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The global Push-To-Talk (PTT) market size, which was valued at US$ 26.8 Bn in 2017, is projected to reach US$ 45.54 Bn by the end of 2025, exhibiting a CAGR of 7.0%.
Public safety organizations of several countries across the globe are adopting push-to-talk technology due to its innovative features and advantages. Also, as people are getting indulged with the usage of cellular phones across the globe, the demand for new technologies related to smartphone technology has increased.
Nowadays, many smartphone manufacturing companies are providing various innovative technologies and features to their customers such as larger displays, battery back-up, multi-media storage, enhanced communication systems, and many more. Smartphone manufacturers are now focused on manufacturing their products that are specifically designed for push-to-talk over cellular (PoC) technology. Also, the rising interest of public safety organizations in the upgraded push-to-talk technology and features is expected to drive the push-to-talk market in the forecast period of 2018-2025.
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"Increasing penetration of land mobile radio (LMR) systems"
Land mobile radio (LMR) is a device that helps in communicating via voice process from person-to-person or person-to-group or group-to-group. Generally, LMR is of two types, public land mobile radio and private land mobile radio. Of these, the adoption of public land mobile radio is more than private land mobile radio systems, owing to its rapid adoption by public safety organizations, such as fire department, police department, ambulance services, military and defense, and many others. These are the prominent factors that are driving the market in many developed and developing countries. Also, improved penetration of communication technology in developing countries such as India and the Middle East and Africa are expected to boost the market with a remarkable CAGR during the forecast period, 2018-2025.
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In terms of component, the hardware sub-segment is likely to be the fastest-growing segment for the forecast period, owing to the adoption of good quality push-to-talk devices with inventive technologies. This factor will, in, turn aid the push-to-talk market revenue. Push-To-Talk technology is also complemented by the software and services provided by multiple companies. Moreover, software companies are developing innovative applications with multiple features, by which customers can get an enhanced and reliable device.
"Improved Communication Infrastructure and the Safety of Population Enables the Market to Hold the Highest CAGR in Asia Pacific"
The market in Asia Pacific generated revenue of US$ 2.91 Bn in 2017 and is projected to hold a prominent CAGR in the global market during the forecast period. The push-to-talk market growth in the region is likely to be driven by increasing collaborations between key players & distributors and revised environmental laws in Asia Pacific. Also, developing countries such as India and China are working continuously in the public security sector, which includes public safety organizations such as fire, police, para-military, defence, ambulance services, and many others. Besides Asia Pacific, the market in North America is also expected to expand at a relatively higher CAGR during 2018-2025 owing to the national security reasons and health-related policies.
Europe Push-To-Talk Market, 2017
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"Focus on product innovation Strategy"
As technology is upgrading., push-to-talk solutions are becoming more effective and versatile. Companies are focused on developing and manufacturing flexible, efficient, and innovative PTT devices. Companies such as AT&T, Motorola Solutions, Sprint Corporation, and many others are working continuously on providing fast and accurate voice processing systems by deploying enhanced Internet services.
For instance, the company named AT&T has planned to manufacture new PTT devices, which will meet the functionality and performance standards of 3GPP (3rd Generation Partnership Project) for mission-critical push-to-talk (MCPTT). 3GPP is an organization, which develops protocols for mobile telephony. With the help of new standards, the company can focus on the development of efficient PTT devices.
There are many players that provide PTT devices to customers such as Qualcomm Technologies, Inc., Verizon, Motorola Solutions, Kyocera Corporation, Mobile Tornado, Sprint Corporation, Bell Canada, Simoco Wireless Solutions, Sonim Technologies Inc., and Telo Systems.
The push-to-talk (PTT) technology has changed the process of communicating from person-to-person, from person-to-group, and from group-to-group. PTT devices are easy to handle, convenient while using, and secure and reliable. These are the primary factors driving the global market.
The report provides qualitative and quantitative insights on the push-to-talk industry and detailed analysis of the push-to-talk market size and growth rate for all possible segments in the market. The market is segmented as per network, component, application, and by region. On the basis of network, the global market is categorized into PoC (push-to-talk over cellular) and LMR (land mobile radio).
Based on the component, the global market is segmented into hardware, software, and services. On the basis of application, the market is segmented into public safety & security, transportation & logistics, manufacturing & construction, travel & hospitality, defence, and utilities & others. By region, the global PTT market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The regions are further categorized into countries.
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Along with this, the report provides an elaborative analysis of the PTT market dynamics and competitive landscape. The report also provides insights into the recent industry developments such as mergers & acquisitions, the impact of LTE network evolution, macro and microeconomic factors, and key industry trends and developments.
· Public Safety & Security
· Transportation & Logistics
· Manufacturing & Construction
· Travel & Hospitality
· Utilities & Others
· North America (USA and Canada)
· Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
· Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
· Latin America (Brazil, Mexico and Rest of Latin America)
· Middle East & Africa (South Africa, GCC and Rest of Middle East & Africa)
Fortune Business Insights says that the value of the global Push-to-talk Market was US$ 26.8 Bn in 2017
The Push-to-talk Market is projected to reach US$ 45.54 Bn by 2025
The Push-to-talk Market will grow at the rate of 7% CAGR