Push-to-talk Market Will Reach USD 73.0 Billion By 2030
North America Is Dominating Push-to-talk Market
Key Highlights
The push-to-talk market was valued at USD 36.4 billion in 2023, which will rise to USD 73.0 billion, powering at a 10.5% compound annual growth rate, by 2030.
The rising production of ultra-rugged smartphones is because of the surging need for resilient, dependable, and durable mobile devices.
The incorporation of the push-to-talk functionality makes such devices necessary tools for adventurers and authorities facing demanding situations.
With technological improvements, these devices will endure further advancement, delivering even more capabilities and features to cater to the demands of a different user base.
The alignment and standardization of infrastructure platforms provide significant openings for different sectors. A standardized infrastructure platform for PTT is important for flawless interoperability.
This can be because it will enable many makers of PTT devices and systems to smoothly work together.
The rising demand for wireless push-to-talk devices in different industries, including emergency response, corporations, and aerospace & defense, is a major industry driver.
Wireless devices improve total productivity as well as safety by providing end-to-end encryption.
The increasing need for networking devices has opened openings for their software counterparts among smartphone consumers for connecting members and groups.
Market Insights
North America was the largest contributor to the industry in 2023, with approximately 45% share, and it will further advance at a robust rate during this decade.
This can be because the PTT technology has been largely incorporated into the daily processes of businesses in different sectors across this continent.
The expansion of the industrial, commercial, and residential infrastructure and the presence of many major players are also helping the regional industry expansion.
APAC is likely to advance at the fastest rate, of 14%, in the years to come. This can be ascribed to the increasing count of partnerships between major distributors and players and the improvements in the IT infrastructure.
The development of the transport system in developing APAC nations leads to the increasing count of automobiles on the road, lack of communication between drivers, and high traffic density.
The land mobile radio category accounted for the largest share in 2023, of 80%, and it will continue this trend during this decade.
This can be because land mobile radio provides durable hardware, produced to survive various environmental conditions, along with the capability to function efficiently on dedicated radio frequencies.
The hardware category was the largest contributor to the industry in 2023, with a 55% share, and it will continue this trend during this decade.
This is because of the existence of some major firms offering telecommunications hardware globally, including Bell Canada, AT&T Intellectual Property, Wireless Zeta Telecomunicaciones SL, and ESChat.
The solutions category will advance at the fastest rate, of 12%, in the years to come. This can be because of the introduction of innovative solutions by the companies for improved, durable, and reliable PTT devices.
The government & public safety category accounted for the largest share in 2023, of 35%, and it will also advance at a strong rate during this decade. This is because of the increasing need for push-to-talk devices for public safety.
SOURCE: P&S Intelligence