Dublin, Jan. 18, 2024 (GLOBE NEWSWIRE) -- The "Global Land Mobile Radio System Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global land mobile radio system market size reached US$ 26.5 Billion in 2022. Looking forward, the market is expected to reach US$ 50.1 Billion by 2028, exhibiting a growth rate (CAGR) of 11.20% during 2022-2028.
LMR systems offer interoperability among agencies, integrated voice and data services, spectral efficiency, enhanced compatibility with existing systems and trunked, conventional and secure communications. As a result, they find extensive application across various industries, such as construction, commercial, transportation, marine, defense and military.
Land Mobile Radio System Market Trends
Significant growth in the defense and aviation industries across the globe is one of the key factors creating a positive outlook for the market. LMR systems are widely used for seamless communications, sharing critical information and real-time data transmission for enhanced safety and productivity.
Moreover, the shifting consumer preference from analog LMR systems to advanced digital variants that support both voice and data communications is providing a thrust to the market growth. These innovative solutions provide enhanced signal coverage, improved voice quality, radio capacity and extended battery life. Additionally, various technological advancements, such as the development of terrestrial trunked radio (TETRA) systems for emergency radio communications, are acting as other growth-inducing factors.
These systems are used by paramedics, fire departments, police forces and ambulatory service providers to communicate through public safety networks. In line with this, the rising demand for reliable and cost-effective LMRs among the masses is also contributing to the growth of the market. Other factors, including the widespread product adoption for commercial applications, along with the increasing demand for voice encryption for secure communications, are anticipated to drive the market toward growth.
Key Questions Answered in This Report:
- How has the global land mobile radio system market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global land mobile radio system market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the frequency?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global land mobile radio system market and who are the key players?
- What is the degree of competition in the industry?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 148 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $26.5 Billion |
| Forecasted Market Value (USD) by 2028 | $50.1 Billion |
| Compound Annual Growth Rate | 11.2% |
| Regions Covered | Global |
Competitive Landscape
- BK Technologies
- Cisco Systems Inc.
- CODAN Limited
- Hytera Communications Corporation Limited
- JVCKenwood Corporation
- L3Harris Technologies Inc.
- Motorola Solutions Inc.
- Raytheon Technologies Corporation
- Simoco Wireless Solutions
- Tait Communications
- TE Connectivity Ltd.
- Thales Group
Key Market Segmentation
Breakup by Type:
- Base Station and Repeaters
- Handheld Portable Radio
- Vehicle Mounted Radio
Breakup by Technology:
- Analog Technology
- Digital Technology
Breakup by Frequency:
- 25 MHz-174 MHz (VHF)
- 450 MHz-512 MHz (UHF)
- 700 MHz and Above (SHF)
Breakup by Application:
- Defense and Public Safety
- Commercial
- Construction
- Transportation
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Latin America
- Brazil
- Mexico
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/n1d88l
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