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Steady Expansion Forecast for Two-Way Radio Market, Projected to Reach $14.48 Billion by 2029

Two-Way Radio

Two-Way Radio

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Two-Way Radio Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market for two-way radios has been expanding significantly in recent years. Transitioning from a market size of $9.82 billion in 2024, it is projected to reach $10.68 billion in 2025 with a compound annual growth rate (CAGR) of 8.8%. The surge in the historical period can be credited to the escalating digitization in diverse sectors, heightened need for public safety and security, increasing industrialization and infrastructural advancements, alongside the requirement for personalized and feature-enhanced solutions.

Two-Way Radio Market Size Forecast: What's the Projected Valuation by 2029?
The market size for two-way radios is projected to experience significant expansion in the upcoming years, anticipating reaching $14.48 billion by 2029 with a Compound Annual Growth Rate (CAGR) of 7.9%. This growth over the forecast period can be traced back to its increasing usage in the commercial and industrial sectors, ongoing adoption for outdoor leisure activities, escalated investments in public safety infrastructure, and growing demand in emerging markets. Trends expected to shape this market within the forecast period include the incorporation of cutting-edge technologies, interoperability with the Internet of Things (IoT) as well as Artificial Intelligence (AI) technologies, the shift towards cloud-based solutions, the preference for digital radios within law enforcement agencies, and the fusion with smartphones.

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What Are the Drivers Transforming the Two-Way Radio Market?
The surge in outdoor recreational activities is slated to stimulate the expansion of the two-way radio market in the future. Outdoor recreation, encompassing varied leisure activities and hobbies conducted in natural surroundings, is gaining popularity owing to its myriad health benefits, social trends, and the appeal of connecting with nature. Two-way radios have become vital tools for these outdoor endeavors, providing dependable communication where cellular service is not available and promoting safety and coordination during activities such as trekking and camping. For instance, the Bureau of Economic Analysis, a US government agency, reported in November 2023 that outdoor recreation accounted for 19.8% of the nation's economic value in 2022, an increase from 19.0% in the previous year. Therefore, the growing trend of participating in outdoor recreational activities is fueling the development of the two-way radio market.

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What Are the Key Trends Driving Two-Way Radio Market Growth?
Leading firms in the two-way radio industry are focusing on creating improved solutions, including portable two-way radios, to boost efficient communication for frontline staff. The handheld portable two-way radios enable users to send and receive messages without wired connections. They are versatile, cost-effective, and user-friendly, making them perfect for diverse applications, such as public safety, construction work, and various events. For example, Hytera Communications Corporation, a firm based in China that specializes in communications equipment, rolled out a new generation of intrinsically safe (IS) two-way radio series in November 2023. The series includes the HP79XEx DMR Portable Two-way Radio and the PT890Ex TETRA Portable Radio. These new radios, aimed at improving the safety of personnel and communication efficiency, are certified by several explosion-proof standards. This makes them fitting for industries like oil and gas, mining, chemical, firefighting, and more. The radios are engineered to eliminate sparking while in operation, minimize heat production, and ensure safety in environments that pose risks due to flammable dust and vapors.

Which Segments in the Two-Way Radio Market Offer the Most Profit Potential?
The two-way radio market covered in this report is segmented -

1) By Type: Analog Walkie-Talkie, Digital Walkie-Talkie
2) By Technology: Terrestrial Trunked Radio (TETRA), Project 25 (P25), Digital Mobile Radio (DMR), Next Generation Digital Narrowband (NXDN)
3) By Application: Government And Public Safety, Utilities, Industry And Commerce, Other Applications

Subsegments:
1) By Analog Walkie-Talkie: Standard Analog Walkie-Talkies, Long-Range Analog Walkie-Talkies, Compact Analog Walkie-Talkies
2) By Digital Walkie-Talkie: DMR (Digital Mobile Radio) Walkie-Talkies, TETRA (Terrestrial Trunked Radio) Walkie-Talkies, P25 (Project 25) Walkie-Talkies, Wi-Fi Or Bluetooth Enabled Digital Walkie-Talkies

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Which Firms Dominate the Two-Way Radio Market by Market Share and Revenue in 2025?
Major companies operating in the two-way radio market are Raytheon Technologies Corporation, Johnson Controls, Thales Group, Motorola Solutions Inc., Rohde & Schwarz GmbH & Co. KG, JVCKENWOOD Corporation, Kenwood Corporation, Maxon America Inc., TETRA, Codan Limited, Tait Communications, Sepura Limited, Icom Incorporated, Uniden America Corporation, BK Technologies Corporation, Shenzhen HQT Science & Technology Co. Ltd., Midland Radio Corporation, Simoco Wireless Solutions, Ritron Inc., Hytera Mobilfunk GmbH, SFL Mobile Radio, TPL Communications Inc., Thodukonics, Uniden America Corporation, Kirisun Communications Co. Ltd.

Which Regions Offer the Highest Growth Potential in the Two-Way Radio Market?
North America was the largest region in the two-way radio market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the two-way radio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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