Terrestrial Trunked Radio (TETRA) System Market Estimated to Experience a Hike in Growth By 2030

The terrestrial trunked radio (TETRA) system market size is expected to witness a high growth rate during the forecast period, owing to the technological advancements and growing use of mobile radio in the transportation industry. Also, various product launches and advancements in technologies anticipate huge growth in the market. 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.

𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐟𝐨𝐫 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅: https://www.alliedmarketresearch.com/request-sample/A15548

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 offer 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 connection between various control centers & train crews 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 the popularity of social networking sites propel terrestrial trunked radio (TETRA) system market growth.

The global terrestrial trunked radio (TETRA) system market size is anticipated to witness significant growth during the forecast period. Factors such as the growth of advanced communication in the industrial sectors, technological advancements, and an 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, the growing use of mobile radio in the transportation industry is expected to create opportunities for the market. Therefore, these factors are expected to affect the global terrestrial trunked radio (TETRA) system industry during the forecast period.

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 the Asia-Pacific region is expected to grow at a faster rate as compared to other regions, owing to the 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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𝐂𝐨𝐯𝐢𝐝-𝟏𝟗 𝐈𝐦𝐩𝐚𝐜𝐭 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬

COVID-19 has impacted both consumers and the economy. Electronics manufacturing hubs have been temporarily shut down to limit the COVID-19 spread among individuals. This has majorly affected the supply chain of the terrestrial trunked radio (TETRA) system market by creating a shortage of materials, components, and finished goods. Lack of business continuity has ensured a significant negative impact on revenue and shareholder returns, which further results in financial disruptions in the market.

In addition, the sudden decline in infrastructure development and installation projects is expected to hamper the terrestrial trunked radio (TETRA) system market share. However, the demand for terrestrial trunked radio (TETRA) systems has increased during the pandemic.

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 witnessed the highest growth rate during the forecast period.
- The UK was the major shareholder in the Europe terrestrial trunked radio (TETRA) system market share, accounting for approximately 28% share in 2020.

𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐁𝐞𝐟𝐨𝐫𝐞 𝐁𝐮𝐲𝐢𝐧𝐠: https://www.alliedmarketresearch.com/purchase-enquiry/A15548

The key players profiled in the report include SEPURA PLC, HYTERA Communications Corporation Limited, ROLTA India Limited, BITEA Limited, ROHILL Engineering B.V., Airbus Defense and Space OY, Motorola Solutions, Inc., JVCKENWOOD Corporation, SIMOCO Group, and DAMM Cellular Systems A/S These players have adopted various strategies, such as partnership, agreement, collaboration, acquisition, and product launch, to expand their foothold in terrestrial trunked radio (TETRA) system industry.

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