Persistence Market Research

Global Wearable Digital Walkie-Talkie Market to Be Led by General Consumer Segment

The global wearable digital walkie-talkie market is expected to be valued at US$ 43.5 million by the end of 2021, registering a CAGR of 32.6% between 2015 and 2021.

 

New York, NY -- (SBWIRE) -- 01/07/2016 -- Several regional segments of the global wearable digital walkie-talkie market will witness a rising demand for digital wearable walkie-talkies in the coming years. By region, the global wearable digital walkie-talkie market is divided into Asia Pacific (APAC), the Middle East and Africa (MEA), Europe, Latin America, and North America.

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North America to Dominate Global Wearable Digital Walkie-Talkie Market

Till the end of 2015, North America is projected to dominate the global wearable digital walkie-talkie market with a share of more than 67%. Europe is the second largest regional market and projected to account for more than 15% of the market by 2015 in the global wearable digital walkie-talkie market, trailed by the APAC region, which will account for a share of over 8%.

Asia Pacific is expected to be the fastest growing region in the global wearable digital walkie-talkie market during the forecast period from 2016 to 2021. The rising demand from this key market will drive the global wearable digital walkie-talkie market, which is projected to expand at an impressive 32.60% CAGR during the forecast period.

Technological Advancement to Propel Global Wearable Digital Walkie-Talkie Market

The global wearable digital walkie-talkie market is projected to be worth US$8.0 mn by the end of 2015 and by 2021, it is expected to expand substantially and will be worth US$43.5 mn. Wearable devices such as digital walkie-talkies are battery-run transmitting and receiving communication devices.

Several drivers are shaping the growth of the global wearable digital walkie-talkie market. Rising disposable incomes, the expanding organized retail sector, and the growing wearable electronics segment are some of these market drivers. In addition to this, the increasing demand for hands-free wearable digital walkie-talkies will also drive the global wearable digital walkie-talkie market.

Furthermore, the expanding smartphone networks and elevated emphasis on the usage of low-radio-frequency walkie-talkie devices to avoid regulatory restrictions will also fuel the global wearable digital walkie-talkie market. The global wearable digital walkie-talkie market will also benefit from the growing preference for compact wearable digital walkie-talkies.

Global Market to Benefit from Rising Demand from General Consumer Segment

On the basis of application, the global wearable digital walkie-talkie market is segmented into general consumers (training activity, commercial activity, tourism activity, personal activity, and store activity) and public institutions (law enforcement and military use). The general consumer segment is projected to hold more than 90% of the global wearable digital walkie-talkie market by the end of 2015 and continue to dominate the market during the forecasting horizon. The rising demand for wearable walkie-talkie devices in several application areas within the general consumers segment such as commercial activity, training activity, and store activity are projected to drive this segment. On the other hand, the public institution segment is projected to hold around 9% of the global wearable digital walkie-talkie market by 2015.

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Many key players in the global wearable digital walkie-talkie market are focused on launching innovative products. The key players operating in the global wearable digital walkie-talkie market are Orion Labs, Starnex, and Theatro. In early 2015, Orion Labs launched Ruby, a wearable device that enables users to communicate in a wireless manner. Prior to this, in 2013, Theatro had launched a mobile workforce productivity application suite called 'Communicator Software-as-a-Service (SaaS)'.

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