Terrestrial Trunked Radio (TETRA) System Market to Reach $8.57 Bn, Globally, by 2030 at 15.24% CAGR: Allied Market Research

Allied Market Research published a report, titled, "Terrestrial Trunked Radio (TETRA) System Market by Component (Hardware and Software), Modes of Operation (Trunked Mode Operation (TMO) and Direct Mode Operation (DMO)), and Device (Portable and Vehicular), and End User (Industrial, Transportation, Utilities, Military & Defense, Government & Public Safety, Commercial, and Others): Global Opportunity Analysis and Industry Forecast, 2021-2030." According to the report, the global Terrestrial Trunked Radio (TETRA) system industry was estimated at $2.14 billion in 2020, and is anticipated to hit $8.57 billion by 2030, registering a CAGR of 15.24% from 2021 to 2030.

Drivers, Restraints, and Opportunities-

Rise in demand for efficient critical communication, developments in advanced communication system in the Industrial sector, and emergence of high-end technological advancements drive the growth of the global Terrestrial Trunked Radio (TETRA) system industry. On the other hand, high investment and maintenance cost restrains the growth to some extent. However, increase in use of mobile radio in the transportation sector is expected to pave the way for lucrative opportunities in the industry.

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Covid-19 Scenario-

Electronics manufacturing hubs across the world were temporarily shut down to curb the spread of Covid-19 among individuals, especially during the initial phase. This impacted the supply chain of the terrestrial trunked radio (TETRA) system market negatively by creating shortage of materials, components, and finished goods.
However, the market is anticipated to revive soon at a slow & steady pace.
The Hardware Segment to Dominate by 2030-

Based on component, the hardware segment held the major share in 2020, accounting for around two-thirds of the global Terrestrial Trunked Radio (TETRA) system market. This is attributed to the fact that ETRA hardware offers several advantages such as they provide alerts to users in case of an emergency and offer durability and man-down functionalities. At the same time, the software segment would register the fastest CAGR of 17.2% from 2021 to 2030. Implementation of software application for text messaging, monitoring radio, and accessing voice & data information is expected to heighten the demand for software component in the terrestrial trunked radio (TETRA) system market, thereby driving the segment growth.

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The Portable Segment to Maintain the Dominant Share-

Based on device, the portable segment contributed to more than two-thirds of the global Terrestrial Trunked Radio (TETRA) system market revenue in 2020, and is projected to lead the trail throughout the forecast period. This is because portable radios are handy and easy to use. However, the vehicular segment is projected to grow at the fastest CAGR of 16.5% from 2021 to 2030. Vehicle radios promise maximum mobility and are available in the forms of base station systems & hand-held systems, which provide instantaneous one-to-one or one-to-many communication facility. These factors propel the growth of the segment.

Asia-Pacific, followed by Europe and North America, Garnered the Highest Share in 2020-

Based on region, the market across Asia-Pacific, followed by Europe and North America, contributed to the highest share in 2020, accounting for around one-third of the global Terrestrial Trunked Radio (TETRA) system market, and is estimated to continue its dominant share in terms of revenue by 2030. The same region is also expected to showcase the fastest CAGR of 18.5% during the forecast period. This is due to high adoption of TETRA technologies in several industries in the Asia-Pacific region.

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Key Players in the Industry-

HYTERA Communications Corporation Limited
SIMOCO Group
BITEA Limited
ROHILL Engineering B.V.
DAMM Cellular Systems A/S
SEPURA PLC
Airbus Defense and Space OY
Motorola Solutions, Inc.
ROLTA India Limited
JVCKENWOOD Corporation
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Terrestrial Trunked Radio (TETRA) System Market : https://www.alliedmarketresearch.com/terrestrial-trunked-radio-tetra-system-market-A15548

Radio Modem Market: https://www.alliedmarketresearch.com/radio-modem-market-A14640

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