Land Mobile Radio Market worth $28.50 billion by 2029 at a CAGR of 10.1%

(IT-NEWSWIRE.COM, October 01, 2024 ) The land mobile radio market is projected to grow from USD 17.60 billion in 2024 and is expected to reach USD 28.50 billion by 2029, growing at a CAGR of 10.1% from 2024 to 2029. Initially land mobile radio system was based on analog voice service and grew to digital capabilities that produced group calls, very short voice call initiation times, high-quality audio transmission and ultimate priority access to the end user. With the crime rates soaring high, and acts of terrorism increasing, it is important for public safety and commercial sectors to adopt new technologies which would help them act promptly when there is need. For public safety responders who have to remain in touch with one another at command centre and also need real-time information on situations when responding to emergencies, effective communication is essential.

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Land mobile radio are being used in various industries such as military & defense, mining, retail, home security among others. As far the application is concerned, the public safety segment is expected to take the biggest share of land mobile radio market due to the increased government spending on security agencies infrastructure, which has also led to the rise of military & defense sector. Also, these segments receive a boost from the need for real-time information as well as improved situational awareness.

The hand portable radio segment is expected to hold the largest market share during the forecast period. The demand for these systems is increasing because of the rising global need for communication gadgets that are small, light, and easy to handle especially in sectors of public safety and commerce. Portable radios have flexibility as well as mobility that makes it suitable in numerous operations outside the office. Moreover, improvements in battery life and robustness continue to fuel their consumption.

North America is expected to dominate the land mobile radio market during the forecast period, driven by advanced communication technologies in the region which are being fostered by strong government support as well as investments in public safety and emergency services. Furthermore, the presence of major market players has contributed significantly to this growth. Leading companies such as Motorola Solutions, Inc. (US), L3Harris Technologies, Inc. (US), and BK Technologies (US) are pivotal in driving this market in North America.

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Key Market Players

Major players in this market ecosystem are Sepura Limited (UK), Motorola Solutions, Inc. (US), L3Harris Technologies, Inc. (US), JVCKENWOOD Corporation (Japan), Thales (France), Icom Inc. (Japan), BK Technologies (US), Hytera Communications Corporation Limited (China), Leonardo S.p.A. (Italy), and Codan Limited (Australia) among others. The market players have availed opportunities like indulging in partnerships and acquisitions. Product development and expansion were a few other key strategies adopted by companies to strengthen their market position.

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Land Mobile Radio Market worth $28.50 billion by 2029 at a CAGR of 10.1%