This research report categorizes the Push-to-Talk Market to forecast revenues and analyze trends by component, vertical, organization size, network type, and region.
Northbrook, IL -- (SBWIRE) -- 02/10/2022 -- According to a new market research report "Push to Talk Market by Component (Hardware, Solutions, and Services), Network type (LMR and Cellular), Organization Size (SMEs and Large Enterprises), Vertical (Public Safety, Government and Defense, Commercial) and Region - Global Forecast to 2026" published by MarketsandMarkets™, the Push-to-Talk market size to grow from USD 29.2 billion in 2021 to USD 45.2 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 9.1 % during the forecast period. Various factors such as growing need for driver safety, the rising demand for efficient and cost-effective solutions are expected to drive the adoption of Push-to-Talk solutions and services.
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In a short time, the COVID-19 outbreak has affected markets and customer behaviors and substantially impacted economies and societies. Healthcare, telecommunication, media and entertainment, utilities, and government verticals function day and night to stabilize conditions and facilitate prerequisite services to every individual. The telecom sector, in particular, is playing a vital role across the globe to support the digital infrastructure of countries amid the COVID-19 pandemic.
According to Fujitsu's Global Digital Transformation Survey, offline organizations were damaged more, while online organizations witnessed growth in online demand and an increase in revenue. 69% of the business leaders from online organizations have indicated that they witnessed an increase in their business revenue in 2020. In contrast, 53% of offline organizations saw a drop in revenues.
The Over the top solution segment to have a higher CAGR during the forecast period
An adequately designed Over the Top (OTT) system can communicate over traditional wireless carrier networks, Wi-Fi networks, standard wired networks (for PC clients), and private LTE networks, including FirstNet and Deployable systems. OTT PTT solutions are entirely independent of the carrier's wireless networks and can be used on various wireless networks where the carrier acts as the data provider.
LMR segment to hold a larger market size during the forecasted period
LMR, or Land Mobile Radio, is PTT two-way communication between radio transceivers. This can happen in various handheld, vehicle-mounted, and fixed base mediums. LMR is utilized in multiple industries, including mission-critical communications in public safety and private communications for commercial industries. First responders widely use these systems, such as police vehicles, ambulances, and fire services. LMR systems improve the efficiency and safety of your organization while ensuring the technology is reliable in whatever scenario your business faces. Ultimately, LMR ensures all industries have access to safe and secure radio communications.
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SMEs organizations to have a higher CAGR during the forecast period
Reduced costs and maximum productivity are vital factors for the adoption across small and medium-sized organizations as they have low budgets and spending. Thus, the organizations implement -effective PoC solutions that eliminate the cost associated with setting up wide communication infrastructure.
Transportation and logistics commercial vertical to hold a larger market size during the forecasted period
Reliable on-time delivery of shipments to customers, effective utilization of fleets, and driver safety and productivity, and are major areas of focus for this vertical. PTT devices mounted in fleets replace mobiles by drivers, thereby reducing driver distraction and improving driver safety and productivity. The location tracking feature of the PoC solution enables real-time tracking of fleets and drivers, enabling fleet operators and dispatchers to coordinate and instruct the driver in real-time.
APAC to hold higher CAGR during the forecast period
APAC is home to many developing economies and is expected to be the fastest-growing region during the forecast period. Its growth is attributed to its advancement in IT infrastructure and rising collaboration between distributors and key players. There has been a huge shift toward higher-speed mobile technologies in APAC over the last few years. Asian markets are leading the development of 5G mobile technologies. For scaling up the innovative mobile services in the region, the mobile operators in the region are collaborating with tech startups. APAC consists of countries like China and Japan, leading in the PTT market. The key players in this region focus on launching new products to gain a strong foothold in the market.
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Major vendors in the global Push-to-Talk market, AT&T (US), Verizon Wireless (US), Motorola Solutions (US), T-Mobile (US), Qualcomm Incorporated (US), Bell Canada (Canada), Iridium Satellite LLC (US), Tait Communications (New Zealand), Zebra Technologies Corporation (US), Telstra Corporation Limited (Australia), Hytera Communications Corporation Limited (China), Simoco Wireless Solutions Limited (England), GroupTalk (Sweden), Orion Labs, Inc. (US), Zello Inc (US), Yiip, Inc. VoiceLayer (US), VoxerNet LLC (US), International Push to Talk Ltd (iPTT) (England), Enterprise Secure Chat (ESChat) (US), AINA Wireless (US), S.L. (Azetti Networks) (Spain), ServiceMax, Inc. (US), PeakPTT (US), RugGear (China), and TeamConnect (US).
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