Land Mobile Radio System Market Share Will Hit US$ 50.1 Billion By 2028 | Growth With Recent Trends & Demand

According to the latest report by IMARC Group, titled "Land Mobile Radio System Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.' the study provides a detailed analysis of the industry, including the global land mobile radio system market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the land mobile radio system market?

The global land mobile radio system market size reached US$ 26.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 50.1 Billion by 2028, exhibiting a growth rate (CAGR) of 10.9% during 2023-2028.

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What is Land Mobile Radio System?

The land mobile radio system (LMR) refers to a wireless communications network used by public safety organizations for critical communications and transmitting encrypted information. It is commonly utilized by terrestrial operators to communicate with base stations. The system includes repeaters, vehicle-mounted cell phones, network infrastructure and portable handheld radios. They offer interoperability among authorities, data services, spectral efficiency, integrated voice-based functions, improved compatibility with existing systems and secure communications. They are widely used across various industries, such as construction, transportation, military, defense and marine.

What are the growth prospects and trends in the land mobile radio system industry?

The global land mobile radio system (LMR) market is primarily being driven by significant growth in the defense and aviation industries. The systems are extensively used for critical communication and sharing real-time information for enhanced security. Moreover, the widespread adoption of LMR systems in shopping malls, hospitals, airports and manufacturing units to streamline business operations and improve customer experience is favoring the market growth. Other factors, including the increasing utilization of LMR solutions for improving workforce productivity, along with various technological advancements, such as the launch of voice encrypted and digital LMR solutions, are creating a positive outlook for the market.

Who are the key players operating in the industry?

The report covers the major market players including: 

BK Technologies
Cisco Systems Inc.
CODAN Limited
Hytera Communications Corporation Limited
JVCKenwood Corporation
L3Harris Technologies Inc.
Motorola Solutions Inc.
Raytheon Technologies Corporation
Simoco Wireless Solutions
Tait Communications
TE Connectivity Ltd
Thales Group.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Type:

Base Station and Repeaters
Handheld Portable Radio
Vehicle Mounted Radio

Breakup by Technology:

Analog Technology
Digital Technology

Breakup by Frequency:

25 MHz-174 MHz (VHF)
450 MHz-512 MHz (UHF)
700 MHz and Above (SHF)

Breakup by Application:

Defense and Public Safety
Commercial
Construction
Transportation
Others

Breakup by Region:

North America
Europe
Asia Pacific
Latin America
Middle East and Africa

Key highlights of the report:                                           
Market Performance (2017-2022)
Market Outlook (2023-2028)
Market Trends
Market Drivers and Success Factors
The Impact of COVID-19 on the Global Market
Value Chain Analysis
Structure of the Global Market
Comprehensive mapping of the competitive landscape

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About Us:                                                               

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

This release was published on openPR.