Press release
Land Mobile Radio Market to Reach $36.38B by 2028, Growing at 14.7% CAGR || Motorola Solutions Inc., Harris Corporation, Cartel Communication Systems Inc
Land Mobile Radio Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the land mobile radio industry. This report on land mobile radio market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The land mobile radio market size has grown rapidly in recent years. It will grow from $18.17 billion in 2023 to $21.01 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth in the historic period can be attributed to public safety communications, military and defense applications, transportation and logistics, construction and infrastructure, oil and gas industry. The land mobile radio market size is expected to see rapid growth in the next few years. It will grow to $36.38 billion in 2028 at a compound annual growth rate (CAGR) of 14.7%.
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Key Market Players:
Motorola Solutions Inc., Harris Corporation, Cartel Communication Systems Inc., BK Technologies Inc., TE Connectivity Ltd are prominent players in the land mobile radio industry.
Market Drivers:
According to the Land Mobile Radio Market Report 2023 by The Business Research Company, the key factors driving the growth of the land mobile radio market, includes the rising cases of natural disasters. Natural disasters refer to catastrophic events or phenomena that occur in the natural environment and can cause significant damage, destruction, and disruption to human life, property, and ecosystems. Land mobile radio systems are used in natural disasters due to their reliability, wide coverage, interoperability, and secure communication features. For instance, in 2021, the Emergency Event Database (EM-DAT), a Belgium-based database organization, recorded 432 disastrous events related to natural hazards worldwide.
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Market segments for land mobile radio include:
1) By Type: Hand Portable, In-Vehicle (Mobile)
2) By Technology: Analog, Digital
3) By Frequency: 25-174 (VHF), 200-512 (UHF), 700 MHZ And Above
4) By Application: Commercial, Public Safety, Mining, Oil and Gas, Energy, Defense, Transportation, Construction, Other Applications
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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