NEW YORK , Sept. 19, 2023 /PRNewswire/ -- The walkie-talkie market size is expected to grow by USD 2 .65 billion between 2022 and 2027. However, the growth momentum of the market will be progressing at a CAGR of almost 6.92% during the forecast period. The market is segmented by product (digital and analog), application (industry and commerce, government and utility, and defense), and geography (APAC, North America , Europe , South America , and Middle East and Africa ). The shift to digital walkie-talkies is one of the key factors driving the market growth. Digital radios have some advantages over analog radios. As a result, digital radios are replacing walkie-talkies because they are more cost-effective and efficient. Digital walkie talkies come with features like GPS, data tracking, multiple simultaneous conversations, text messaging, and emergency alarms. Moreover, digital radios are mainly used at wider ranges because they are more efficient. Furthermore, some sellers sell radios with both plain and computerized capabilities to increase sales of their products. Therefore, these benefits are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
The report recognizes the following as some of the key players in the walkie talkie market: Cedar Electronics Corp., Entel UK Ltd., Fujian Baofeng Electronics Co. Ltd., Fujian BelFone Communications Technology Co. Ltd., Garmin Ltd., Hytera Communications Corp. Ltd., Icom Inc., JVCKENWOOD Corp., Kirisun Communication Co. Ltd., Midland Radio Corp., Motorola Solutions Inc., Quansheng Electronics Co. Ltd., Quanzhou Senhaixun Electronic Technology Co. Ltd., Shenzhen HQT Science and Technology Co. Ltd., SWIFTCOM TECHNOLOGY PTE LTD., Tait International Ltd., TALKPRO, Uniden America Corp., VITAI Electronics Co. Ltd., and Wintec Co. Ltd. Gmrs Two Way Radio
Walkie Talkie Market is fragmented in nature.
Market to observe 5.18% YOY growth in 2023.
The convergence of LTE networks with LMR technology is one of the key walkie-talkie market trends boosting market growth.
Data congestion is a challenge that affects market growth. The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report
The digital segment will account for a major share of the market's growth during the forecast period. Digital walkie-talkies are capable of detecting ambient noise and avoiding its communication. Digital walkie-talkies are suitable for situations with a lot of noise and need to be used in large areas such as factories, plants, and construction sites. Digital walkie-talkies are gradually replacing traditional analog walkie-talkies. Additionally, due to advanced algorithms, ambient noise is greatly reduced. New software applications for digital radios are offered from time to time. Therefore, such benefits of digital radios will drive market growth during the forecast period.
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The HVAC rental equipment market size is estimated to grow at a CAGR of 5.53% between 2022 and 2027. The market size is forecast to increase by USD 1,799.86 million. Furthermore, this report extensively covers market segmentation by end-user (industrial, commercial, and residential), type (air conditioning, heating, and ventilation), and geography (APAC, North America , Europe , Middle East and Africa , and South America ). Growing adoption of cleanrooms across industries is the key factor driving the growth of the market during the forecast period.
The temperature sensor market size is estimated to grow at a CAGR of 5.41% between 2022 and 2027. The market size is forecast to increase by USD 1,963.5 million. Furthermore, this report extensively covers market segmentation by type (wired and wireless), end-user (oil and gas, chemical and petrochemical, automotive, manufacturing, and others), and geography (North America , APAC, Europe , Middle East and Africa , and South America ). Increasing demand for temperature sensors in medical applications is the key factor driving the growth of the market during the forecast period.
Accelerate at a CAGR of 6.92%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Japan, Germany, and UK
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks
Cedar Electronics Corp., Entel UK Ltd., Fujian Baofeng Electronics Co. Ltd., Fujian BelFone Communications Technology Co. Ltd., Garmin Ltd., Hytera Communications Corp. Ltd., Icom Inc., JVCKENWOOD Corp., Kirisun Communication Co. Ltd., Midland Radio Corp., Motorola Solutions Inc., Quansheng Electronics Co. Ltd., Quanzhou Senhaixun Electronic Technology Co. Ltd., Shenzhen HQT Science and Technology Co. Ltd., SWIFTCOM TECHNOLOGY PTE LTD., Tait International Ltd., TALKPRO, Uniden America Corp., VITAI Electronics Co. Ltd., and Wintec Co. Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.
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6 Market Segmentation by Product
7 Market Segmentation by Application
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