Global Land Mobile Radio Systems Market to Rise at 16.90% CAGR Driven by Wide-Scale Application

Transparency Market Research announces the release of a new research report titled “Land Mobile Radio (LMR) Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014 - 2020”. According to the report, the global land mobile radio (LMR) systems market is projected to exhibit a 16.90% CAGR from 2014 to 2020, expanding from a value of US$10.5 bn in 2013 to US$30.6 bn in 2020.

By type, the LMR systems market is divided into mobile (vehicular) and hand portable. Accounting for 55.90% of the overall market in 2013, hand portable LMR systems held the largest share in terms of revenue. This segment is fueled by wide-scale application in corporate, mining, and construction sectors and the rising demand from the government and defense sectors to enable communication in harsh conditions.

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The LMR systems market is technologically bifurcated into analog and digital. In 2013, the former dominated the overall market owing to large product offerings and their established presence in the market. However, by 2020, digital LMR systems will overtake analog systems, according to analysts at TMR, given the advanced features of TETRA, dPMR, Project (P25), DMR, and TETRAPOL – the different digital LMR systems.

The major application sectors of LMR systems include construction, commercial, military, and transportation. In 2013, the military sector held 36.10% of the overall LMR systems market, emerging as the largest application segment in terms of revenue. However, the demand for LMR systems in the commercial sector is projected to grow rapidly over the next five years owing to the rising adoption of LMR systems by small, medium, and large enterprises in order to streamline their business operations. The transportation sector is also anticipated to witness considerable growth by 2020 thanks to increased government focus on streamlining traffic control operations.

The global LMR systems market is geographically segmented into four main regions: Asia Pacific, North America, Europe, and Rest of the World. Presently, North America dominates the worldwide LMR systems market. However, Europe is forecast to be the largest revenue generator by 2020 owing to the growing demand for LMR systems from the government and construction sectors. On the other hand, thanks to rapid development in the automotive industry in India and China, Asia Pacific is anticipated to witness the highest growth over the forecast period.

Report Link: http://www.transparencymarketresearch.com/land-mobile-radio-systems.html

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