Global Land Mobile Radio Market is Forecast to Reach a Value of USD 50 Billion By 2028 with a Growing CAGR of 15% | Infinium Global Research

Infinium Global Research, a leading market research firm, has recently released an insightful report on the Land Mobile Radio (LMR) Market, offering a thorough analysis of global and regional trends. The report provides a comprehensive understanding of the market dynamics, encompassing drivers, restraints, and macro indicators impacting the short-term and long-term prospects of the land mobile radio market. With detailed insights into trends, forecasts, and dollar values, the report forecasts an impressive Compound Annual Growth Rate (CAGR) of nearly 15% in the global land mobile radio market from 2022 to 2028.

To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/reports/sample-request/40819

Exponential Growth: Navigating the Land Mobile Radio Market

In 2022, the global land mobile radio market generated revenue exceeding USD 22 billion, and the report anticipates this figure to soar to over USD 50 billion by 2028. Land mobile radio, known as push-to-talk two-way radio communication, plays a crucial role in mission-critical communications for commercial businesses and public safety, functioning in various contexts such as handheld, vehicle-mounted, and fixed base. With a versatile application across industries, LMR serves as the primary form of secure and immediate communication. The market's growth is further fueled by countries worldwide emphasizing the modernization of their land forces, replacing outdated communication systems with modern LMR systems.

Driving Forces and Challenges: Key Considerations Shaping the LMR Market

The modernization of land forces across the globe is a significant driver for the land mobile radio market. Ongoing modernization programs, reflecting in increased military spending, contribute to the adoption of advanced communication equipment, propelling market growth. LMR finds applications not only in defense but also in sectors such as manufacturing, utility, law enforcement, and oil & gas, further accelerating its market penetration. However, the high cost of LMR systems poses a challenge to market growth. Despite this, technological advancements in radio technology are expected to open new avenues for growth. The COVID-19 pandemic has had a considerable impact on the market, with lockdowns disrupting supply chains and causing a decline in demand as commercial and industrial units shuttered.

Regional Dynamics: North America Dominates, Asia-Pacific Emerges as the Fastest-Growing Region

In terms of revenue, North America takes the lead in the land mobile radio market, attributed to being one of the world's top military spenders. With the U.S. alone spending over USD 801 billion on the military in 2021, defense and law enforcement agencies emerge as significant users of LMR, propelling market growth. The region is experiencing a surge in LMR usage by law enforcement agencies due to growing public safety concerns. Other industries, including manufacturing, utilities, and oil & gas, are increasingly adopting LMR for its myriad advantages. Asia-Pacific is anticipated to be the fastest-growing region, driven by escalating demand from end-user industries.

Key Market Segments

The report categorizes the land mobile radio market into types (mobile LMR system and portable LMR system), technologies (analog and digital), and end-users (defense and law enforcement, commercial, construction, and others).

Industry Leaders

Profiles of major companies in the land mobile radio market, including Motorola Solutions, Inc., RELM Wireless Corporation, Cassidian Communications, INC., Thales Group S.A., JVCKENWOOD Corporation, Hytera Communications Corporation Limited, Tait Radio Communications Limited, Sepura PLC, and Simoco Wireless Solutions, are featured in the report.

Enquire Here Get Customization & Check the Discount for the Report @ https://www.infiniumglobalresearch.com/reports/customization/40819

Table of Content

Chapter 1. Preface

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

2.1. Land Mobile Radio Market Highlights

2.2. Land Mobile Radio Market Projection

2.3. Land Mobile Radio Market Regional Highlights

Chapter 3. Global Land Mobile Radio Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.3. Analysis of COVID-19 impact on the Land Mobile Radio Market

3.4. Porter's Five Forces Analysis

3.5. IGR-Growth Matrix Analysis

3.5.1. IGR-Growth Matrix Analysis by Type

3.5.2. IGR-Growth Matrix Analysis by Technology

3.5.3. IGR-Growth Matrix Analysis by End User

3.5.4. IGR-Growth Matrix Analysis by Region

3.6. Value Chain Analysis of Land Mobile Radio Market

Chapter 4. Land Mobile Radio Market Macro Indicator Analysis

Chapter 5. Global Land Mobile Radio Market by Type

5.1. Mobile LMR System

5.2. Portable LMR System

Chapter 6. Global Land Mobile Radio Market by Technology

6.1. Analog

6.2. Digital

Chapter 7. Global Land Mobile Radio Market by End User

7.1. Defence and Law Enforcement

7.2. Commercial

7.3. Construction

7.4. Others

Chapter 8. Global Land Mobile Radio Market by Region 2022-2028

8.1. North America

8.1.1. North America Land Mobile Radio Market by Type

8.1.2. North America Land Mobile Radio Market by Technology

8.1.3. North America Land Mobile Radio Market by End User

8.1.4. North America Land Mobile Radio Market by Country

8.2. Europe

8.2.1. Europe Land Mobile Radio Market by Type

8.2.2. Europe Land Mobile Radio Market by Technology

8.2.3. Europe Land Mobile Radio Market by End User

8.2.4. Europe Land Mobile Radio Market by Country

8.3. Asia-Pacific

8.3.1. Asia-Pacific Land Mobile Radio Market by Type

8.3.2. Asia-Pacific Land Mobile Radio Market by Technology

8.3.3. Asia-Pacific Land Mobile Radio Market by End User

8.3.4. Asia-Pacific Land Mobile Radio Market by Country

8.4. RoW

8.4.1. RoW Land Mobile Radio Market by Type

8.4.2. RoW Land Mobile Radio Market by Technology

8.4.3. RoW Land Mobile Radio Market by End User

8.4.4. RoW Land Mobile Radio Market by Sub-region

Chapter 9. Company Profiles and Competitive Landscape

9.1. Competitive Landscape in the Global Land Mobile Radio Market

9.2. Companies Profiles

9.2.1. Motorola Solutions, Inc.

9.2.2. BK Technologies

9.2.3. Cassidian Communications, INC.

9.2.4. Thales Group S.A.

9.2.5. JVCKENWOOD Corporation

9.2.6. Hytera Communications Corporation Limited

9.2.7. Tait Radio Communications Limited

9.2.8. Sepura PLC

9.2.9. Simoco Wireless Solutions

More Insights on this report, Speak to Our Analyst: https://www.infiniumglobalresearch.com/reports/enquiry/40819

Reasons to Buy this Report:

=> Comprehensive analysis of global as well as regional markets of land mobile radio.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2028.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

2nd Floor, Ganadish Empire, Rahatani Chowk, Pimple Saudagar, Pimpri-Chinchwad, Maharashtra 411027

About Infinium Global Research:

Infinium Global Research is a business consulting and market research firm; a group of experts that caters to fulfilling business and market research needs of leading companies in various industry verticals and business segments. The company also serves government bodies, institutes, and non-profit/non-government organizations to meet their knowledge and information needs.

Through our information services and solutions, we assist our clients to improve their performance and assess the market conditions to achieve their organizational goals. Our team of experts and analysts are engaged in continuously monitoring and assessing the market conditions to provide knowledge support to our clients. To help our clients and to stay updated with the advances and inventions in technology, business processes, regulations, and the environment, Infinium often conducts regular meets with industry experts and opinion leaders. Our key opinion leaders are involved in monitoring and assessing the progress in the business environment, so as to offer the best opinion to our clients.

This release was published on openPR.