Press release
Professional Mobile Radio (PMR) Market to Hit $44.41 Billion by 2028 with 14% CAGR Growth
Professional Mobile Radio (PMR) Market Report
Professional Mobile Radio (PMR) Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $44.41 Bn In 2028 At A CAGR Of 14% :
The professional mobile radio (PMR) market size has grown rapidly in recent years. It will grow from $23.11 billion in 2023 to $26.26 billion in 2024 at a compound annual growth rate (CAGR) of 13.6%. The growth in the historic period can be attributed to rise in the globalization and interconnectivity, increased adoption of remote work, demand for mobile communication, government regulations and standards, and increassed public safety.
The professional mobile radio (PMR) market size is expected to see rapid growth in the next few years. It will grow to $44.41 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to rising usage of land mobile radios, the need for interoperable communication, increasing broadband networks, increasing threat of cyberattacks, and growing concerns about environmental sustainability. Major trends in the forecast period include advancements in radio technology, advanced radio communication systems, integration with the Internet of Things (IoT) and artificial intelligence (AI) technologies, mission-critical communication, long-term evolution (LTE) technology, and cloud-based solutions
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Professional Mobile Radio (PMR) Market Major Segments
The professional mobile radio (PMR) market covered in this report is segmented -
1) By Frequency: 25 MHz-174 MHz (VHF), 450 MHz-512 MHz (UHF), 700 MHz And Above (SHF)
2) By Technology: Digital, Analog
3) By Application: Commercial, Public Safety
Key Driver - Impact Of Rising Public Safety Concerns On The Professional Mobile Radio (PMR) Market Growth
Rising adoption for public safety is expected to propel the growth of the professional mobile radio (PMR) market going forward. Public safety refers to the welfare and protection of the general public, encompassing the government's responsibility to ensure people are safe from harm and danger. The increase in public safety concerns is due to several factors, such as global events and crises, socioeconomic disparities, environmental factors, and social and political dynamics. Professional mobile radio (PMR) is an essential communication tool that provides extensive coverage and is frequently designed with extra components to ensure that emergency responders have access to communication channels when they are most needed without interfering with civilian network traffic. For instance, in December 2023, according to the National Crime Records Bureau (NCRB), an India-based government agency responsible for collecting and analyzing crime data, a total of 4,45,256 cases of crime against women were reported in 2022, marking a 4% increase from 2021. Furthermore, in July 2023, according to Statistics Canada, a Canada-based government agency, police reported 874 homicides in Canada in 2022, 78 more than the year before. Therefore, rising adoption for public safety is driving the professional mobile radio (PMR) market. Therefore, rising adoption for public safety is driving the professional mobile radio (PMR) market.
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Prominent Trend - Innovative Digital Mobile Radio Solutions For Enhanced Communication Efficacy
Major companies operating in the professional mobile radio (PMR) market are focused on developing innovative solutions, such as digital mobile radio (DMR), to gain a competitive edge in the market. Digital mobile radio (DMR) refers to a digital radio standard designed for professional mobile radio (PMR) systems used by businesses, governments, and other organizations for voice and data transmission on non-public radio networks. For instance, in July 2022, Hytera Communications Corporation Limited, a China-based communications equipment company, introduced its line of professional mobile radios featuring 5G, digital mobile radio (DMR), and LTE technologies. The new line of professional radios includes the AP & BP Series business radios, H Series DMR radios, Push-to-Talk over Cellular (PoC) radios, and Body Worn Camera, which are developed to ensure that enterprises and government agencies operate smoothly in a variety of indoor and outdoor work locations in Indonesia. These provide clear and reliable digital voice communication, offering better audio quality and noise reduction.
Professional Mobile Radio (PMR) Market Players
Major companies operating in the professional mobile radio (PMR) market are Airbus SE, Rostec, Ericsson, Thales Group, L3Harris Technologies Inc., Motorola Solutions Inc., Maxon America Inc., JVCKenwood Corporation, SITA, VIAVI Solutions Inc., Kontron AG, Anritsu Corporation, Hytera Communications Corporation Limited, Icom Inc. , Rexon Technology Co. Ltd., Sepura Limited, Zetron Inc., Uniden Holdings Corporation, Simoco Wireless Solutions, Midland Radio Corporation, Ritron Inc., PowerTrunk.com
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Largest And Fastest Growing Region In The Market
North America was the largest region in the professional mobile radio (PMR) market in 2023. The regions covered in the professional mobile radio (PMR) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Professional Mobile Radio (PMR) Market Report Structure
3. Professional Mobile Radio (PMR) Market Trends And Strategies
4. Professional Mobile Radio (PMR) Market - Macro Economic Scenario
5. Professional Mobile Radio (PMR) Market Size And Growth
…..
27. Professional Mobile Radio (PMR) Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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