Pune, July 01, 2020 (GLOBE NEWSWIRE) -- The global push-to-talk market size is projected to reach USD 25.22 billion by 2027, exhibiting a CAGR of 10.0% during the forecast period. Turbulence caused in business operations by the COVID-19 outbreak is likely to create lucrative sales opportunities for push-to-talk (PTT) solutions providers, suggests Fortune Business Insights™ in its recent report, titled “Push-to-talk Market Size, Share & Covid-19 Impact Analysis, By Component (Devices, Software, and Services), By Network Type (Push-to-talk over Cellular (PoC), and Land Mobile Radio (LMR)), By Enterprise Size (SMEs, and Large Enterprises), By Sector (Public Safety & Security, Government & Defense, Transportation & Logistics, Energy & Utility, Travel & Hospitality, and Others (Manufacturing, Construction, etc.)) and Regional Forecast, 2020-2027”.
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The coronavirus pandemic has forced governments to impose nationwide lockdown and social distancing norms to contain the spread of the infection. While majority of private sector employees are working from home, public safety agencies have to work on the field and coordinate with each other to manage the crisis. As a result, market players are providing their advanced communications platforms to support these agencies in optimizing their efforts to mitigate this crisis. For example, in April 2020, ESChat announced that it will be providing mission critical PTT solutions to Emergency Medical Service and law enforcement personnel across multiple states in the US. Thus, the COVID-19 outbreak will strongly favor the PTT market growth during the current year.
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According to the report, the value of the market stood at USD 12.00 billion in 2019. The other highlights of the report include:
- Detailed individual and collective study of all the market segments;
- Thorough analysis of the factors driving and retarding market growth;
- Comprehensive assessment of the regional developments influencing the market; and
- In-depth profiling and examination of the key market players and their dominant strategies.
Market Driver
Steady Movement towards 5G to Fuel Market Growth
The push-to-talk market growth is getting a major shot in the arm due to the rapid evolution in 5G infrastructures and technologies around the world as push-to-talk devices require reliable and high-speed networks to facilitate efficient communication between different entities. The extensive benefits offered by the convergence of these two technologies are pushing governments to expedite their adoption. For example, the US Federal Communications Commission (FCC) has formulated the 5G FAST plan to upgrade connectivity infrastructure in the country and reform regulations governing communications services. The European Commission (EC), as another example, is collaborating with the International Telecommunication Union (ITU) to accelerate digitization of economies through 5G and other computing technologies such as cloud computing. These developments signal good news for the PTT market.
Regional Analysis
Technological Advancements to Aid the Market in North America
North America is home to some of the biggest telecom companies such as Motorola and Verizon. Investments made by these companies in R&D to create advanced telecommunications solutions are expected to enable the region to dominate the push-to-talk market share. Moreover, the US FCC is planning to put 5G deployment on fast-track in response to the COVID-19 outbreak and its exponential spread in the US, which augurs well for the regional PTT market. The North America market size in 2019 stood at USD 4.49 billion.
Asia-Pacific is anticipated to register the highest CAGR in the market owing to increasing internet penetration in countries such as India and China, adoption of push-to-talk devices by law enforcement and public safety agencies, and rising expenditure in IT infrastructure. In Europe, the market is mainly driven by innovative PTT solutions having wide applicability in diverse sectors such as hospitality, construction, and transportation.
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Competitive Landscape
Tactical Acquisitions and Strategic Collaborations to Characterize Market Competition
Two of the most preferred routes currently being preferred by market players to expand their footprint and broaden their customer base are acquisitions and collaborations. These strategies are enabling companies to gain tactical advantage in the market over other competitors and are also diversifying their range of offerings.
Industry Developments:
- March 2020: Sweden-based telecommunications leader, Ericsson, announced that it will be acquiring 100% stake in the Spanish PTT solutions expert, Genaker. The acquisition will consolidate Ericsson’s position as a leading Mission Critical PTT (MC-PTT) provider to public safety agencies.
- October 2019: ESChat launched its much-acclaimed broadband-based push-to-talk service on T-Mobile’s network. T-Mobile will now be offering ESChat to its customers in the private and public sectors, without any restrictions on interoperability of services.
List of the Leading Companies Profiled in the Push to Talk Market Research Report are:
-
- Motorola Solutions Inc. (US)
- Zebra Technologies Corporation (US)
- AT&T Intellectual Property (US)
- Verizon Wireless (US)
- Qualcomm Technologies, Inc. (US)
- Harris Corporation (US)
- ICOM Inc. (Japan)
- Kyocera
- Siyata Mobile (Canada)
- ECOM Instruments GmbH (US)
- RugGear (US)
- Telefonaktiebolaget LM Ericsson (Sweden)
- Sonim Technologies (US)
- Simoco (India)
- Airbus DS Communications (US)
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints, and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Impact of COVID-19
- Short-term Impact
- Long-term Impact
- Key Industry Developments – In Response to the COVID-19 Impact
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Push-to-Talk Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size and Forecast – By Component (Value)
- Devices
- Rugged
- Standard
- Software (Dispatching & Monitoring Software)
- Cloud
- On-premises
- Services
- Consulting
- Implementation
- Support and Maintenance
- Devices
- Market Size and Forecast – By Network Type (Value)
- Push-to-talk over Cellular (PoC)
- Land Mobile Radio (LMR)
- Market Size and Forecast – By Enterprise Size (Value)
- SMEs
- Large Enterprises
- Market Size and Forecast – By Sector (Value)
- Public Safety & Security
- Government & Defense
- Transportation & Logistics
- Energy & Utility
- Travel & Hospitality
- Others (Manufacturing, Construction, etc.)
- Market Size and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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