Pune, India, April 09, 2019 (GLOBE NEWSWIRE) -- Market Research Future (MRFR) in its latest report projects that the global land mobile radio system market will grow at a compound annual growth rate (CAGR) of 10.69% from 2018 to 2023. Towards the end of the assessment period, the market is expected to surpass a valuation of USD 11,000 Mn. The growing concerns over public safety and need to secure wireless communication mediums is boosting the demand for LMRS. Factors such as urbanization, development of public infrastructure and introduction of emergency services are driving the growth of the global land mobile radio system market. Moreover, the LMRS demand is rising due to its increased popularity in gated communities with manned guarding. The equipment is extremely popular among agencies that provide security and surveillance services. Manufacturers are focusing on improving product efficiency to meet the security and communication requirements.
Market Segmentation:
The segmental analysis offered in the report covers LMRS type, LMRS applications LMRS technology.
By type, the land mobile radio system market has been segmented into portable and vehicle-mounted. The portable segment is poised to exhibit an impressive growth during the assessment period. Portable LMRS is extremely efficient, which is driving its popularity. The equipment can be used in difficult conditions and in various emergency situations. Modern portable LMRS has exceptional audio clarity and impressive battery life - attributes which are preferred by end-users. Vehicle-mounted LMRS are more common among first respondent agencies, government agencies, and military. They are also used by construction teams and transportation fleets. Such factors will continue to fuel the demand for Land mobile radio system in the forthcoming years.
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By application, the land mobile radio system market has been segmented into commercial and public safety. In terms of revenue, the public safety segment is expected to represent a higher share during the assessment period. A strong demand for LMRS from public safety agencies is supporting the segment’s growth. LMRS is key equipment for public safety agencies as the equipment facilitates better communication during critical missions and secure transmission of sensitive data. The commercial applications segment is also expected to witness healthy growth in the years to come. Development new commercial real-estate such as public parks, malls, resorts and other public infrastructure is evoking demand for LMRS.
By technologies, the land mobile radio system market has been segmented into analog and digital. The digital segment is likely to remain highly attractive during the assessment period. Digital radios are technologically superior as compared to analog. They can be easily integrated with the latest communication networking module, which is difficult to achieve with analog LMRS. This bodes well for the digital segment. For analog LMRS, market opportunities are expected to remain limited in the forthcoming years. Commercial interest in outdated versions of LMRS remains negligible. Analog LMRSs’ are losing market to digital LMRS and the trend is likely to continue throughout the forecast period.
North America to Dominate the Global Land Mobile Radio System Market Over 2023
The regional analysis of the Land Mobile Radio System Market covers Asia Pacific (APAC), North America, the Middle East, Africa, Europe and Latin America. Of these, the North America currently accounts for the largest market share and this trend is expected to continue over the next several years. The region boasts an impressive market for LMRS. Sales of LMRS have swelled up in the U.S. Canada and Mexico in the wake of increased incidences of atrocity, natural disaster and criminal activity. LMRS are an important tool for forces that maintain law and order in the state and manage natural disasters.
The land mobile radio system market in APAC is also expected to witness a strong growth during the forecast period. Fast-growing economies in the region are supporting the market growth. Countries such as China and India are expected to remain hotspots for market players. Improving communication infrastructure coupled with the faster adoption of advanced digital communication technologies is reflecting favorably on the land mobile radio system market in the region.
Competition Tracking
Some of the leading players operating in the global land mobile radio system market include Harris Corporation (U.S.), RELM Wireless Corporation (U.S.), Simoco Wireless Solutions Limited (U.K.), Leonardo S.p.A. (Italy), Tait Ltd. (New Zealand), Motorola Solutions, Inc. (U.S.), Thales Group (France), JVC Kenwood Corporation (Japan), ICOM Inc. (Japan) and Hytera Communications Corporation Ltd. (China).
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Latest Industry News:
Sierra wireless recently got clearance for integration of its AirLink MG90 High-Performance Multi-Network Vehicle Router with UK’s Emergency Services Network (ESN). This is expected to help agencies in the U.K. give a secure and effective emergency response.
British multinational defence, security, and aerospace company BAE Systems recently introduced its new general software-defined radio assembly for high-reliability commercial and Department of Defense space applications.
Motorola Solutions has launched a new CBRS-based system (MOTOTRBO Nitro) that supports voice data delivery and data to enterprise customers. MOTOTRBO Nitro is a wholly managed system that will use LTE technology to deliver broadband data solutions and business-critical voice to enterprises.
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