Land Mobile Radio System Market Expected to Reach $43,707 Million by 2022

Land mobile radio system market report, published by Allied Market Research, forecasts that the global market is estimated to reach $43,707 million by 2022, registering a CAGR of 17.1% from 2016 to 2022. In 2015, the portable land mobile radio system dominated the global market, in terms of revenue. North America is expected to be the leading contributor to the global market revenue during the forecast period.

Access Full Summary at: https://www.alliedmarketresearch.com/land-mobile-radio-system-market

The global land mobile radio system market is driven by factors such as increasing awareness of efficient mission critical communication in the defense and emergency response sector. The land mobile radio systems are widely used in various industries such as manufacturing, construction, transportation, mining, and retail. However, dearth of spectrum, limited channel capacities, and stringent government regulations hamper the land mobile radio system industry growth. Furthermore, growing demand for effective communication technologies across emerging countries such as Asia-Pacific and LAMEA with heavy government investments is expected to present numerous opportunities for the land mobile radio system industry growth.

The portable land mobile radio systems accounted for majority of the land mobile radio system market size in 2015, owing to their mobility, ease of operation, and ability to operate in challenging conditions. The portable land mobile radio system market is expected to generate $26,880 million by 2022, registering a CAGR of 18.1%.

The analog land mobile radio system market accounted for the largest share in the global land mobile radio system in 2015, owing to its low cost and intensive applications in non-mission-critical communication. However, the adoption of digital land mobile radio system segment is expected to grow during the forecast period, owing to its high-quality coverage, lower power consumption, log display, integration of customized software applications, and availability of data services. The digital land mobile radio system market is expected to grow at the highest CAGR of 24.9% during the forecast period.

The land mobile radio systems are used by various end users, including defense & public safety, commercial, construction, transportation, and others, to improve efficiency in the commercial sector, and offer emergency services to users during natural disasters & terrorist attacks. In 2015, the defense and public safety sector accounted for the largest share in global land mobile radio system industry, and is estimated to reach $13,885 million by 2022, registering a CAGR of 15.4%. Land mobile radio systems are widely used by defense sector and public safety organizations, as they enhance contextual awareness, improve decision making, accelerate responsiveness, enable emergency first responders to maintain peace, and offer services to citizens.

North America generated the highest revenue in the global market in 2015, accounting for $5,595 million, and is projected to reach $15,674 million by 2022, registering a CAGR of 15.9% during the forecast period. This is attributed to the increasing scope of applications in commercial, government, construction, and transportation sectors in the region. Increasing inflow of investment in the defense sector coupled with technological advancements in the telecommunication industry has boosted the market growth in this region.

Key Findings of the Land Mobile Radio System Market :

• In 2015, portable land mobile radio system market accounted for the major share in the global market, in terms of revenue, and is projected to grow at a CAGR of 18.1% during the forecast period.
• The analog land mobile radio system market accounted for the highest share of around 60% in the global market in 2015.
• In 2015, North America generated the highest revenue in the market, accounting for around 39% of share in the global market.
• Asia-Pacific is expected to grow at the highest CAGR of 18.7% from 2016 to 2022.

The renowned companies profiled in the report include Airbus DS Communications, Motorola Solutions Inc., Harris Corporation, Thales Group S.A., JVC Kenwood Corporation, Raytheon Company, Cassadian Communications, Inc., Cartel Communication Systems, TE Connectivity Ltd, and RELM Wireless Corporation. These companies have consistently launched new products and introduced novel technologies to cater to the needs and requirements of consumers. A significant increase in inflow of investments was observed for R&D activities among private and public organizations to facilitate product innovation and development of customized solutions.