The Land Mobile Radio Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Land Mobile Radio Global Market Report 2024, The land mobile radio market size has grown rapidly in recent years. It will grow from $18.17 billion in 2023 to $21.01 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to public safety communications, military and defense applications, transportation and logistics, construction and infrastructure, oil and gas industry.
The land mobile radio market size is expected to see rapid growth in the next few years. It will grow to $36.38 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%. The growth in the forecast period can be attributed to autonomous vehicles, mining and extraction, utilities and energy, healthcare integration, space exploration. Major trends in the forecast period include 5g integration, internet of things (iot) and sensor networks, integration of artificial intelligence (ai) and machine learning, energy-efficient radios, satellite communication integration.
In accordance with The Business Research Company’s comprehensive analysis presented in the Land Mobile Radio Global Market Report 2024, the burgeoning trajectory of the land mobile radio market is unequivocally evident. Experiencing an impressive surge, the market size is poised to escalate from $18.17 billion in 2023 to an estimated $21.01 billion in 2024, reflecting a noteworthy Compound Annual Growth Rate (CAGR) of 15.7%. This remarkable growth in the historical period can be ascribed to pivotal factors encompassing public safety communications, military and defense applications, transportation and logistics, as well as construction and infrastructure, alongside the influential presence of the oil and gas industry.
Anticipating a trajectory of sustained expansion, the land mobile radio market is projected to attain a substantial valuation of $36.38 billion by 2028, demonstrating a commendable CAGR of 14.7%. The surge in the forecasted period is underpinned by pivotal sectors such as autonomous vehicles, mining and extraction, utilities and energy, healthcare integration, and space exploration. Noteworthy trends dominating this future landscape encompass the seamless integration of 5G technology, the Internet of Things (IoT) and sensor networks, the fusion of artificial intelligence (AI) and machine learning, the adoption of energy-efficient radios, and the integration of satellite communication.
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The land mobile radio market covered in this report is segmented –
1) By Type: Hand Portable, In-Vehicle (Mobile)
2) By Technology: Analog, Digital
3) By Frequency: 25-174 (VHF), 200-512 (UHF), 700 MHZ And Above
4) By Application: Commercial, Public Safety, Mining, Oil and Gas, Energy, Defense, Transportation, Construction, Other Applications
Top 5 Major Players:
- Motorola Solutions Inc
- Harris Corporation
- Cartel Communication Systems Inc
- BK Technologies Inc
- TE Connectivity Ltd
A salient trend observed within the land mobile radio market is the pivotal integration of LTE technology into Land Mobile Radio (LMR) systems. Functioning as a transformative fourth-generation (4G) wireless standard for cellphones and other cellular devices, LTE augments network capacity and speed. Manufacturers in the land mobile radio domain are progressively adopting LTE technology due to its manifold advantages, including centralized management, expedited Push-to-Talk (PTT) set-up times, diminished recurring costs, enhanced interoperability and compliance, superior network performance in comparison to disparate networks, unrestricted inter-technology communications, and fortified network security.
A notable instance underscoring this trend transpired in April 2021, as the National Institute of Standards and Technology (NIST) in the USA unveiled an innovative low-cost computer system. This groundbreaking system seamlessly connects aging public safety radios to modern wireless communication networks. Functioning as a prototype, the NIST system facilitates the connection of analogue Land Mobile Radio (LMR) handsets and towers to an LTE server that adeptly manages network operations. The advent of this prototype holds significant promise, potentially simplifying the process for public safety agencies to link their radio systems to broadband networks. This linkage, in turn, empowers the transmission of voice, text, instant messages, video, and data, thereby heralding a new era in the realm of comprehensive and cutting-edge communication networks.
The land mobile radio market report table of contents includes:
1. Executive Summary
2. Land Mobile Radio Market Characteristics
3. Land Mobile Radio Market Trends And Strategies
4. Land Mobile Radio Market – Macro Economic Scenario
5. Global Land Mobile Radio Market Size and Growth
…..
31. Global Land Mobile Radio Market Competitive Benchmarking
32. Global Land Mobile Radio Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Land Mobile Radio Market
34. Land Mobile Radio Market Future Outlook and Potential Analysis
35. Appendix
List Of Tables:
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Land Mobile Radio Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Land Mobile Radio Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Land Mobile Radio Market, Segmentation By Frequency, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
….
Table 75: Motorola Solutions Inc. Financial Performance
Table 76: Harris Corporation Financial Performance
Table 77: Cartel Communication Systems Inc. Financial Performance
Table 78: BK Technologies Inc. Financial Performance
Table 79: TE Connectivity Ltd Financial Performance
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