Demand for push-to-talk hardware and services has gained fast-paced growth over the past years, owing to rise in adoption in the public safety sector. With increase in requirement for PTT services with LMR networks, stakeholders in this field are expected to come across new opportunities over the coming years. Despite facing a temporary decline due to the onset of the COVID-19 pandemic, industry players are projected to gain higher revenues with the surge in demand from government & defense and commercial sectors as well.
The latest report by Fact.MR predicts that the global push-to-talk (PTT) market will expand at a CAGR of over 8% from 2021 to 2031, surpassing a US$ 40 billion valuation by 2031.
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Key Takeaways from Market Study
- Rise in demand from government and defense sector to fuel sales
- The United States to hold a major share of the global PTT market
- Germany to exhibit hegemony for push-to-talk services and solution in Europe
- China and India to take the spotlight in the world’s fastest-growing push-to-talk industry – Asia Pacific
- The United Kingdom, Germany, Japan, and France to emerge highly lucrative markets for PTT
- LMR push-to-talk solutions to be most sought-after across regions
“Increase in demand for push-to-talk hardware, solutions, and services across diverse end-use sectors is expected to spearhead industry growth, while rising adoption of Land Mobile Radio (LMR) type of networks will further fuel sales,” says a Fact.MR analyst.
Demand for Push-to-Talk Services Increasing from Commercial Sector
Push-to-talk services are highly sought-after in the commercial sector as a means of instantaneous communication through wireless cellular phone services. With demand from various commercial sectors such as transportation & logistics, travel & hospitality, retail, and others increasing, market players are expected to witness impressive increase in revenue over the coming years.
According to a report titled “Logistics & Transportation Industry”, published by SelectUSA, the U.S. logistics and transportation industry is highly progressive, while business logistics costs reached US$ 1.6 trillion in 2018, representing 8% of the Gross Domestic Product (GDP) in that year. Also, as stated in a report titled “Retail Services”, published by the European Commission (EC), the retail & wholesale industry in the European Union (EU) is highly potential. Though retail sales dropped by 5.40% in 2020 due to the COVID-19 pandemic, it’s getting back on its feet and is set to create new opportunities for PTT market players through 2031.
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Who is Winning in this Space?
Competition for PTT is getting stricter with each passing year, and players in the market are increasing their frequency of launching new products.
- AINA Wireless recently launched its new PTT Smart Button, PTT Voice Responder, and others
- GroupTalk launched its new Enterprise Mobile Communication and Safety Solutions with its Modern Web-based Push-to-Talk Cloud Service
More Valuable Insights
In its latest report, Fact.MR offers an unbiased analysis of the push-to-talk market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of network (LMR and cellular) and end-use industry (public safety, commercial [transportation & logistics, construction, retail, travel & hospitality, health, and others], and government & defense), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).
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About the ICT Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the ICT team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the Industrial lucidly in 50+ countries for over a decade. The ICT team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
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