Pune, India, Aug. 01, 2023 (GLOBE NEWSWIRE) -- According to our latest study on “General Mobile Radio Service (GMRS) Radio Market Size Report, Forecast to 2030 – COVID-19 Impact and Global Analysis – by Type and Application,” the market was valued at US$ 131.00 million in 2022, and it is expected to reach US$ 162.88 million by 2030; it is estimated to record a CAGR of 2.9% from 2023 to 2030. Safety and better communication in non-mobile network zone fuel its demand for hiking activities, thereby contributing to the global market growth.
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Growing Popularity of Off-Road Activities to Provide Lucrative Opportunities for GMRS Radio Market Growth During Forecast Period:
In the US, handled and In-Vehicle GMRS radios are used for different applications such as Off-Road, recreational, and agriculture. GMRS radios are widely used in Off-Road activities and competitions for efficient communication among Off-Road enthusiasts, team members, and competition authorities. In addition, there is a rise in outdoor recreational activities such as camping, hiking, and skiing. For instance, according to National Ski Areas Association (NSAA), American ski resorts reported 64.7 million visits during the 2022–2023 season, a 6.6% increase over the previous year. This increase can be attributed to heavy snowfall and a rise in demand for outdoor recreation post-pandemic. The increase in visitors demands GMRS radios for better communication among groups, individuals, and coordinators. Thus, the rise in outdoor recreational activities propels the GMRS radio market in the US.
Off-Road activity is riding or driving a vehicle on sand, gravel, riverbeds, mud, snow, rocks, and other natural terrains. People engage in off-road activities as leisure activities with unmodified vehicles or for competitions with customized vehicles. These activities generally take place in areas such as high mountain regions where mobile network communication is either not possible or not clear due to the availability of fewer network towers. Thus, GMRS radios are widely used during Off-Road activities for reliable communications. In addition, it is a suitable option to summon help in emergencies such as medical needs and mechanical failure of the vehicle when cell phone service is unavailable. Compared to FRS radios, they provide an extended range of communication with higher powered signal capability and a generally clearer signal, which is contributing to their adoption for Off-Road activities and propelling the GMRS radio market growth.
GMRS Radio Market: Competitive Landscape and Key Developments
Tidradio, Quanzhou Chierda Electronic Telecom Co Ltd, Midland Radio Corp, Hongkong Retevis Trade Co Ltd, and Fujian Baofeng Electronics Co Ltd are among the leading market players profiled in the GMRS Radio market report. Several other essential market players were analyzed for a holistic view of the market and its ecosystem. The report provides detailed market insights, which help the key players strategize their market growth. A few developments are mentioned below:
Midland launched two new maximum wattage GMRS radios: MXT500 and MXT575. These 50-watt radios come with two form factors and are built for those who want long-range GMRS radios.
In January 2023, Hongkong Retevis Trade Co Ltd launched RA86 MicroMobile 20W GMRS Two-Way Radio with an external magnetic mount and a 2dB antenna for an extended range.
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GMRS Radio Market: Industry Overview
The GMRS Radio market is segmented based on type and application. By type, the GMRS Radio market is segmented into handheld and In-Vehicle. Based on application, the global GMRS Radio market is classified into recreational, Off-Road, agriculture, and others. By region, the GMRS Radio market is segmented into North America, Europe, Asia Pacific, and the Rest of World.
North America is a developed region and an early adopter of advanced solutions. The agricultural sector is one of the major contributors to the economic growth of the region. In addition, with the rise in population, the demand for agricultural products for consumption is also increasing. For instance, according to the US Department of Agriculture, agricultural exports in the country were valued at US$ 177 billion in 2021, an increase of 18% compared to 2020. This rise in export activities resulted in increased farm operations to meet the growing demand for agricultural products. In the agricultural sector, farm operators use two-way communication radios in large farm fields to communicate farm-related information effectively and efficiently. GMRS radios help farm operators communicate over a channel and act as a cost-effective solution over mobile phones where the communication network fluctuates. Also, the presence of players such as BAOFENG TECH and MIDLAND RADIO is contributing to the growth of the GMRS radio market size.
A few of the best Off-Road driving trails in North America are Rubicon Trail (California), Moab (Utah), Johnson Valley (California), Superlift ORV (Arkansas), Ocala National Forest (Florida), and St. Joe State Park (Missouri), among others. These trails attract several enthusiasts to participate in Off-Road activities and competitions such as the Mint 400 championship. In such competitions, GMRS radios are widely used for communication between enthusiasts and authorities in case of any emergencies such as medical needs and mechanical failure of the vehicle. Therefore, increasing number of championships expected to fuel the In-Vehicle GMRS radio market size in the region.
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