Wilmington, Delaware, United States, July 29, 2022 (GLOBE NEWSWIRE) -- The global land mobile radio (LMR) systems market is prognosticated to register growth at a CAGR of 10.8% during the forecast period 2022-2031, according to a research report by Transparency Market Research (TMR). The report by TMR provides in-depth data and assessment on varied important factors such as the growth drivers, challenges, restraints, and sales projections in professional mobile radio (LMR) systems market.
Players operating in the land mobile radio (LMR) systems market are focusing on the expansion of their product portfolios. Hence, they are seen investing increasingly on R&Ds. Moreover, companies are using the strategies of mergers and acquisitions in order to stay ahead of the competition.
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Land Mobile Radio (LMR) Systems Market: Key Findings
- Land mobile radio (LMR) systems are being increasingly adopted across various places including the theme parks, hotels, manufacturing facilities, warehouses, and public safety agencies such as firefighters, emergency medical services (EMS), and police departments around the world, states TMR research report on professional mobile radio (LMR) systems market. Key factors boosting the adoption of these systems include their ability to offer dependable and fast communication services. Hence, increasing adoption of these systems is propelling the global land mobile radio (LMR) systems market, which is prognosticated to be valued at US$ 81.90 Bn by 2031.
- Over the period of past few years, there has been a rise in the number of varied natural disasters including earthquakes, floods, hurricanes, and landslides. Moreover, the number of workplace mishaps and road accidents are being increasing around the world. These factors have resulted into a burden on different emergency response agencies globally. In the recent years, LMR radio systems are being adopted by such agencies owing to the spectral efficiency and rugged quality of these systems. This factor is fueling the growth opportunities for stakeholders operating in the professional mobile radio (LMR) systems market.
- Organizations from varied end-use industries are inclining toward replacing their existing systems with digital LMRs owing to the ability of these latest devices to offer advanced voice clarity and battery performance. Hence, rise in the adoption of technological advancements across the globe are driving the sales growth in the land mobile radio (LMR) systems market.
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Land Mobile Radio (LMR) Systems Market: Growth Boosters
- Surge in the number of natural disasters across the globe are driving the demand opportunities in the land mobile radio (LMR) systems market
- Increase in focus of organizations on replacing their older LMR systems with digital ones is propelling the market
Land Mobile Radio (LMR) Systems Market: Regional Analysis
- The players in the land mobile radio (LMR) systems market are anticipated to gain sizable growth prospects in North America and Europe owing to factors such as rise in incidences of accidents and natural disasters in the regions and increase in the adoption of digital technologies across military & defense, public safety, utility, logistics & transportation, construction, building maintenance, manufacturing, and mining industries
- The Asia Pacific is fastest growing market for professional mobile radio (LMR) systems manufacturers as the LMR systems are being increasingly utilized during natural calamities including earthquakes, workplace accidents, and floods
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Land Mobile Radio (LMR) Systems Market: Key Players
Some of the key players profiled in the report are:
- Anritsu
- Motorola Solutions, Inc.
- L3Harris Technologies, Inc.
- Leonardo USA
- JVCKENWOOD Corporation
- Simoco Wireless Solutions
- BK Technologies (RELM Wireless Corporation)
- Thales
- Tait Communications
- Hytera Communications Corporation Limited
- Triple C Communications, Inc.
- Sepura Limited
Land Mobile Radio (LMR) Systems Market Segmentation
- By Product Type
- Handheld
- Vehicle Mounted
- Fixed Base
- By Technology
- Analog
- Digital
- By End-use Industry
- Public Safety
- Military & Defense
- Logistics & Transportation
- Utility
- Others
- Regions Covered
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
- South America
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