The digital mobile radio global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Digital Mobile Radio Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The digital mobile radio market size has grown rapidly in recent years. It will grow from $6.27 billion in 2023 to $7.04 billion in 2024 at a compound annual growth rate (CAGR) of 12.2%. The growth in the historic period can be attributed to increasing investments of manufacturers in incorporating advanced mechanism in devices, increased capacities in a compact mechanism, increasing demand for digital mobile radio devices, increasing utilization of digital mobile radio technology, increased adoption of digital mobile radio.
The digital mobile radio market size is expected to see rapid growth in the next few years. It will grow to $11.31 billion in 2028 at a compound annual growth rate (CAGR) of 12.6%. The growth in the forecast period can be attributed to rising incidences of natural disaster, increase in significance of efficient critical communication operations for public safety, increasing demand of digital mobile radio systems among emerging economies, rising importance of efficient critical communication in operations, rise in instances of crime, terrorism, and natural disasters. Major trends in the forecast period include introduction of new technologies, advanced communication equipment, growing adoption of DMR radios, demand for enhanced efficiency for radio communication system, integration of DMR systems with IoT devices.
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Scope Of Digital Mobile Radio 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.
Digital Mobile Radio Market Overview
Market Drivers –
The growing focus on workplace safety and security is expected to propel the growth of the digital mobile radio market going forward. The focus on workplace safety and security is increasing due to growing awareness of the importance of providing employees a safe and secure work environment, driven by regulatory requirements and a desire to protect workers from harm. Digital mobile radio (DMR) helps in workplace safety and security by providing instant communication, location tracking, emergency features, group communication, and integration with other safety systems, enhancing overall safety and security for employees. For instance, in 2022, according to the Bureau of Labor Statistics, a US-based government agency, there were 5,486 fatal work injuries recorded in the United States at the workplace, a 5.7-% increase from the 5,190 recorded in 2021. Therefore, the growing focus on workplace safety and security is driving the growth of the digital mobile radio market.
Market Trends –
Major companies operating in custom software development are focused on developing new innovative solutions, such as virtual reality applications, to boost their revenue in the market. These virtual reality apps are designed to empower creators to build animated content in real time using advanced virtual production tools. For instance, in March 2023, Flipside XR, a Canada-based virtual reality company, launched a new app designed for creators called Flipside Studio Support from Meta. This VR app empowers users to craft animated content in real-time, leveraging sophisticated virtual production tools. Once completed, users can effortlessly upload and distribute their projects on popular social media platforms such as YouTube, TikTok, Twitch, and more. With an array of tools and features, creators can produce captivating, top-notch videos using the immersive capabilities of VR technology.
The digital mobile radio market covered in this report is segmented –
1) By Product Type: Hand Portable, In-Vehicle
2) By Tier: Tier 1 (Unlicensed), Tier 2 (Conventional), Tier 3 (Trunked)
3) By Frequency: 25 to 174 MHz, 200 to 512 MHz, More Than 700 MHz
4) By Industry Vertical: Commercial, Defense And Public Safety, Mining, Oil And Gas, Transportation, Other Industry Verticals
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Regional Insights –
North America was the largest region in the digital mobile radio market in 2023. The regions covered in the digital mobile radio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the digital mobile radio market are Raytheon Company, Thales Group, L3Harris Technologies Inc., Motorola Solutions Inc., Leonardo S.p.A, JVCKENWOOD Corporation, Sercomm Corporation, Talent Technology Services Limited, Flatworld Solutions Pvt. Ltd., Hytera Communications Corporation Ltd., Marcus Corporation (MCS), Sepura Limited, Telo Systems Limited, BK Technologies, Jotron AS, ICOM Inc., Simoco Wireless Solutions Limited, Midland Radio Corporation, Radiodata GmbH, Comita Group, Sigtech Wireless Technologies, Rolta Incorporated, Mobicomm Limited, Alinco Inc., Tait Ltd., Mercury Systems Inc., Beijing Jiaxun Feihong Electrical Co., Ltd., Catalyst Communications Technologies, Ritron Inc., Kenwood Communications
Table of Contents
1. Executive Summary
2. Digital Mobile Radio Market Report Structure
3. Digital Mobile Radio Market Trends And Strategies
4. Digital Mobile Radio Market – Macro Economic Scenario
5. Digital Mobile Radio Market Size And Growth
…..
27. Digital Mobile Radio Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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