Professional Mobile Radio Market By Technology (Digital, Analog), By Application (Retail, Transportation, Utility, Mining, Military & Defense, Fire Department, Healthcare, and Others), By End-User (Retail, BFSI, Government Sector, Healthcare, Media and Entertainment, Others) – Growth, Future Prospects and Competitive Analysis, 2019 - 2027
Rising Adoption of New Technology for Public Safety Has Increased the Demand for Professional Mobile Radio Market
Globally, the professional mobile radio market is expected to grow with a CAGR of 12.3% during the forecast period from 2019 to 2027 and has a market value of around US$ 16.25 Bn in 2018. Professional mobile radio (PMR) is a wireless system used for communication during emergency services. Public organizations, police departments, fire departments, transportation companies, and others also use these systems. The PMR systems offer various features that allow professionals to perform various tasks simultaneously; for instance, PMR provides features such as group calls, emergency calls, broadcast calls, and others.
Similarly, these systems are convenient communication systems for various enterprises and government organizations. The advancement in technology has led to the development of public and private long-term evolution (LTE) networks with PMR technology. These technologies reduce the response time and provide information in real time. The systems are also used to transmit audio and video data, allowing the emergency departments to gain information about the current situation. Hence, the increasing demand for real-time and reliable communication networks and systems is driving the PMR market.
Market Synopsis
Professional Mobile Radio with Digital in its Technology Segment Continue Dominating the Market
In 2018, the overall PMR market was led by the digital segment in its technology segment, contributing to a high percentage of the market share of the total revenue generated globally in 2018, and is expected to grow with a CAGR of more than 14.5% during the forecast period. The growing requirement for a reliable network by various end-users such as government, military, mining, utility, healthcare, police, and fire departments is one of the factors driving the digital segment. In addition, Digital technology allows the user to send digital information in real-time, which drives the growth of the market.
North America Dominates the Market by Region
The global professional mobile radio market was led by North America, with a market share of more than 40.0% in 2018. North America has well established technological infrastructure. As a result, North America is expected to grow with a CAGR of more than 11.0% during the forecast period. Similarly, the government in the region spends highly on the development of new technology. For instance, after the attack of 9/11, the US government increased security and invested in land communication systems. Additionally, various companies such as Motorola Solutions, Inc., Harris Corporation, and others are contributing to the market's growth.
Some prominent players operating in the professional mobile radio are Motorola Solutions, Inc., Sepura PLC, Harris Corporation, Thales SA, Jvckenwood Corporation, Raytheon Company, Hytera Communications Corporation Limited, RELM Wireless Corporation, Tait Radio Communications, Codan Radio Communication, and Simoco Wireless Solutions.
Historical & Forecast Period
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.
Report Scope by Segments
The professional mobile radio market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global professional mobile radio market based on technology, application, and geography.
Frequently Asked Questions:
The market for Professional Mobile Radio is expected to reach US$ XX Bn by year 2027.
The Professional Mobile Radio market is expected to see significant CAGR growth over the coming years, at 12.3%.
The report is forecasted from 2019-2027.
The base year of this report is 2018.
Sepura PLC, Motorola Solutions, Inc., Thales SA, Raytheon Company, RELM Wireless Corporation, Hytera Communications Corporation Limited are some of the major players in the global market.
