Terrestrial Trunked Radio (TTR) are digital mobile radio communication systems that operate in a line-of-sight mode and are used to provide instant communication between different groups over short to medium range distances. TTR systems deliver services such as instant voice and data transmission which are vital for emergency services, government agencies, public transport systems, utilities and many private organizations across industrial, commercial and public sectors. With the growing complexity of security and operational challenges, there is rising demand for reliable and secure communication infrastructure that can facilitate fast coordination between large workforce on field. TTR caters to this demand by providing benefits like optimized spectrum utilization, better coverage with fewer base stations, higher capacities, advanced features like voice and data integration and encryption. Its tactical radio functionality has made it an important solution for public safety organizations requiring group communication.
The global Terrestrial Trunked Radio Market is estimated to be valued at US$ 12.9 billion in 2023 and is expected to exhibit a CAGR of 4.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the terrestrial trunked radio market is the shift towards digital TETRA (Terrestrial Trunked Radio) and DMR (Digital Mobile Radio) technology. While analog systems are gradually being phased out, digital TTR allows features such as encryption, messaging services, and integration of data communication. Major countries in Europe, Middle East, and Africa have already implemented TETRA networks. Similarly, adoption of DMR standard is growing rapidly across regions. Moreover, the emergence of broadband PTT (Push-To-Talk) services over LTE (Long-Term Evolution) networks is expected to drive the next generation of mobile communication technology for critical communications. Leading solution providers are focusing on development of multi-standard radios that allow utilization of existing network investment and smooth transition to new technology. This is expected to fuel revenue growth of the terrestrial trunked radio market during the forecast period.
Porter's Analysis
Threat of new entrants: Moderate threat as the market require high capital investment and infrastructure for establishing network. Bargaining power of buyers: Moderate to high as buyers have option to switch between vendors. Bargaining power of suppliers: Suppliers have moderate power as there are number of component manufacturers. Threat of new substitutes: Moderate threat from new technology like 5G network. Competitive rivalry: High as key players competes on technology innovation, service offerings and pricing.
Key Takeaways
The global Terrestrial Trunked Radio market is expected to witness high growth. North America is expected to dominate the terrestrial trunked radio market over the forecast period owing to growing adoption in public safety sector and transportation sector. Europe is also expected hold a significant share in the market.
Regional analysis comprised Asia Pacific region is also projected to witness fastest growth in the market during the forecast period due to rising infrastructure development and growing adoption in transportation and logistics sector in countries like China and India.
Key players operating in the Terrestrial Trunked Radio market are Motorola Solutions, Hytera Communications Corporation Limited, Sepura, Simoco, DAMM Cellular Systems A/S, Rohill Engineering B.V., Bitea Limited.
For more Insights, Read –
https://www.marketwebjournal.com/terrestrial-trunked-radio-market-market-size-and-share-analysis/
