Push-to-Talk Over Cellular Market
The market in Asia-Pacific is expected to grow at a significant rate due to the high penetration of smartphones in the region.
PORTLAND, PORTLAND, OR, UNITED STATE, July 24, 2024 /
EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, “
Push-to-Talk Over Cellular Market, By Component and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the push-to-talk over cellular market size was valued at $3.43 billion in 2019, and is projected to reach $6.95 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027.
Push-to-talk over cellular solutions facilitates group communications across a dispersed workforce in an organization or industry. Industries in manufacturing and production continuously require consistent communication across the production line. In addition, industries in safety and emergency services are highly dependent on push-to-talk systems. Hence, the demand for push-to-talk over cellular is expected to rise at a significant rate owing to its ability to provide secure and reliable communication services between teams in an industry or organization.
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Thus, even after emergence of COVID-19, the push-to-talk over cellular market is expected to witness trivial effect during this pandemic, as the demand for push-to-talk over cellular is still higher for public safety & security applications. The push-to-talk over cellular devices are increasingly being used by the government and disaster management agencies in hotspots of COVID-19 for communicating in that area.
Even after emergence of COVID-19, the push-to-talk over cellular market is expected to witness trivial effect during this pandemic, as the demand for push-to-talk over cellular is still higher for public safety & security application. The push-to-talk over cellular devices are increasingly being used by the government and disaster management agencies in hotspots of COVID-19 for communicating in that area. In addition, innovations of mobile apps enable push-to-talk for public safety during COVID-19 pandemic, are further boosting the market growth. For instance, L3Harris’ BeOn app is being used by healthcare workers in California to communicate efficiently while visiting patients and trace contacts.
Walkie-talkie devices were widely used as a mode of communication among teams, but its costly equipment and network distortion hindrance increased the growth of the push-to-talk over cellular devices due to cost efficient and reliability benefits offered. These devices are built over push-to-talk technology that includes half-duplex push-to-talk communications benefit with the resistance to interference offered by mobile phones. Thus, the growth of the equipment segment propelled the growth of the market in 2019, and is further expected to boost the market growth in coming years.
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Rise in adoption of smartphone applications is expected to support the push-to-talk over cellular market growth. This is attributed to applications as well as integration benefits with various communications networks that are compatible with various devices. Hence, surge in demand for push-to-talk applications among smart devices is among the major factors expected to boost the growth of the market during the forecast period.
North America dominated the overall push-to-talk over cellular market trends in 2019 and is expected to remain dominant during the forecast period. This is attributed to availability of enhanced network infrastructure in the region with high proliferation of LTE networks in the region. In addition, high number of smart devices in the regions operate on deployed LTE technology also supports the growth of the market in the region.
Furthermore, Asia-Pacific is expected to exhibit highest growth rate during the forecast period. Factors supporting the growth of the Asia-Pacific push-to-talk over cellular market include significant presence of telecom operators that are expanding their 5G infrastructure, proliferating LTE deployments, and high penetration of mobile devices in the region.
Some of the key push-to-talk over cellular market players profiled in the report include AT&T, Inc., Qualcomm Technologies, Inc., Verizon Communications, Motorola Solutions, Inc., Kyocera Corporation, Mobile Tornado, Sprint Corporation, Bell Canada, Simoco Wireless Solutions, and Sonim Technologies Inc. Players operating in the market have witnessed high revenue growth opportunities for analytical solutions and services especially due to digitalization. This study includes the push-to-talk over cellular market analysis, trends, and future estimations to determine the imminent investment pockets.
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Key Findings of The Study:
By component, the equipment segment dominated the push-to-talk over cellular market share. The equipment segment garnered high revenue in 2019 and is expected to remain dominant in the coming years due to high penetration of smart devices among industries across the globe. However, the services segment is expected to exhibit significant growth during the forecast period in the push-to-talk over cellular industry.
By application, the public safety & security segment accounted for the highest revenue in 2019 due to high adoption of push-to-talk over cellular by government entities such as disaster management.
Region wise, Asia-Pacific is expected to witness a significant growth in terms of CAGR in the upcoming years as push-to-talk over cellular market opportunity. Whereas, North America dominated the market in 2019 due to availability of advance network infrastructure and is expected to remain dominant in terms of revenue growth during the forecast period.
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