The global walkie talkie market is growing continually. The market growth attributes to the rising adoption of walkie talkies in the aerospace & defense, and law enforcement sectors. Moreover, extensive uses of walkie talkies by police and fire brigade, large manufacturing industries, big resorts & hotels, airports, railway departments, event management firms, and trekking groups substantiate the market size.
The Walkie Talkie Market is projected to garner significant traction in the years to come. In this regard, Market Research Future (MRFR) asserts that the global walkie talkie market is expected to reach an exponential valuation by 2027, growing at an impressive CAGR during the forecast period (2020–2027). The onset of the COVID 19 pandemic has increased walkie talkie uses hugely.
Millions of frontline workers in healthcare and law enforcement & security sectors and personnel from hospitality and manufacturing industries use walkie talkies to communicate with their team members effectively. Moreover, advances in transmission and related technologies, alongside substantial R&D investments by key instrument providers and technology developers, foster the walkie talkie market growth.
On the flip side, high costs associated with the purchase and maintenance of these devices are a major factor impeding market growth. Nevertheless, the growing demand for walkie talkie in the media and entertainment industry would support market growth throughout the review period. Also, rising uses of walkie talkies for enterprise purposes would boost the growth of the market.
Global Walkie Talkie Market - Competitive Analysis
Highly competitive, the walkie talkie market appears fragmented due to the presence of several well-established players. To gain a larger competitive share, mergers & acquisitions, collaboration, brand reinforcement, and innovation remain key industry players' key trends. Players make a substantial investment in the research and development of innovative technologies and upgrade their product portfolio.
Players leading the global walkie talkie market include Garmin Ltd, Cobra Electronics, Motorola Solutions, ICOM Inc, JVCKENWOOD Corporation, TAIT Communications, Kirisun Communications, Shenzhen HQT Science and Technology, Uniden Holdings Corporation, Wintec Co., Ltd, YAESU, Hytera Communications Corporation Limited, and Midland Radio Mossy Oak, among others.
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Walkie Talkie Market - Segments
The report is segmented into type, ownership, end-user, and region. The type segment is sub-segmented into analog and digital. The ownership segment is sub-segmented into licensed and license-free. The end-user segment is sub-segmented into consumer/personal use, enterprises & commercial, aerospace & defense, law enforcement & security, and others. The region segment is sub-segmented into Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Walkie Talkie Market - Regional Analysis
North America dominates the global walkie talkie market, witnessing the rising demand from government and law enforcement sectors. Moreover, the strong presence of notable players such as Motorola Solutions and Midland Radio in the region accelerates the walkie talkie market size.
The increasing awareness of public security and road traffic safety fosters the walkie talkie industry in the region. Additional factors bolstering the market growth are increased R&D investments and funding from the governments and law enforcement sectors boost the market growth.
Europe stands second in the global walkie talkie market, with favorable government policies for manufacturing these devices. Besides, the increased adoption of walkie talkies and the resurging economy in the region has been influential for the current market growth. The rising demand for walkie talkies from the commercial sector and public security sectors escalates the growth rate of the market.
The Asia Pacific has emerged as a profitable market for walkie talkies. Factors such as the raw material advantage and cost-competitive workforce availability positively impact the market growth. Furthermore, walkie talkie market trends, such as advancements in transmitting technology and the extensive uptake of walkie talkie in public security forces, influence the regional market growth.
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