limited distance reach, low battery life and communication breakage are some of the primary factors that are likely to restrain the growth of the growth of the global walkie talkie market during the forecast period.
Market Segmentation:
The global walkie talkie market has been segmented on the basis of product type and application.
• Based on product type, the walkie talkie market has been segmented into analog walkie talkie and digital walkie talkie.
• Based on application, the walkie talkie market has been segmented into government and public safety, commercial, industry and commerce, home security and others. The commercial segment has been sub-segmented into retail stores and shopping malls.
Regional Analysis:
By region, the global walkie talkie market has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America region commands for the major share in the global walkie talkie market owing to the presence of leading manufacturers of walkie talkie, incorporation of technologically advanced features such as data tracking, global positioning system, emergency alarm and others and rise in demand for portable communication devices for enhancing the security services in this region. Increasing demand for encrypted communication devices in military and defense sector and surveillance projects in the emerging economies of India and China are propelling the growth of the walkie talkie market in the Asia Pacific region.
Increased manufacturing of these devices in the Asia Pacific region due to availability of cheap raw materials and skilled workforce and rise in popularity of walkie talkie for entertainment purposes are also fueling the growth of the walkie talkie market in this region. High demand for advanced electronic security devices in defense sector, schools, offices and others are fueling the growth of the walkie talkie market in the Europe region.
Industry Updates:
In October 2018, Xiaomi has launched a new and advanced MIJIA Walkie Talkie 1S which is an upgraded version of their previously launched walkie talkie device.
In October 2018, No.1, a smartwatch manufacturer, has announced the launch of a 3-in-1 accessory for iPhones which can be used as a case, power bank and Walkie Talkie.
Table of Contents
1 Market Introduction
1.1 Introduction
1.2 Scope of Study
1.2.1 Research objective
1.2.2 Assumptions
1.2.3 Limitations
1.3 Market Structure
2 Research Methodology
2.1 Research Network Technology Software
2.2 Primary Research
2.3 Secondary Research
2.4 Forecast Model
2.4.1 Market Data Collection, Analysis & Forecast
2.4.2 Market Size Estimation
Continued….
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List of Tables
Table 1 walkie Talkie Market, By Product Type
Table 2 walkie Talkie Market, By Application
Table 3 Walkie Talkie Market, By Geography
Continued….
List of Figures
Figure 1 research Methodology
Figure 2 walkie Talkie Market, By Product Type (%)
Figure 3 walkie Talkie Market, By Application (%)
Continued….
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