Global walkie talkie market to reach $7.3 billion by 2030: Allied Market Research

Increase in spending by governments and public safety agencies, diverse use in driving sales, and surge in adoption of digital radios drive the growth of the global walkie talkie market. Production facilities in the consumer goods sector have been closed down partially or completely due to lockdown measures, unavailability of the workforce, and disrupted supply chain worldwide. This impacted the production volumes of walkie talkie.

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Portland, OR, Sept. 22, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global walkie talkie market generated $3.2 billion in 2020, and is estimated to reach $7.3 billion by 2030, manifesting a CAGR of 8.8% from 2021 to 2030. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chain, regional landscape, and competitive scenario.

Increase in spending by governments and public safety agencies, diverse use of walkie talkies in driving sales, and surge in adoption of digital radios drive the growth of the global walkie talkie market. However, limitations regarding range and bandwidth limit the market growth. On the other hand, product innovations and increase in online retail platforms create new opportunities in the coming years.

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 Covid-19 Scenario:

  • Production facilities in the consumer goods sector have been closed down partially or completely due to lockdown measures, unavailability of the workforce, and disrupted supply chain worldwide. This impacted the production volumes of walkie talkie.
  • The demand from the hospitality industry and airports along with applications sectors such as residential and commercial has been decreased significantly due to the lockdown. However, the demand is expected to recover during the post-lockdown.

The report offers detailed segmentation of the global walkie talkie market based on product type, end user, distribution channel, and region.

Based on product type, the analog segment held the highest share in 2020, accounting for nearly three-fifths of the total share, and is projected to maintain its lead during the forecast period. However, the digital segment is expected to portray the largest CAGR of 9.4% from 2021 to 2030.

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 Based on end use, the commercial segment contributed to the largest share in 2020, accounting for more than four-fifths of the global walkie talkie market, and is expected to maintain its leadership status throughout the forecast period. Moreover, this segment is projected to manifest the highest CAGR of 9.0% from 2021 to 2030. The research also analyzes the residential segment.

Based on region, North America accounted for the highest share in 2020, contributing to nearly two-fifths of the total share, and is expected to maintain its lead position in terms of revenue by 2030. However, Asia-Pacific is estimated to witness the largest CAGR of 11.7% during the forecast period.

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Leading players of the global walkie talkie market analyzed in the research include Entel Group Hongkong Retevis Trade Co., Ltd., Icom Inc., Hytera Communications Corporation Limited, JVCKENWOOD USA Corporation, Motorola Solution, Inc., Kirisun Communication Co., Ltd, Tait Communications, Shenzhen HQT Science & Technology Co., Ltd., and Uniden Holdings Corporation.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.



 

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