Push-to-Talk Over Cellular Market
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 market.
PORTLAND, PORTLAND, OR , UNITED STATES , July 23, 2022 /EINPresswire.com/ — Deployment of next-generation 5G network is anticipated to create lucrative opportunities in the coming years. 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 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.
Key market players such as – 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.
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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.
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.
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• 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.
Key drivers that are propelling the growth of the market included in the report. Additionally, challenges and restraining factors that are likely to curb the growth of the market are put forth by the analysts to prepare the manufacturers for future challenges in advance.
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Latest news and industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures and collaborations, product launches, market expansions etc. are included in the report.
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