Walkie Talkie Market Size, Research Report, Types, Technology, Application and Region Forecast to 2027
Industry Insight
While the year of 2020 is an extremely eventful for walkie talkie market due to COVID-19 breakthrough, the global Walkie Talkie market 2020 is showing some positive instincts, when studied by Market Research Future. As per COVID-19 impact analysis, the market has the potential to show immense growth, which is recorded at a rate of 10.14% and is capable of reaching a valuation of USD 4,884.6 Million by 2025. The growth period has been estimated from the years 2017 to 2023.
Top Impacting Factors
Several companies in the Walkie Talkie Market Size are vying suggestive steps to tackle the challenges resulting from the COVID-19 (Coronavirus) pandemic. In-depth research about COVID-19 is providing current techniques and alternative methods to mitigate the impact on Coronavirus on the revenue of the Walkie Talkie market. Walkie Talkie is a cheap & effective medium of communication and is convenient for short-distance communication. Walkie Talkie is gathering much populace, especially in a coronavirus disease outbreak, owing to which the device is now being widely adopted by assorted security agencies, police, and defense and military, thus resulting in an increase in adoption of walkie talkie in the various application sector. This has been one of the major factors driving the growth of the Walkie Talkie Market Size.
The development of armed forces owing to mounting internal and external tension is probable to lead the growth of the walkie talkie market in the foreseeable future. Besides, the technological developments incorporated with the product by key players are further poised to boost the walkie-talkie market in the future. Residential applications from the product are also estimated to motivate the market's proliferation across the forecast period. The crippling effect of the global COVID-19 pandemic has apprehended the growth potential of the Walkie Talkie Market. Some critical pointers emerged as growth hubs in the future.
The global Walkie Talkie industry is characterized by several giant international manufacturers and many smaller regional manufactures. The two leading operators acquired 22.75 % of total industry revenue back in the year 2016. Superior companies are looking to expand their footprint in the industry, which has marked the market's driving force. Some of the renowned market players are JVCKENWOOD, Motorola, Hytera, Icom, Tait, Sepura, Yaesu, Cobra, Entel Group, and Uniden.
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Top Market Players
The top market players profiled by MRFR that are working in the global walkie talkie market are Hytera Communications, Motorola Solutions, JVCKENWOOD, ICOM, Shenzhen HQT Science and Technology, Tait Communications, Cobra Electronics, Abel, Uniden, Kirisun Communications, Wintec.
Segmentation of Market: Walkie Talkie
The global walkie talkie market has been studied among the segments of product type and application.
In terms of product type segment, the walkie talkie market has included analog walkie talkie and digital walkie talkie.
In terms of application segment, the walkie talkie market has included commercial, government and public safety, home security and industry and commerce. The commercial segment has been sub-segmented among retail stores and shopping malls.
Regional Analysis
Regionally, the global walkie talkie market has been studied for significant regions such as Europe, North America, Asia Pacific, and the rest of the world.
The North America region guidelines for the significant share in the global walkie talkie market owing to the existence of leading manufacturers of walkie talkie, incorporation of technologically advanced features such as global positioning system, data tracking, emergency alarm and rise in demand for portable communication devices for enhancing the security services in this region.
The escalating demand for encrypted communication devices in the military and defense sectors and surveillance projects in India and China's promising economies are propelling the growth of the walkie talkie market in the Asia Pacific region. Improved manufacturing of these devices in the Asia Pacific region owing to the availability of cheap raw materials and skilled workforce and rise in reputation of walkie talkie for entertainment purposes are also fueling the growth of the walkie talkie market in this region. An elevated demand for advanced electronic security devices in schools, the defense sector, offices, and others are fueling the growth of the walkie talkie market in the Europe region.
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