by The global Terrestrial Trunked Radio Market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Terrestrial Trunked Radio (TTR) is a cellular two-way radio communications system used by public safety agencies, commercial organizations and businesses. It provides secure and reliable communication between individuals or groups, through communication with several sites or repeaters. TTR systems enable improved capacity and efficiency over earlier methods, by offering integrated data and voice communications. They support features like push-to-talk and advanced technologies such as text messaging, GPS, and telemetry applications. With enhanced safety features and ability to provide high-quality communication even in remote locations, TTR networks are becoming increasingly important for industries dealing with emergencies.
Market key trends:
The terrestrial trunked radio market is witnessing increasing adoption of digital technologies. Growing usage of Long Term Evolution (LTE) and broadband technologies for data transmission is augmenting the demand for IP-enabled TTR systems. Integration of TTR with broadband capabilities enables transmission of both voice and data, improving interoperability and performance. Furthermore, rise of machine-to-machine (M2M) communication is fueling deployment of TTR networks for managing critical infrastructure and industrial applications. Ongoing upgrades of existing TTR infrastructure to new digital standards like DMR and P25 are further presenting remunerative opportunities over the forecast period.
Porter’s Analysis:
Threat of new entrants: The threat of new entrants in the terrestrial trunked radio market is low. Capable firms need to invest significantly in infrastructure and secure spectrum access rights.
Bargaining power of buyers: The bargaining power of buyers in the terrestrial trunked radio market is moderate. Buyers have sufficient providers and product options to choose from.
Bargaining power of suppliers: The bargaining power of suppliers in the terrestrial trunked radio market is low to moderate. While some key components have specialized suppliers, many parts are available from a variety of suppliers globally.
Threat of new substitutes: The threat of new substitutes for terrestrial trunked radios is low to moderate. Advanced digital cellular networks provide an alternative, though lack ruggedness and flexibility for some applications.
Competitive rivalry: Rivalry in the terrestrial trunked radio industry is high due to the presence of several global players. Market participants compete based on features, reliability, coverage, and services.
Key Takeaways
The Global Terrestrial Trunked Radio Market Size is expected to witness high growth, exhibiting CAGR of 9.3% over the forecast period, due to increasing demand from public safety organizations and commercial enterprises.
North America is expected to dominate the terrestrial trunked radio market, supported by rising spending on public communication infrastructure projects in the region. Asia Pacific is likely to be the fastest growing market, driven by infrastructure development and upgrading of public communication networks in countries such as China and India.
Key players operating in the terrestrial trunked radio market are Motorola Solutions, JVCKENWOOD, Hytera Communications, Sepura, Simoco Wireless Solutions, Tait Communications, Codan Radio Communications, Cisco Systems, Harris Corporation, PowerTrunk. These firms have robust R&D capabilities and wide distribution networks to strengthen their positions in the global market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
