Pune, India -- (SBWIRE) -- 02/07/2018 -- Market Synopsis:
A walkie talkie, is a portable two-way radio transceiver and inbuilt transmitter used for simplex communication. A walkie talkie does not require a separate network tower and are commonly used in settings such as public safety, business, outdoor recreation, construction and military.

The global Walkie Talkie Market is expected to reach approximately USD 16.99 billion by the end of 2023 with 9.47% CAGR during forecast period 2017-2023.

Major Key Players:
Motorola Solutions, Hytera Communications, Jvckenwood, ICOM, Tait Communications, Abel, Cobra Electronics, Kirisun Communications, Shenzhen HQT Science and Technology, Uniden, and Wintec among others.

Market Dynamics of Global Walkie Talkie Market:
Drivers
- Growing adoption and increasing investment in research and development
- Increasing security services
- Rise in risk factors which increase the need for security and confidential communication such as increasing incidence of crimes.
- Convenient to use due to advantages such as portability
- Falling cost of electronic components such as transistors
- Improving battery capacity such as Voxer, Zello, Orion Labs, Motorola Wave, and HeyTell, among others
- Growing toy walkie talkie systems

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Restraints:
- High cost of the devices and range and bandwidth limitation
- Emergence of secure mobile communication systems, network coverage and software
- Large market fragmentations resulting in falling pricing margin
- Growing mobile apps that mimic a walkie-talkie marketed as low-latency, asynchronous communication and work by pairing to another app on the user's smartphone
- Emergence of voice over IP (VOIP) which is cheaper than cellular plan
- Poor standards and exaggerated rating of range resulting in dissatisfied customers

Current industry trends
- Shift from analog to digital systems and miniaturisation of products
- Centralised and integrated systems with backup
- Technological convergence and increasing features such as ability to use Morse code, sending text messages, receivers for AM and FM
- Development of rugged and waterproof products for heavy use. Niche markets such as safe walkie-talkies systems for operations in hazardous climates such as petrochemicals engineered to avoid sparks during operated.
- Development of rechargeable batteries, multi-unit rechargers, interconnection to wireless headsets via Bluetooth
- Demand for encryption is expected to be the most unmet need and feature not available on most devices. Specialised military grade walkie talkie systems is expected to get a market premium
- Convergence between military and commercial system is expected to reduce the difference between them

Regional analysis of Global Walkie Talkie Market:
Geographically, the market is segmented into North America, Europe, Asia Pacific and rest of the World. Regionally, North America accounted for the largest market share led by the U.S., Canada. Europe is the second largest market with Germany, France taking the lead. However, Asia Pacific is expected to grow fastest over the forecast period, 2017-2023. The large commercialisation of Asia Pacific and especially in nations such as China and India is the critical driver of the market in these regions. Moreover China has emerged as a cheap manufacturing base, which is boosting its market.

The Middle East and Africa market is expected to be dominated by the Gulf economies such as Saudi Arabia, UAE and Qatar. The construction and homeland security industry of the Gulf economies are expected to be the prime drivers of the market.

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Segments of Global Walkie Talkie Market:
For the purpose of this study, Market Research Future has segmented the market of walkie talkie into age group, product type, wearing type, sales channel, application, end-users and region.

Product Type - analog walkie talkie, digital walkie talkie
Application - government and public safety, commercial (retail stores, shopping malls), industry and commerce, others (home security etc.)

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