The global walkie talkie market was valued at $3.2 billion in 2020, and is projected to reach $7.3 billion by 2030, registering a CAGR of 8.8% from 2021 to 2030.
Walkie-Talkie is a terminal device used for communication purpose. These devices are not restricted by the network and thus, allow users to communicate easily where the network is not covered. There are two types of walkie talkies available in the market, namely, analog, and digital. Additionally, these walkie talkies are easily available through various sales channel including online sales channel, and offline sales channels such as majorly business to business sales channel.
Additionally, The end users are focusing toward walkie talkie embedded with new advanced technology. Thus, walkie talkie manufacturers are launching new innovative walkie talkie infused with IoT (Internet of Things) such as wearable digital walkie talkie and manufacturers are also incorporating new features in walkie talkie to remain competitive in the market. Thus, such factors contribute to growth of the walkie talkie market, in terms of value sales.
Covid-19 Impact Analysis
- The outbreak of the COVID-19 pandemic has shown a slightly negative impact on the market.
- The declaration during the COVID-19 outbreak regarding the shutdown of notable proportion of the hospitality industry, airports, has hampered the sale of walkie talkie across the world.
- Additionally, strict lockdown forced manufacturers to cut down their production output, halting the production facilities. This in turn has also hampered the growth of the walkie talkie market in the year 2020.
- However, the Walkie Talkie market is rapidly returning to its normal stage, countersigning a steady increasing demand, majorly from the industrial sectors.
The global walkie talkie market segments are categorized into product type, end user, distribution channel, and region. By product type, it is classified into analog and digital. By end user, it is divided into residential and commercial. On the basis of distribution channel, the market is segregated into online channel and offline channel. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and rest of Europe), Asia-Pacific (China, India, Australia & New Zealand, Japan, South Korea, ASEAN, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, Turkey and Rest of LAMEA).
By product type, the analog segment accounted for the highest walkie talkie market share in 2020 and is expected to remain its dominance during the forecast period. This is majorly because analog walkie talkies are available at cheaper price over digital walkie talkie which is the key driver for its sales among the users such as event management, big hotels & resorts, and others.
By Product Type
The Analog segment dominates the global walkie talkie market and is expected to retain its dominance throughout the forecast period.
By end user, the market is divided into residential, and commercial. In 2020, the commercial segment accounted for the highest walkie talkie market share in the global walkie talkie market. This is attributable to the rising adoption of walkie talkie in big hotels & resorts, event management firms and rising spending by governments and public safety agencies on communication devices including walkie talkie.
By End Use
The Commercial segment dominates the global walkie talkie market and is expected to retain its dominance throughout the forecast period.
By distribution channel, the market is divided into online channel and offline channel. In 2020, the offline channel segment accounted for the highest market share in the global walkie talkie market. This is majorly attributable to the heavy discounts offered by the B2B sales channels to the commercial users on their bulk purchase that boosts the sale of walkie talkie through B2B sales channels across the globe, which notably contributes toward the growth of the overall market. However online store is expected to be the fastest growing segment during the forecast period in terms of value sales.
By Distribution Channel
The Offline Channel segment dominates the global walkie talkie market and is expected to retain its dominance throughout the forecast period.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest market share in 2020. The North America walkie talkie market dominated the use of walkie talkie, owing to the rising spending by government on devices like walkie talkie for security purpose which, in turn, drives demand for walkie talkies in this region. However, Asia-Pacific is expected to be the fastest growing segment during the walkie talkie forecast period.
By Regions
The North America segment dominates the global walkie talkie market and is expected to retain its dominance throughout the forecast period.
Key players operating in the global walkie talkie market focus on prominent strategies to overcome competition and maintain as well as improve their share worldwide. Some of the major players in the global industry analyzed in this report include Entel Group Hongkong Retevis Trade Co., Ltd., Hytera Communications Corporation Limited, Icom Inc., JVCKENWOOD USA Corporation, Kirisun Communication Co., Ltd, Motorola Solution, Inc., Shenzhen HQT Science & Technology Co., Ltd., Tait Communications and Uniden Holdings Corporation.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the current walkie talkie market trends, estimations, and dynamics of the market for the period of 2020–2030 to identify the prevailing market opportunities.
- The key countries in four major regions have been mapped based on their market share.
- Porter’s five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier–buyer network.
- In-depth analysis of the market segmentation assists to determine the prevailing walkie talkie market opportunities.
- Major countries in each region have been mapped according to their revenue contribution to the global industry.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of market players.
- The report includes both regional as well as global the walkie talkie market analysis, key players, market segments, application areas, and walkie talkie market growth strategies.
Key Market Segments
By Product type
- Analog
- Digital
By End Use
- Residential
- Commercial
By Distribution Channel
- Offline Channel
- Online Channel
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Russia
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia and New Zealand
- South Korea
- ASEAN
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- South Africa
- Turkey
- Rest of LAMEA
Walkie Talkie Market Report Highlights
| Aspects | Details |
 By PRODUCT TYPE |
|
 By END USER |
|
 By DISTRIBUTION CHANNEL |
|
 By Region |
|
 Key Market Players | SHENZHEN HQT SCIENCE & TECHNOLOGY CO., LTD., ENTEL GROUP, UNIDEN HOLDINGS CORPORATION, MOTROLA SOULTIONS, INC., JVCKENWOOD USA CORPORATION, ICOM INC., HONGKONG RETEVIS TRADE CO., LTD, KIRISUN COMMUNICATION CO., LTD, TAIT COMMUNICATIONS, HYTERA COMMUNICATIONS CORPORATION LIMITED |
Analyst Review
Key market players operating in the walkie talkie market have adopted key developmental strategies such as product launch to fuel demand for walkie talkie in the market, in terms of value sales. In addition, they have also emphasized on continuous innovations in their products to maintain a strong foothold in the market and to boost the walkie talkie demand globally. In addition, to cater to the rising needs of the hospitality industry, defense sector, airports, luxury hotels & resorts and other, manufacturers are continuously developing innovative walkie talkie to bolster the sales.
According to the key market players, adoption of IoT and advanced technologies in walkie talkie enables to offer advance functions like hands free operations, better coverage and others. All these benefits offered by walkie talkie promotes their use among consumers. Moreover, the rising adoption of wearable digital walkie talkie among the users across the globe is expected to offer a huge opportunity for the growth of the overall market in terms of value sales.
However, the range and bandwidth limitation, is projected to hamper growth of the walkie talkie market during the forecast period.
The global walkie talkie market was valued at is projected to reach $7.3 billion by 2030.
The global walkie talkie market is projected to register a CAGR of 8.8% from 2021 to 2030.
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The global walkie talkie market segments are categorized into product type, end user, distribution channel, and region
The top players analyzed in this report are Entel Group, Hongkong Retevis, Hytera Communications, Icom , JVCKENWOOD, Kirisun Communication, Motorola Solution, Shenzhen HQT Science & Technology, Tait Communications and Uniden Holdings Corporation.
North America holds the maximum market share in the walkie talkie market.
Asia-Pacific is expected to be the top investment pocket in the walkie talkie market during the forecast period.
The Walkie Talkie market is rapidly returning to its normal stage, countersigning a steady increasing demand, majorly from the industrial sectors
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