Albany, NY -- (SBWIRE) -- 10/24/2016 -- Transparency Market Research, in a report titled "Land Mobile Radio (LMR) Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2014-2020," offers an in-depth an accurate, reliable, and objective analysis of the global land mobile radio systems market. According to the report, the global LMR systems market is poised to expand at an impressive 16.9% CAGR from 2014 to 2020. In 2013, the market was valued at US$10.5 bn,and is projected to rise to US$30.6 bn by 2020.

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Land mobile radio (LMR) systems are independent or connected wireless communication systems. Although primarily designed for military purposes, these systems are also used in fire and police departments, emergency services, and other first responder organizations, in addition to companies that possess a vast fleet of vehicles or an expansive network field staff. The expansion of LTE networks has driven the demand for LTE-integrated LMR systems, thereby spurring the overall LMR systems market. Moreover, the growing importance of efficient mission-critical operations has driven the demand for advanced LMR systems.

The global LMR systems market has been evaluated on four fronts: Technology, type, application, and geography.

By type, the LMR systems market is bifurcated into mobile and portable. The portable LMR systems segment accounted for a 55.9% share in the overall LMR systems market in 2013 driven mainly by the rising applications of the same in mining and construction activities as well as for corporate use.

On the basis of technology, the LMR systems market has been split into digital and analog. The analog segment surpasses the digital segment at present owing to the fact that the former has been in use over a longer period of time and also includes a larger range of product offerings. However, considering the host of advantages presented by digital LMR systems, this segment is forecast to surpass the analog LMR systems segment by 2020.

Based on application, the LMR systems market is segmented into commercial, transportation, military, construction, and others. The application of LMR systems in the military sector accounted for a share of 36.1% in 2013 based on revenue, making it the largest application segment. The report states that the use of LMR systems in the commercial sector is bound to increase in the coming years owing to small and medium enterprises using these systems to streamline business operations.

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By geography, the LMR systems market is divided into Europe, Asia Pacific, North America, and Rest of the World. Although North America is presently the dominant market for LMR systems, Europe is anticipated to surpass it by the end of the forecast period owing to the surging demand for LMR systems from the government and construction sectors. Asia Pacific presents several opportunities for growth owing to the rapid growth of the automotive industry in India and China and hence, this region will emerge as the fastest expanding market for LMR systems market by 2020.

Harris Corporation, RELM Wireless Corporation, JVC Kenwood Corporation, Cassadian Communications, Inc., Motorola Solutions Inc., Thales Group S.A., Raytheon Company, TE Connectivity Ltd., and Nokia Networks B.V. are some of the key players competing in the global LMR systems market. These players have been reviewed in the report based on attributes such as company and financial overview, recent developments, and business strategies.