Land Mobile Radio System Market - Growth Factors, Regional and Competitive Landscape Forecast
Global Land Mobile Radio System Market would reach USD 11,099.99 MN by 2023, registering over 10.69% CAGR throughout the forecast period (2018-2023).
Land mobile radio (LMR) systems are designed to use in handling critical missions where first responders use these systems. Availability of text and voice services had led many public safety agencies away from LMR systems. However, the adoption of long-term evolution (LTE) technology by LMR manufacturers has revived the land mobile radio system market.
During the past few years, the need for advanced communication devices is growing pervasively, and, so is increasing the size of the land mobile radio system market. The demand for LMR devices in private security services is growing as well. Moreover, ballooning defense budget expenditure for safety systems in countries across the globe are escalating the market on the global platform.
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Land Mobile Radio System Market – Segments:
For a better understanding of the report, the market is segmented into four key dynamics:
By Type : Portable and Vehicle-mounted
By Application : Public Safety and Commercial.
By Technology : Digital and Analog.
By Regions : Europe, North America, Asia Pacific, and Rest-of-the-World.
Land Mobile Radio System Market – Regional Analysis :
North America is estimated to remain the largest region in the global land mobile radio system market. Large technological advancements and their uptake drive the growth of the market in the region. Moreover, the presence of various telecommunication equipment providers and the establishment of multiple standards drive the regional market. Large defense sector in this region creates opportunities for the land mobile radio market to grow significantly during the forecast period.
The land mobile radio market in the European region is a lucrative market, globally. Most of the countries in the region have robust military forces and large defense budgets for public security. The growing demand for safety systems fosters the growth of the regional market.
The resurging economy is surely playing a vital role in the growth of the land mobile radio market in the region. European countries such as Germany and the UK backed by the enormous investments in the land mobile radio market and related technologies account for major growth contributors to the regional market.
The Asia Pacific region land mobile radio systems market is rapidly emerging as a promising market, globally. Huge technological advances and increasing military budgets across the APAC countries led by the improving economic conditions are resulting in increasing the use of safety technology for public security and safety.
Further advancements expected to happen in the safety technology would result in the growth of the market in the region. Furthermore, the growth in the land mobile radio market is driven by factors such as the increasing population and urbanization that are increasing the demand for the safety of people.
Players leading the market for the land mobile radio system include Hytera Communications Corporation Ltd. (China), Harris Corporation (US), ICOM Inc. (Japan), Leonardo S.p.A. (Italy), JVCKenwood Corporation (Japan), Motorola Solutions, Inc. (US), Simoco Wireless Solutions Limited (UK), RELM Wireless Corporation (US), Thales Group (France), and Tait Ltd. (New Zealand), among others.
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