Push-to-Talk Over Cellular Market is Expected to Reach USD 6.95 Billion by 2027 | Top Players Such as - AT&T, Qualcomm and Verizon

According to the report published by Allied Market Research, The Push-to-Talk Over Cellular Market is Expected to Reach USD 6.95 Billion by 2027 | Top Players Such as - AT&T, Qualcomm and Verizon. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Deployment of LTE network, rise in number of internet users around the world, and proliferation of mobile devices drive the growth of the global push-to-talk over cellular market. However, the presence of latency and gaps in communication hamper the market. On the contrary, deployment of next generation 5G networks is expected to offer lucrative opportunities for the market players.

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The push-to-talk over cellular market size was valued at USD 3.43 billion in 2019, and is projected to reach USD 6.95 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027.

The global push-to-talk over cellular market segmentation includes component, application, and region. By component, it is categorized into equipment, software, and services. By application, it is divided into public safety & security, construction, energy & utility, transportation & logistics, manufacturing, government & defense, travel & hospitality, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. The market in Asia-Pacific is anticipated to garner a high growth rate as major players operating in the market are striving to gain a competitive edge over their rivals, as they have the capacity to cater to the global market requirements at a high rate.

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By component, the services segment is expected to register the highest CAGR of 11.6% from 2020 to 2027, owing to a rise in development of network infrastructure especially in developing economies. However, the equipment segment held the largest share in 2019, accounting for more than three-fifths of the global push-to-talk over cellular market. The ability of push-to-talk over cellular devices that provides collaborate and integrated solutions such as group communications, is a major factor expected to drive the growth of the segment. In addition, push-to-talk equipment enables interconnected Digital Mobile Radio (DMR) and cellular networks with advantages such as two-way radio boost the segment growth.

By application, the public safety and security segment held the largest share in 2019, contributing to more than one-fourth of the global push-to-talk over cellular market. Replacement of land mobile radio (LMR) with push to talk over cellular services as it offers improved public safety communications operability during emergency and coordination situations drive the segment growth. However, the transportation & logistics segment is expected to register the highest CAGR of 12.0% during the forecast period. Most of the logistics companies are replacing traditional walkie talkie communication solutions with modern communications solutions, based on digital models such as the push-to-talk over cellular phones. This factor drives the segment growth.

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By region, the global push-to-talk over cellular market across North America held the largest share in 2019, accounting for more than one-third of the market. North America industries are utilizing push-to-talk over LTE networks that help businesses to benefit from expansive commercial coverage that is much larger than that provided by private or shared LMR networks. This factor drives the market growth in this region. However, the Asia-Pacific region is projected to register the highest CAGR of 10.6% during the forecast period. Rapidly growing penetration of smartphones and expanding internet connectivity in Asia-Pacific region is expected to drive the market growth in this province.

Some of the key push-to-talk over cellular market players profiled in the report include AT&T, Inc., Qualcomm Technologies, Inc., Verizon Communications, Motorola Solutions, Inc., Kyocera Corporation, Mobile Tornado, Sprint Corporation, Bell Canada, Simoco Wireless Solutions, and Sonim Technologies Inc.

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COVID-19 Scenarios

● The push-to-talk over cellular communication services have witnessed an increased demand amid COVID-19, owing to increase in the practice of remote working system. In addition, the rise in check posts to monitor the people in various areas to curb the spread of coronavirus has surged the demand for push-to-talk over cellular communication devices as well.

● Whereas the manufacturing of devices has come to a halt due to stringent regulations amid COVID-19. Furthermore, the investments and orders have been put on hold. However, with the nod given by the government the industry has restarted the processes and manufacturing at a slower pace.

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