ALBANY, New York, November 1, 2018 /PRNewswire/ --
The vendor landscape of the global terrestrial trunked radio market is moderately concentrated as a number of regional, domestic, and international players offer products and services of the same kinds. Thus the market has become competitive and the increased level of competition is compelling companies to focus on introducing differentiated services in areas such as critical communication and public safety to stay ahead of their peers. Companies are also focusing on geographical expansion opportunities so as to benefit from new set of growth opportunities in untapped regional markets. Case in point is the acquisition of Sepura Gropup Plc. by Hytera Communications in 2017, which is an attempt by Hytera to gain strength in the European market.
Some of the leading players in the global TETRA market are Airbus Defense and Space Oy, Motorola Solutions, ROHILL Engineering B.V., Simoco Wireless Solutions, Damm Cellular Systems A/S, Hytera Communications, Rolta India Limited, and Leonardo.
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According to the report, the global terrestrial trunked radio market will exhibit an impressive CAGR of 11.97% over the period between 2017 and 2025, rising to a valuation of US$12,166.7 mn by 2025. Based on the key applications of terrestrial trunked radio, the public safety segment presently accounts for the dominant share in the overall market and is also likely to hold a notable share in the market's revenue pie over the report's forecast period. In terms of component, the hardware segment is likely to account for a nearly 44% of the market by the end of the report's forecast period. Geographically, the market in Asia Pacific is likely to present a highly lucrative set of growth opportunities over the report's forecast period.
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Increased Demand for Foolproof Communication in Public Safety Sector to Drive Market
The global terrestrial trunked radio market has significantly benefitted over the years owing to the increased demand for reliable communication systems that can provide a foolproof way of transmitting mission-control critical information in a seamless manner. This is especially true for homeland security and public safety operations across areas such as utility, police, and fire prevention. As countries divert increased funds towards these sectors, the demand for TETRA networks is also likely to increase owing to the proven benefits of TETRA networks over conventional analog professional mobile radio networks in terms of voice quality, security, cost, and RF coverage.
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Rising Deployment in International Public Spectacles to Help Market Expand Steadily
The global terrestrial trunked radio market is also benefitting from the increased deployment of TETRA networks for public security applications across a number of countries. The 2016 Rio Olympics also used TETRA communication services. The services were provided by Teltronic, which is a subsidiary of Hytera Communications Corporation Limited. The company used a TETRA network to enable secure communications around the region with the help of approximately 18,000 police radios. A dedicated TETRA network was also employed to enable secure communications for the 2017 FIFA Confederation Cup. This increase in use of TETRA radios and base stations across the globe will help the global terrestrial trunked radio market evolve at an impressive pace in the next few years.
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This analysis of the global terrestrial trunked radio market is based on a recent market research report by Transparency Market Research, titled "Terrestrial Trunked Radio (TETRA) Market (Application - Transportation & Logistics, Aviation, Oil & Gas, and Public Safety; Component - Hardware, Software, and Services; Device Type - Portable and Vehicular) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017-2025."
For the study, the market has been segmented as follows:
Global TETRA Market, by Application
- Transportation & Logistics
- Oil & Gas
- Public Safety
Global TETRA Market, by Components
Global TETRA Market, by Device Type
Global TETRA Market, By Geography
- North America
- The U.S.
- Rest of North America
- The U.K
- Rest of Europe
- Asia Pacific (APAC)
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- South Africa
- Rest of MEA
- South America
- Rest of South America
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