The Terrestrial Trunked Radio Market revenues were estimated at US$ 4.4 Bn in 2016 and is anticipated to grow at a CAGR of 11.9% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 26.8 Bn.
The growing need for encrypted communication and security is one of the key factors driving the market growth. In addition, the widespread use of smartphone apps for community security is pushing up demand for TETRA-compliant equipment. The advanced features of TETRA-compliant equipment, such as inbuilt GPS and navigation, provide users with an exact target position. It also aids data storage and exchange with other customers via networking devices, enhancing communication.
Since there is a greater need for effective critical communications in public security applications by integrating the characteristics of mobile cellular phones with rapid data transfer, terrestrial trunked radio technology offers significant benefits to mobile communication. Broadband technology advancements have created a significant requirement for TETRA devices to provide improved penetration and consistent outcomes. The railway industry is upgrading infrastructure with radio-based digital signalling and communications services as technology progresses..
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TETRA hardware also provides a variety of benefits, including durability and man-down capability. The portable devices category is expected to grow at the fastest pace over the projection period due to features such as durability and size compatibility. The fast adoption of some devices by businesses such as utilities is fueling the regional market, which is supported by the rising requirement for public security and the expansion of IT infrastructure.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain a competitive advantage. The key companies in the Terrestrial Trunked Radio Market are focused on R&D to produce innovative technological solutions.
- In May 2021, Thales announced the release of the latest version of its Connectivity Software-Defined Radio series, which will aid in the speeding up of collaborative combat.
- In August 2019, Viasat Inc., a global communications company, revealed that monthly production run speeds for over 200 Non-Developmental Items had been increased.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Terrestrial Trunked Radio Market, presenting historical market data (2016-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Terrestrial Trunked Radio Market in terms of Component (Hardware, Software, Services), Device Type (Portable, Vehicular), and Application (Transportation and Logistics, Aviation, Oil and Gas, Public safety, Others) across five regions (North America, Latin America, Europe, Asia Pacific, and Middle East & Africa).
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Market Segments Covered In Terrestrial Trunked Radio (TETRA) Market Analysis
By Component:
- Hardware
- Software
- Services
By Device Type:
- Portable
- Vehicular
By Application:
- Transportation and Logistics
- Aviation
- Oil and Gas
- Public Safety
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management a consumer electronics will likely remain the leading end-use sector cross verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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