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Global Land Mobile Radio (LMR) System Market worth USD 36.87 billion and CAGR 17.0% by 2021

11-23-2016 10:31 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: zion market research

Global Land Mobile Radio (LMR) System Market worth USD 36.87

Zion Research has published a new report titled “Land Mobile Radio (LMR) System Market (Hand Portable and Mobile (Vehicular)) for Military, Commercial, Construction, Transportation and Others Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global demand for Land Mobile Radio (LMR) system market was valued at USD 14.37 billion in 2015, and is expected to generate revenue of USD 36.87 billion by end of 2021, growing at a CAGR of slightly above 17.0% between 2016 and 2021.

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Land Mobile Radio (LMR) systems are connected wireless communication systems. They are used in fire and police departments, emergency services, and other first responder organizations. Land mobile radio (LMR) systems also used in the companies that possess a vast fleet of vehicles or an extensive network field staff. LMR systems can be classified into two major technologies such as analog and digital types. These systems are used for applications such as commercial, construction, transportation, military, and utility.

The LMR system market is primarily driven by increasing significance of efficient mission critical communication operations, advance LMR system and transition from digital LMR systems. Increasing number of purchases from the government and defense sector to allow communication in harsh situation is expected to fuel growth of this industry. In addition, the expansion of LTE networks has driven the demand for LTE-integrated LMR systems which would support the LMR system market growth in the near future. However, security issue is a major challenge that may limit the growth of the Land mobile radio (LMR) systems market. Even so, advanced technologies in land mobile radio systems and growing adoption by corporate users may open the opportunities for this market within the forecast period.

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The global land mobile radio (LMR) systems market is segmented on the basis of type, technology, application, and region. Based on type, the LMR system market is segmented as hand portable and mobile (vehicular). In terms of revenue, hand portable emerged as leading segment of LMR system market and accounted for over 55% share of the overall market in 2015. The mobile (vehicular) segment is expected to witness significant growth rate over the forecast period.

Based on technology, the global and mobile radio (LMR) systems market is segmented in to digital and analog. Digital LMRs technology is expected to emerge as the largest market and dominate the land mobile radio market from 2015 owing to the growing demand for digitalized products. Moreover, tetra, project 25, DMR & Tetrapol is the sub segment of digital technology. In 2015, TETRA digital technology based LMR systems followed by project 25 technology segment dominated the digital technology segment of this market.

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Military application segment dominated the land mobile radio (LMR) systems market in 2015. This segment is expected to continue its dominance in global market throughout the forecast period. Commercial sector is expected to witness a moderate growth in the years to come.

Geographically, global LMR market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America regions. North America is one of the largest markets for land mobile radio systems in 2015. Asia Pacific is expected to exhibit tremendous growth in the near future. Europe is expected to grow at a significant rate due to the surging demand for LMR systems from the construction and government sectors.

Some of the key players in land mobile radio (LMR) systems market include Airbus DS Communications, TE Connectivity Ltd., Honeywell International, Inc., Raytheon Company, RELM Wireless Corporation, Harris Corporation, Thales Group S.A., Motorola Solutions, Inc., Cassadian Communications Incorporation, Nokia Solutions and Networks, and JVC KENWOOD Corporation.

Browse the full report at https://www.zionmarketresearch.com/report/land-mobile-radio-lmr-system-market

About Us

Zion Market Research is an obligated company. We create futuristic, cutting edge, informative reports ranging from industry reports, company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly in order to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client’s needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us.

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