Portland, OR, Dec. 02, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global push to talk over cellular market was pegged at $3.43 billion in 2019 and is estimated to hit $6.95 billion by 2027, registering a CAGR of 9.4% from 2020 to 2027. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and changing market trends.
Deployment of LTE network, increase in the number of Internet users across the world, and the proliferation of mobile devices drive the growth of the global push-to-talk over cellular market. On the other hand, the presence of latency and gaps in communication impedes the growth to some extent. Nevertheless, deployment of next-generation 5G network is anticipated to create lucrative opportunities in the coming years.
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Covid-19 scenario-
- The outbreak of Covid-19 led to increasing demand for push to talk over cellular devices, as they were extensively being used by the government and disaster management agencies in hotspots for communication.
- The demand growth is expected to continue even post pandemic, as these devices let people communicate without coming in physical touch, thereby allowing the management services adhering to the norm of social distancing.
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The global push to talk over cellular market is analyzed across component, application, and region. Based on component, the equipment segment accounted for more than three-fifths of the total market share in 2018 and is expected to rule the roost by the end of 2027. The services segment, on the other hand, would register the fastest CAGR of 11.5% during the forecast period.
Based on application, the public safety & security segment contributed to more than one-fourth of the total market revenue in 2018 and is projected to lead the trail by 2027. Simultaneously, the transportation & logistics segment would exhibit the the fastest CAGR of 11.9% throughout the forecast period.
Based on geography, North America held the major share in 2018, generating more than one-third of the global market. At the same time, Asia-Pacific would showcase the fastest CAGR of 10.5% by 2027. The other two regions covered the report include Europe and LAMEA.
The leading market players analyzed in the global push to talk over cellular market report include Qualcomm Technologies, Inc., Verizon Communications, Motorola Solutions, Inc., Kyocera Corporation, AT&T, Inc., Sonim Technologies Inc., Mobile Tornado, Bell Canada, Sprint Corporation, and Simoco Wireless Solutions.These market players have adopted different strategies including partnership, expansion, collaboration, joint ventures, and others to reinforce their status in the industry.
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