Dublin, Nov. 08, 2022 (GLOBE NEWSWIRE) -- The "Walkie Talkie Global Market Report 2022" report has been added to ResearchAndMarkets.com's offering.
The global walkie talkie market is expected to grow from $5.46 billion in 2021 to $6.08 billion in 2022 at a compound annual growth rate (CAGR) of 11.4%. The walkie talkie market is expected to grow to $9.03 billion in 2026 at a CAGR of 10.4%.
The main types of walkie talkie are wearable walkie talkie device, handheld walkie talkie device. A wearable digital walkie-talkie is a small, battery-operated, and wearable communication device that transmits and receives data. The products for walkie talkie are analog and digital that are distributed on offline channel, online channel. The various applications of walkie talkie are government and police, military and defense, retail and manufacturing, industrial and commercial, security agencies, others.
North America was the largest region in the walkie-talkie market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in walkie-talkie market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The rising budget of security equipment in the residential societies is driving the demand for walkie talkie market. The growing criminal activities across the residential and commercial areas have led to an increase in the budget for security equipment in the residential societies. For instance, according to the article published by Forbes Advisor, American business magazine, in February 2022, the average home security equipment costs in the USA vary from $ 5 (with the purchase of a contract) to more than $ 600 per month.
Furthermore, according to the article published by safewise, unbiased home security reviews company, in January 2021, nearly a third of Americans spent more than $ 600 on home technology this year, which is the same amount as the stimulus payments they received.
Hereby, the rising security concern and investment in security equipment will raise the demand for security equipment such as walkie-talkies for internal communication. Hence, rising budget of security equipment drives the demand for walkie talkie market.
Technological advancements are shaping the walkie talkie market. The manufacturing companies are making huge research and development for their product to meet the market demand and maximum market share. Many companies in the market are launching new and latest products to provide enhanced experience to its customers.
For instance, In August 2021, Motorola Solutions, American video equipment, telecommunications equipment, software, systems and services provider, launched APX NEXT Smart Radio, a next-generation, public safety radio that provides mission-critical voice communications on land-mobile radio (LMR) networks while using broadband networks for data applications.
In March 2019, Motorola Solutions, a US-based company leader in public safety and enterprise security acquired Avtec, Inc for an undisclosed amount. This acquisition of Avtec will add new capabilities to Motorola Solutions' land mobile radio and broadband platforms for both public safety and commercial customers. Avtec, Inc is a US-based telecommunications equipment company.
The countries covered in the walkie-talkie market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Some major players in the walkie talkie market are
- Entel Group
- Hytera Communications
- Icom Inc.
- JVCKENWOOD Corp.
- Kirisun Communication Co. Ltd.
- Motorola Solutions Inc.
- Shenzhen HQT Science And Technology
- Uniden Holdings Corporation
- Tait International Ltd.
- HONGKONG RETEVIS TRADE CO. LTD.
- BK Technologies Inc.
- Hytera Communications Corp. Ltd.
- L3Harris Technologies Inc.
- Thales Group
- Icom America Inc.
- Sepura plc
Key Topics Covered:
1. Executive Summary
2. Walkie Talkie Market Characteristics
3. Walkie Talkie Market Trends And Strategies
4. Impact Of COVID-19 On Walkie Talkie
5. Walkie Talkie Market Size And Growth
5.1. Global Walkie Talkie Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global Walkie Talkie Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. Walkie Talkie Market Segmentation
6.1. Global Walkie Talkie Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Wearable Walkie Talkie Device
- Handheld Walkie Talkie Device
6.2. Global Walkie Talkie Market, Segmentation By Product type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Analog
- Digital
6.3. Global Walkie Talkie Market, Segmentation By Distribution Channel, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Offline Channel
- Online Channel
6.4. Global Walkie Talkie Market, Segmentation By Application , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
- Government And Police
- Military And Defense
- Retail And Manufacturing
- Industrial And Commercial
- Security Agencies
- Other Applications
7. Walkie Talkie Market Regional And Country Analysis
7.1. Global Walkie Talkie Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global Walkie Talkie Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
For more information about this report visit https://www.researchandmarkets.com/r/35kzpg
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