Land mobile radio (LMR) systems are designed to use in handling critical missions where first responders use these systems. Availability of text and voice services had led many public safety agencies away from LMR systems. However, the adoption of long-term evolution (LTE) technology by LMR manufacturers has revived the land mobile radio system market.
During the past few years, the need for advanced communication devices is growing pervasively, and, so is increasing the size of the land mobile radio system market. The demand for LMR devices in private security services is growing as well. Moreover, ballooning defense budget expenditure for safety systems in countries across the globe are escalating the market on the global platform.
Request for Free Sample Pages: https://www.marketresearchfuture.com/sample_request/5985
Acknowledging the accelerating growth, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global land mobile radio system market would reach USD 11,099.99 MN by 2023, registering over 10.69% CAGR throughout the forecast period (2018-2023).
Due to the increasing urbanization, the demand for manned guarding services has been rising, and the need to protect civilians is growing too. Simultaneously, the demand for trained security personnel in the defense sector is on the rise. Moreover, quadrupling number of malls, shopping centers, and IT parks that warrant for wireless communication devices indicates the increasing need for security services that can offer a trusted communication medium.
On the other hand, the emergence of automated security systems is expected to obstruct the growth of the market. Nevertheless, augmenting demand for safety technologies would support the growth of the market, increasing the uptake of LMR systems.
For a better understanding of the report, the market is segmented into four key dynamics:
By Type : Portable and Vehicle-mounted
By Application: Public Safety and Commercial.
By Technology: Digital and Analog.
By Regions: Europe, North America, Asia Pacific, and Rest-of-the-World.
North America is estimated to remain the largest region in the global land mobile radio system market. Large technological advancements and their uptake drive the growth of the market in the region. Moreover, the presence of various telecommunication equipment providers and the establishment of multiple standards drive the regional market. Large defense sector in this region creates opportunities for the land mobile radio market to grow significantly during the forecast period.
The land mobile radio market in the European region is a lucrative market, globally. Most of the countries in the region have robust military forces and large defense budgets for public security. The growing demand for safety systems fosters the growth of the regional market.
The resurging economy is surely playing a vital role in the growth of the land mobile radio market in the region. European countries such as Germany and the UK backed by the enormous investments in the land mobile radio market and related technologies account for major growth contributors to the regional market.
The Asia Pacific region land mobile radio systems market is rapidly emerging as a promising market, globally. Huge technological advances and increasing military budgets across the APAC countries led by the improving economic conditions are resulting in increasing the use of safety technology for public security and safety.
Further advancements expected to happen in the safety technology would result in the growth of the market in the region. Furthermore, the growth in the land mobile radio market is driven by factors such as the increasing population and urbanization that are increasing the demand for the safety of people.
The land mobile radio system market appears to be highly competitive, owing to the presence of a number of small and large-scale players. Mergers & acquisitions, brand reinforcement, and innovation remain the key trends for the leading players. The uptake of the latest communication networking technologies and interoperability solutions remain their primary focus.
Vendors compete on the basis of cost, quality, and dependency. They strive to develop low-cost, compact systems, emphasizing on improved hardware. Some vendors providing these systems also offer aftersales services to the end-users.
Many suppliers are focusing on the development of advanced land mobile radio system that can help them to keep at the forefront of the competition. Strong players in the market raise the entry barriers for new entrants.
They deliver products through their distribution channels and dealers. Key manufacturers incorporate strategic alliances with local dealers and manufacturers to expand their business in the countries where stringent regulations restrict them to export these systems.
Players leading the market for the land mobile radio system include Hytera Communications Corporation Ltd. (China), Harris Corporation (US), ICOM Inc. (Japan), Leonardo S.p.A. (Italy), JVCKenwood Corporation (Japan), Motorola Solutions, Inc. (US), Simoco Wireless Solutions Limited (UK), RELM Wireless Corporation (US), Thales Group (France), and Tait Ltd. (New Zealand), among others.
Access Full Summary of Report: https://www.marketresearchfuture.com/reports/land-mobile-radio-market-5985
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients.
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar