Two-Way Radio Equipment Market 2023 Leading Trends - Hytera Communications, BK Technologies

As per the report published by The Brainy Insights, the global two-way radio equipment market is expected to grow from USD 7283.3 million in 2021 to USD 12200.9 million by 2030, at a CAGR of 5.9% during the forecast period 2022-2030. The North American region emerged as the largest market for the global two-way radio equipment market, with a 41.3% share of the market revenue in 2021. The market for two-way radio equipment has been developing in the region due to high GDP countries like the US. Further, the adoption of technologies in various sectors such as public safety, logistics, education, transportation, utilities, and hospitality also offers lucrative growth opportunities for the two-way radio equipment market.

𝐆𝐫𝐚𝐛 𝐭𝐡𝐞 𝐬𝐚𝐦𝐩𝐥𝐞 𝐫𝐞𝐩𝐨𝐫𝐭- https://www.thebrainyinsights.com/enquiry/sample-request/12733

Global Two-Way Radio Equipment Market Size By Product Type (Digital and Analog), By End-User (Government & Public Sector, Manufacturing, Utilities, Transportation & Logistics, Education, Hospitality, and Others), Regions, Global Industry Analysis, Share, Growth, Trends, and Forecast 2022 to 2030

Leading companies in the industry include Hytera Communications, BK Technologies, L3Harris technologies, Motorola Corporation, JVCKENWOOD Corporation, Midland, Cobra, Binatone, Uniden, and Entel Group, among others which are offering more significant opportunities and are continuously focused on new product developments and venture capital investments to obtain market share.

The product type segment is divided into analog and digital. The analog segment dominated the market, with a market share of around 64% in 2021. The analog two-way radio equipment is easy to use and gets connected shortly, which drives its demand. It also gives high-quality audio for efficient communication in chaos-like situations, which offers lucrative growth opportunities for the market. The end-user segment is divided into government & public sector, manufacturing, utilities, transportation & logistics, education, hospitality, and others. In 2021, the government and public sector segment accounted for the largest share of the market, with 23% and a market revenue of 1675.1 million. Many government and public organizations lack proper communication between the employees and various departments on time. But these days, two-way radio equipment is widely used in government and public sectors to overcome the communication gap between employees and departments, propelling the two-way radio equipment market growth.

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The demand for two-way radio equipment increases due to different sectors' growth. The growth and production are increasing the need for swift communication between the employees and various departments of the organization, improving the quality of products and services. Thus, two-way radio equipment can be used globally to improve communication systems. However, the internet penetration in the communication sector is hampering the growth of the two-way radio equipment market. Cell phones are widely being used for connecting one person to another quickly and swiftly because of which it has been widely accepted among industries and various sectors. Two-way radio equipment is mostly used by harbormasters and ship captains, air traffic controllers and aircraft pilots, personnel from emergency services like police officers, taxi and delivery services, firefighters, and ambulance paramedics.

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