TETRA System Market to Garner $8.57 billion by 2030, Driven by Increase in Demand for Mission Critical Communication

The global terrestrial trunked radio (TETRA) system market size is expected to reach $8.57 billion by 2030 from $2.14 billion in 2020, growing at a CAGR of 15.24% from 2021 to 2030. The Asia-Pacific region is expected to be the leading contributor to the global market during the forecast period, followed by Europe and North America.

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TETRA systems are used in both public safety and commercial sectors by organizations that need reliability, capacity, and security for their communications. TETRA infrastructures, devices, services and applications are used by many industries, including public safety, oil & gas, transport and logistics, and utilities. The effectiveness, reliability and security of TETRA combined with its range of applications, makes it primary for many businesses and organizations. TETRA technology brings new outstanding features to mobile communications by combining features of mobile phones with fast data communications and the work group capabilities of PMR.

Advancements in broadband technologies offers huge demand for TETRA devices to guarantee better penetration and reliable results. With advancements in technology, the railway industry is replacing equipment with radio based digital signaling & telecommunication systems. Radio-based signaling & telecommunication systems permit to connect between various control centers & train crew and can easily replace existing conventional or analog communication systems. Continuous investments from operators in LTE infrastructure and prevalent internet, which has grown, owing to popularity of social networking sites propel terrestrial trunked radio (TETRA) system market growth.

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The global terrestrial trunked radio (TETRA) system market size is anticipated to witness significant growth during the forecast period. Factors such as growth of advance communication in the industrial sectors, technological advancements, and increase in demand for mission critical communication drive the market growth. However, high investments and maintenance cost are major restraints in the global market growth. In addition, growing use of mobile radio in the transportation industry is expected to create opportunities for the market. Therefore, these factors are expected to definitely affect global terrestrial trunked radio (TETRA) system industry during the forecast period.

Based on component, the hardware segment held the major share in 2020, accounting for around two-thirds of the global Terrestrial Trunked Radio (TETRA) system market. This is attributed to the fact that ETRA hardware offers several advantages such as they provide alerts to users in case of an emergency and offer durability and man-down functionalities. At the same time, the software segment would register the fastest CAGR of 17.2% from 2021 to 2030. Implementation of software application for text messaging, monitoring radio, and accessing voice & data information is expected to heighten the demand for software component in the terrestrial trunked radio (TETRA) system market, thereby driving the segment growth.

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Based on device, the portable segment contributed to more than two-thirds of the global Terrestrial Trunked Radio (TETRA) system market revenue in 2020, and is projected to lead the trail throughout the forecast period. This is because portable radios are handy and easy to use. However, the vehicular segment is projected to grow at the fastest CAGR of 16.5% from 2021 to 2030. Vehicle radios promise maximum mobility and are available in the forms of base station systems & hand-held systems, which provide instantaneous one-to-one or one-to-many communication facility. These factors propel the growth of the segment.

Region-wise, the terrestrial trunked radio (TETRA) system market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific contributed maximum revenue in 2020. Also, the market in Asia-Pacific region is expected to grow at a faster rate as compared to other regions, owing to high adoption of TETRA technologies in the government and public & safety, and transformation industry. The overall terrestrial trunked radio (TETRA) system market analysis is determined to understand the profitable trends to gain a stronger foothold.

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Key Findings Of The Study
• In 2020, the hardware segment accounted for the maximum revenue and is projected to grow at a notable CAGR of 14.10% during the forecast period.
• The trunked mode operation (TMO) segment accounted for more than 60% of the global market share in 2020.
• The commercial segment witness highest growth rate during the forecast period.
• UK was the major shareholder in the Europe terrestrial trunked radio (TETRA) system market share, accounting for approximately 28% share in 2020.

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