Terrestrial trunked radio (TTR) provides reliable communication services for commercial and government organisations through rapid call setup, communication encryption, wide-area coverage and enhanced voice and data capabilities. TTR offers improved efficiency and productivity to sectors like transportation, logistics, utilities, manufacturing and public safety.
The Global Terrestrial Trunked Radio Market is estimated to be valued at US$ 5.25 billion in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growth of the Terrestrial Trunked Radio Market is driven by the increasing adoption of TTR systems across industries and government agencies owing to its benefits of enabling seamless communication and coordination across large geographical areas. Its ability to offer features like push-to-talk, location tracking, workforce dispatching and dispatch data applications has accelerated its adoption for applications requiring reliable and efficient communications. Moreover, developments in digital TTR technology have enhanced the network capacity and operability of TTR systems, further expanding their application potential.
Segment Analysis
The Global terrestrial trunked radio market is dominated by the private tertiary segment as it accounts for more than 50% of the overall market share. The private tertiary segment refers to medium-sized commercial organizations that use TETRA to complement their existing communication solutions. The segment is growing at a faster rate compared to other segments owing to increased spending on communication infrastructure by private companies across industries.
Key Takeaways
Global Terrestrial Trunked Radio Market Demand is expected to witness high growth over the forecast period.
The market in the Asia Pacific region is projected to grow at the fastest pace during the period of 2023-2030, owing to rising spending on public safety and increasing demand for reliable communication networks in developing countries such as India and China.
Key players operating in the terrestrial trunked radio market are Motorola Solutions, JVCKENWOOD, Hytera Communications, Sepura, Simoco Wireless Solutions, Tait Communications, Codan Radio Communications, Cisco Systems, Harris Corporation, PowerTrunk. The market leaders are focusing on new product launches and partnerships to gain a competitive edge in the industry. For instance, in 2022, Motorola Solutions launched the APX NXG Next Generation radio that delivers advanced mission-critical communication capabilities.
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