Market Size –
The walkie talkie market size has grown strongly in recent years. It will grow from $6.45 billion in 2023 to $7.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to industrial and commercial applications, public safety and emergency response, military and defense usage, outdoor and recreational activities, supply chain and logistics..
The walkie talkie market size is expected to see strong growth in the next few years. It will grow to $10.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The growth in the forecast period can be attributed to increasing demand in emerging markets, health and safety regulations, rise in e-commerce and logistics, global security concerns, demand for rugged devices.. Major trends in the forecast period include global connectivity, customization and modular designs, subscription-based models, remote work considerations, focus on health and safety..
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Scope Of Walkie Talkie Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –
The rising budget of security equipment in the residential societies is driving the demand for walkie talkie market. The growing criminal activities across the residential and commercial areas have led to an increase in the budget for security equipment in the residential societies. For instance, according to the article published by Forbes Advisor, American business magazine, in February 2022, the average home security equipment costs in the USA vary from $ 5 (with the purchase of a contract) to more than $ 600 per month. Furthermore, according to the article published by safewise, unbiased home security reviews company, in January 2021, nearly a third of Americans spent more than $ 600 on home technology this year, which is the same amount as the stimulus payments they received. Hereby, the rising security concern and investment in security equipment will raise the demand for security equipment such as walkie-talkies for internal communication. Hence, rising budget of security equipment drives the demand for walkie talkie market growth.
Market Trends –
Product innovations have emerged as the key trend gaining popularity in the 5G chipset market. The major players in the market are developing innovative products for market growth. For instance, in June 2021, Samsung Electronics, a South Korea-based electronics company, developed 3GPP Rel.16 compliant chipsets, a range of next-generation 5G chipsets that deliver cutting-edge 5G technologies. The new chipsets consist of a second-generation 5G modem System-on-Chip (SoC), a third-generation mmWave Radio Frequency Integrated Circuit (RFIC) chip, and a Digital Front End (DFE)-RFIC integrated chip. These are designed to increase power efficiency, boost performance, and reduce the size of 5G solutions.
The walkie talkie market covered in this report is segmented –
1) By Type: Wearable Walkie Talkie Device, Handheld Walkie Talkie Device
2) By Product Type: Analog, Digital
3) By Distribution Channel: Offline Channel, Online Channel
4) By Application: Government And Police, Military And Defense, Retail And Manufacturing, Industrial And Commercial, Security Agencies, Other Applications
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Regional Insights –
North America was the largest region in the walkie-talkie market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the walkie talkie market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Key Companies –
Major companies operating in the walkie talkie market report are Entel Limited, HYTERA COMMUNICATIONS CORPORATION LIMITED, Icom Incorporated, JVCKENWOOD Corporation, Kirisun Communication Co. Ltd., Motorola Solutions Inc., Shenzhen HQT Science and Technology Co. Ltd., Uniden Holdings Corporation, Tait International Limited, HONGKONG RETEVIS TRADE CO. LTD, BK Technologies Inc., L3Harris Technologies Inc., Thales Group, Sepura plc, Yaesu USA, Quansheng Electronics Co. Ltd., Abell Automotive, Midland Radio Corporation, Cobra Electronics Corporation, Kenwood USA Corporation, Baofeng Electronics Co. Ltd., WOUXUN ELECTRONICS CO. LTD., Ritron Inc., Olympia Business Systems Vertriebs GmbH, Vertex Standard Co. Ltd., Maxon America Inc., Alinco Inc., Edale Electronics, Simoco Group, Zetron Inc.
Table of Contents
1. Executive Summary
2. Walkie Talkie Market Report Structure
3. Walkie Talkie Market Trends And Strategies
4. Walkie Talkie Market – Macro Economic Scenario
5. Walkie Talkie Market Size And Growth
…..
27. Walkie Talkie Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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