Hyderabad, India -- (SBWIRE) -- 08/21/2018 -- According to the new market research report by IndustryARC titled Industrial Radio Market: By Type (Fixed, Portable/ Mobile, Others); By Technology (Digital, Analog); By Standard (P25, Tetra, DMR, Others); By End User (Aviation, Marine, Mining, Oil and Gas, Power, Manufacturing, Construction, Others) & By Region - Forecast (2018-2023)", the market accounted for $8.39 billion in 2016, estimated to grow with the CAGR of 8.9% and to reach $14.7 billion by 2023.
Radio Communications support industrial operations, including personal vehicle monitoring or controlling equipment. Digital radio communication is opted as a tool for contributing to the production, to make the business more efficient, enhancing the reliability of communication in emergency and remote locations. Industrial radio communication is among the key technologies which aid in increasing efficiency and concurrently, improves the productivity and safety of the individual while establishing proper communication in emergency situation. This technology opens up new techniques for optimizing the security process.
Asia-Pacific dominates market share and growth during 2018-2023:
The market is set to experience a strong growth in the forecast period due to the demand for industrial radio communications in various end-user industries. Asia-Pacific is evolving as the fastest growing region for industrial radio market, growing at a healthy CAGR of 11.1% throughout the forecast period 2018-2023. The Chinese government is slated to make an investment as a part of "Made in China 2025" project, which will aid in the development of the industrial radio market. Increasing applications in various industries such as aviation and electronics, machinery chemicals, automotive, metallurgy and others, are positively influencing the growth of market.
North America is another region contributing to the radio business, witnessing revenue of $2.93 billion in 2016, and is projected to reach $4.85 billion by the year 2023. According to OECD, U.S. economic growth is projected to increase in the years 2018 and 2019. The U.S. communication industry is the leading provider of telecom services and is the second largest market across the globe. Demand for wireless communication infrastructure and advanced critical communication devices in aviation and oil & gas industries are driving the demand for the radio industry.
Selected Standard & Market Analysis done in the full report:
P25 Standard is majorly adopted by majority of the industries that include airports, petroleum, transit, chemical manufacturers, and others, who depend on mission critical transportations with public safety agencies in an emergency situation. Currently, in the U.S., the adoption of these standards has been slowed due to budget glitches. However, funding for communications advancements from the Department of Homeland Security will slightly propel the growth of the mobile radio market across the globe. TETRA systems mostly operate in ultra-high frequency (UHF) band and are being used in European countries, which operates in the 380-430 MHz's band. Regions such as APAC and South America supports 800 MHz's band, and is propelling the market growth. Industrial radios play a major role for the development of communications in the commercial industry. There is a strict requirement for Quality of Service (QOS) in commercial radio end user industry segment to ensure transmission of periodic messages.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
Military and aviation utilizes radio communication for real time command and control. Radio communication provides intelligent and secure command and control even in the harshest conditions. Undersea robots also transmit the data from ship or shore base stations. Various information's sent through radio are confidential and requires encryption for transmitting the signal, thus fueling the growth of radio communications.
Industrial automation market is also experiencing a significant surge in recent years. In order to improve processes and plant capabilities, companies in these verticals are enhancing the communication capabilities, driving the growth of the industrial radio market.
With advancing technologies, communication sectors are also shifting towards digital technology. Error correction and detection techniques are implemented easily in digital communication. Bandwidth consumptions are also reduced and more simultaneous talking paths are embedded into a single digital radio channel.
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Key players of Test and Measurement Market:
Notable players in the industrial radios market comprise of Thales S.A., Motorola Solutions, Inc., Harris Corporation, Raytheon Company and Relm Wireless Corporation. The market has witnessed various acquisitions and partnerships accounting for 24% and 21% respectively for total developments. Other strategies like Collaborations, Mergers and Joint Ventures are also assertively being adopted by the companies to meet new horizons in product development and to achieve greater market exposure.
Companies citied and interviewed:
Tait Radio Communication
JVC KENWOOD CORPORATION
Rohde & Schwarz
Industrial Radio Market Report is segmented as indicated below.
Industrial Radio Market, By Type
Industrial Radio Market, By Technology
1. Digital Industrial Radio
2. Analog Industrial Radio
Industrial Radio Market, By Standard
Industrial Radio Market, By End User
1. Oil and Gas
4. Logistics and Transportation
6. Mining7. Chemical
8.1. Generation Plants
8.2. Transmission and Distribution Station
9.1. Water and Waste Water Treatment
9.2. Gas Distribution
Industrial Radio Market By Geography ( Covers 15+ Countries )
Industrial Radio Market Entropy
Appendix: Abbreviations, Sources, Research Methodology, Bibliography, Compilation of Experts, Disclaimer.
A. Broadcast Radio Market
B. Radio frequency components Market
What can you expect from the report?
The Industrial Radio Market Report is Prepared with the Main Agenda to Cover the following 20 points:
1. Market Size by Product Categories
2. Market trends
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Demand Analysis ( By Revenue & Volume )
12. Country level Analysis (15+)
13. Competitor Analysis
14. Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Strategic Analysis
18. Current & Future Market Landscape Analysis
19. Opportunity Analysis
Frequently Asked Questions:
Q. Does IndustryARC publish country, geography or application based reports in Industrial Radio Market?
Response: Yes, we do have separate reports as mentioned below:
1. America Industrial Radio Market (2018-2023)
2. Europe Industrial Radio Market (2018-2023)
3. Asia Pacific Industrial Radio Market (2018-2023)
4. Middle East and African Industrial Radio Market (2018-2023)
5. Commercial Industrial Radio Market (2018-2023)
6. Retail Industrial Radio Market (2018-2023)
7. Aerospace & Defense Industrial Radio Market (2018-2023)
8. Marine & Electronics Industrial Radio Market (2018-2023)
9. Mining Industrial Radio Market (2018-2023)
10. Global Industrial Radio Market Tracker (2011-2030) – Subscription (40+ countries and 100+ companies, 50+ products with analysis on raw material manufacturers, product manufacturers, distributors, end users and startups)
Q. Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization:
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
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