Pune, India, Aug. 23, 2023 (GLOBE NEWSWIRE) -- According to a research report published by Fortune Business Insights™, titled "Push-To-Talk Market Size, Share and Industry Analysis, and Forecast 2023-2027" the global push-to-talk market is projected to experience significant growth, with an estimated value of USD 25.22 Billion by 2027.
The PTT market is expected to exhibit a robust compound annual growth rate (CAGR) of 10.0% between 2020 and 2027. The report attributes this growth to advancements in technology within the smartphone industry worldwide. In 2019, the market was valued at USD 12.00 Billion.
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List of Key Players Profiled in the Push-to-Talk Market Report:
- 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)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 10.0% |
| 2027 Value Projection | USD 25.22 Billion |
| Market Size in 2019 | USD 12.00 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 160 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Push-to-Talk Market Growth Drivers | Growing Deployment of Long-Term Evolution (LTE) Network-based PTT Solutions to Outgrow LMR Solutions |
| Rising Adoption of Wireless Devices, Network Devices, and Software among Organizations to Aid Market Growth |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/industry-reports/push-to-talk-market-100079
Push-To-Talk (PTT) is a communication technology that involves instant conversation between two wireless cellular networks. It involves using a button to switch the device from voice transmission mode to voice reception mode. This technology is a drastic improvement over the now sparsely used walkie-talkies across the globe. Additionally, the emergence of technology has enabled multi-pronged communication benefits wherein multiple parties can communicate with each other and have a conversation over a cellular network. Increasing development in telecommunications has propelled the demand for PTT as several large wireless carriers are coming out with their own versions of the PTT services.
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What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
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Drivers and Restraints:
Introduction of Technologically Advanced Products to Drive the Market
Voice communication has evolved drastically over the past decade. Emergence of fully equipped IP-based PTT communication technology over the radio is the testimony to the massive advancement in field of telecommunication. Communication is efficient and instant than ever before and has paved way for the companies to introduce innovative products that are technologically advanced across the globe. For instance, in April 2020, ESChat publicly announced its launch of ESChat broadband PTT service for the TELUS wireless network by completing the formalities of a commercial contract between the two companies that was forged in MAY 2019. Marshall Berkin, Vice President of TELUS, said on the sidelines of the development that the ESChat PTT service would harness the power of instant interaction and compatibility to enable professional group communication safe and reliable for our consumers. He further added, “Our collaboration with ESChat will propel the business to empower the mobile workforces while enabling us to be agile and save costs.”
Furthermore, according to the report, the companies are striving to gain maximum market share by adopting strategies such as signing contracts, joint ventures, and collaboration during the forecast period. For instance, in May 2020, Motorola Solutions announced that it has secured a fresh contract from the Israeli government to deploy a new broadband push-to-talk (PTT) solution. According to the tender, the company is expected to provide over 10,000 devices to Israel that are powered by the WAVE Motorola Solutions along with installing, operating, and maintaining the PTT communication services. Furthermore, the WAVE technology will boost the efficiency of operations among government officers and field personnel.
Regional Analysis:
Improving Communication Infrastructures in Asia-Pacific to Augment Growth
Among the regions, Asia-Pacific which generated USD 2.91 Billion in 2017 is anticipated to be at the forefront during the forecast period. Factors such as increasing collaboration strategies among the companies and the distributors in the region will propel it to gain maximum global push-to-talk market revenue. Furthermore, the constant development of communication infrastructures and the growing impetus of public sector safety in countries such as China and India will bode well for market growth in the forthcoming years.
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 a tactical advantage in the market over other competitors and are also diversifying their range of offerings.
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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
- North America 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 Country (Value)
- United States
- Canada
- Europe Push-to-Talk Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size and Forecast – By Component (Value)
TOC Continued...!
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Key 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.
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