- The global professional mobile radio market is highly driven by increasing urbanization and digitalization globally.
- The military & defense segments was the dominating segment in 2018.
- Asia-Pacific is expected to dominate the market.
According to a new market research report published by Credence Research “Global Professional Mobile Radio Market (Technology (Digital, Analog); Application (Retail, Transportation, Utility, Mining, Military & Defense, Fire Department, Healthcare, and Others); End-User (Retail, BFSI, Government Sector, Healthcare, Media and Entertainment, Others)) – Growth, Future Prospects and Competitive Analysis,2019 – 2027”,the overall professional mobile radio market worldwide was valued at $16.25 billion in 2018 and is set to grow with a CAGR of 12.3% during the forecast period.
The global professional mobile radio market is highly driven by increasing urbanization and digitalization globally. The increasing demand for mission-critical communication from military and defense is one of the major factors driving the market. There are various types of PMR systems available in the market which are also driving the market based on their applications and usage. These systems are used for transmission of various information in the form of radio, video, messages, text and others in real-time. Moreover, the increasing rising terrorist attacks and other natural disasters are some of the factors which is driving the growth of the market globally.
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Based on applications, the professional mobile radio market has been segmented as retail, transportation, utility, mining, military & defense, fire department, healthcare, and others. The military & defense segments was the dominating segment in 2018 with a market share of more than 25.0% and is expected to dominate the market during the forecast period. The rising terrorist activities, natural disasters and advancement in the communication technology for military and mission-critical communication are some of the major factors driving the growth of the market globally.
Asia-Pacific is expected to dominate the market during 2027 and is expected to grow with a CAGR of more than 12.0% during the forecast period. This is expected to be the fastest-growing region due to the presence of various natural disaster-prone areas. The Asia-Pacific region based on countries has been segmented as China, Japan, India, and Rest of Asia-Pacific. China accounts for the largest market share in the region due to the presence of various local vendors in the country which offers different PMR systems. Moreover, Japan is a natural disaster-prone area which is increasing the demand for PMR systems for communication during critical situation.
Some of the prominent players operating in the professional mobile radio market include Motorola Solutions, Inc., Sepura PLC, Harris Corporation, Thales SA, Jvckenwood Corporation, Raytheon Company, Hytera Communications Corporation Limited, RELM Wireless Corporation, Tait Radio Communications, Codan Radio Communication, and Simoco Wireless Solutions.