Walkie Talkie Market Synopsis:
Walkie talkie, formally well-known as HT or handheld transceiver, is a two-way radio transceiver. It was first developed during the world war and has been witnessing technological developments since then. In recent times, according to Market Research Future (MRFR)’s report, the global walkie talkie market is expected to exhibit healthy growth. The report reveals that the global market is expected to mark 9.47% CAGR during the review period 2017 to 2023. Also, the valuation of revenue earned by the market is projected to exceed USD 16 Bn mark by 2023.
The product has found a core application in law enforcement. It is widely in demand for security purposes. This, in turn, is expected to drive the growth of the global walkie talkie market in the years to come. It is an effective medium of communication for short distances and is used by armed forces all over the world.
The expansion of armed forces owing to increasing internal and external tension is projected to lead the growth of the walkie talkie market in the foreseeable future. In addition, the technological developments integrated with the product by key players are further poised to boost the growth rate of the walkie talkie market in the nearby future. Residential applications of the product are also projected to drive the proliferation of the market across the forecast period.
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Walkie Talkie Market Competitive Dashboard:
Motorola Solutions, JVCKENWOOD, ICOM, Hytera Communications, Tait Communications, Cobra Electronics, Abel, Kirisun Communications, Uniden, Shenzhen HQT Science and Technology, and Wintec are the prominent players of the global walkie talkie market.
The competitive landscape of the global market is characterized by the presence of domestic as well as international brands. In addition, new players are prognosticated to enter the market over the next couple of years. It is expected to further intensify the competition in the walkie talkie market. The key players, in order to capture larger fraction of market share, are projected to opt for strategies such as research & development, pricing policies, innovations, acquisitions, mergers, and strategic alliances, among others.
Walkie Talkie Market Segmentation:
- By product type, the global walkie talkie market has been divided into analog walkie talkie and digital walkie talkie.
- By Application, the global walkie talkie market has been segmented into government and public safety, industry and commerce, commercial (retail stores, shopping malls), and others (home security, etc.)
Walkie Talkie Market Regional Analysis:
This MRFR analysis offers an in-depth geographical evaluation of the global walkie talkie market that encompasses four regional segments – North America, Asia Pacific (APAC), Europe, and the Rest of the World (RoW). These regions are further assessed in detail on the basis of key country-level markets present. Among these, the walkie talkie market in North America is anticipated to lead the growth over the next couple of years. The U.S. and Canada are the important country-level markets of the region. The presence of key players is expected to river the proliferation of the regional market in the coming years. Innovative product launches are further anticipated to contribute to the development of the walkie talkie market in the region.
Asia Pacific is assessed to register the highest CAGR owing to the consolidation of key players in China, South Korea, etc. The regional walkie talkie market is likely to witness rapid developments over the next couple of years.
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