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(Wireless-NewsWire.Com, October 04, 2016 ) The land mobile radio market is estimated to grow from USD 7.52 Billion in 2014 to USD 15.65 Billion by 2020, at a CAGR of 13.09% from 2015 to 2020. With the growing demand for inexpensive and reliable communication systems and transition from analog to digital LMRs, the market is expected to grow in the next 5 years. The report aims at estimating the size and future growth potential of the land mobile radios market across different segments such as type, technology, industry, standard, and geography. The base year considered for the study is 2014 and the market size is forecasted from 2015 to 2020.
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Land mobile radios are used in the areas of public safety and commercial applications as per their business requirements. The growing market for these radio products is expected to present several opportunities for stakeholders over the upcoming years.
Transition from analog to digital LMR products will drive the market for land mobile radio
One of the drivers for the growth of the market is the technological developments took place during the evolution phase of land mobile radios. Communication through digital radios was invented during the 1990s by a private consulting firm appointed by the U.S. government. Due to the additional features such as log display, less power consumption, and high standards, the digital LMRs offer robust communication experience and high spectrum efficiency, which can’t be offered by an analog land mobile radio. Another advantage of digital LMRs is the voice processing technology using digital signal processing (DSP) chips. The growing importance of digital LMRs and their advantages are considered to be major factors for the growth of the global LMR market.
Portable land mobile radios play a key role in the land mobile radios market
Portable LMRs are expected to hold the largest market share and dominate the land mobile radios market during the forecast period because these devices are inexpensive and consume less power. Portable LMRs play a key role in changing the land mobile radio landscape and the market for the same is likely to grow at the highest rate during the forecast period.
The public safety industry contributes the largest market share
The public safety industry is expected to contribute the largest market share in land mobile radios market. The increase in the protection against cyber threats and improvements in communication infrastructure to improve real-time decision making capabilities on the field propel the growth of the law enforcement industry in the public safety market. The law enforcement industry is expected to grow at the highest CAGR from 2015 to 2020.
North America expected to contribute the largest market share; the market in APAC likely to grow at the highest rate
North America is expected to account for the largest market share and dominate the land mobile radio market from 2015 to 2020 due to the presence of a large number of LMR product providers. APAC offers potential growth opportunities due to the liberalization in the telecommunication sector in APAC.
The major vendors in the land mobile radio market include Sepura PLC, Hytera, RELM Wireless, Motorola Solutions, and others.
The scope of the report covers detailed information regarding the major factors influencing the growth of the land mobile radios market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into their business overview, products and services, key strategies, new product launches, mergers & acquisitions, partnerships, agreements, collaborations, and recent developments related to the market.
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Mr. Rohan
1-888-600-6441
sales@marketsandmarkets.com
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