With reach US$ 12,034.52 Million, Two Way Radio Equipment Market shares overview with 6.2% CAGR by 2028

According to our latest market study on "Two-Way Radio Equipment Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Type, Signal Frequency, End-Use Industry, and Geography", the market is expected to grow from US$ 7,883.32 million in 2021 and is projected to reach US$ 12,034.52 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.

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The use of a digital two-way radio system improves the performance and efficiency of the radio communications system. It opens the door to various integrated applications and solutions that can unify communications from end to end, transforming the way businesses work. The digital radio system also covers applications such as video and security, dispatch, and job tickets. The rising demand for digital two-way radio equipment is influencing the players to develop new products. For instance, Motorola Solutions announced the launch of MOTOTRBO R7 in January 2022. It is digital two-way radio equipment with superior audio features and a small, rugged design for connecting teams in loud, harsh, and dynamic environments. All these factors are influencing the adoption of digital two-way radio equipment over analog systems, which drives the two-way radio equipment market growth.

Very high-frequency two-way radio equipment is normally used across outdoor operations in rural areas. The major industries that utilize this kind of two-way radio include farming & agriculture, road & bridge construction, volunteer public safety, paging systems, and long-haul trucking services. Motorola Solution., Inc.; Midland Radio Corporation; Wintec Co., Ltd are companies offering very high-frequency two-way radio equipment.

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North America is the most technically advanced region, owing to a well-established technology ecosystem, the existence of favorable economic policies, high acceptance of advanced technologies, and high GDP in countries such as the US and Canada. Further, technological advancements increased the adoption of advanced two-way radio equipment across various domains such as public safety, transportation, logistics, utilities, education, and hospitality.

Quick and effective communication is vital for law enforcement officers and the respective personnel who support them. As per the US Census Bureau Data of 2019, the country spent US$ 205 billion on law enforcement, which included expenditure of US$ 123 billion on policing and US$ 82 billion on corrections. Though relatively less populated than other US states, Washington, DC, and Nevada spent the most on policing and corrections.

Two Way Radio Equipment Market: Competitive Landscape

BK Technologies Inc.; Hytera Communications Corporation Ltd; Icom America Inc.; Midland Radio Corporation; Motorola Solutions Inc.; Tait Communications; Wintec Co., Ltd; Uniden America Corporation; JVCKENWOOD Corporation; and Ritron Inc are among the major companies operating in the two-way radio equipment market.

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