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.
Albany, NY -- (SBWIRE) -- 03/15/2016 -- A wearable digital walkie-talkie is a compact, wearable, battery-operated transmitting and receiving communication device. In this report, the global wearable digital walkie-talkie market is broadly segmented on the basis of applications and regions to get a clear understanding of the market.
This Persistence Market Research report examines the global wearable digital walkie-talkie market for the period 2015–2021. The primary objective of the report is to offer updates on advancements in walkie-talkie devices that have given rise to a futuristic product, wearable digital walkie-talkie.
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The global wearable digital walkie-talkie market is expected to witness significant growth during the forecast period. Augmented disposable income, growing wearable electronics market and expanding organized retail sector worldwide are some of the factors expected to propel the growth of the market. Growing demand for hands-free wearable digital walkie-talkies, increasing independence from other devices, smartphone networks or Wi-Fi connections, growing emphasis on use of low radio frequency walkie-talkie devices in order to avoid regulatory restrictions and increasing shift in preference for small-sized wearable digital walkie-talkies are some of the trends observed in the global digital wearable walkie-talkie market.
This report covers the global wearable digital walkie-talkie market performance in terms of market value and volume split since this is detrimental to the growth of the wearable digital walkie-talkie market. This section also includes PMR's analysis of key trends, drivers and restraints, which are currently influencing the global wearable digital walkie-talkie market. Impact analysis of key growth drivers and restraints, based on the weighted average model, is included in this report to better equip clients with crystal clear decision-making insights.
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In the following section of the report, PMR classifies the wearable digital walkie-talkie market on the basis of application segments, which include general consumer and public institutions. The general consumer segment is further sub-segmented into store activity, personal activity, tourism activity, commercial activity and training activity. On the other hand, the public institution segment is further sub-segmented into military use and law enforcement. This section provides a market forecast for 2015–2021 in terms of value as well as volume.
On the basis of region, the market is segmented into North America, Latin America, Europe, Asia-Pacific and MEA; of these, North America is estimated to dominate the global wearable digital walkie-talkie market share by the end of 2015, Europe is estimated to rank second and followed by APAC. The Asia-Pacific market is expected to expand at the highest CAGR of 60.8% during the forecast period.
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Key players identified in the global wearable digital walkie-talkie market are STARNEX Co., Ltd., OrionLabs, Inc., Theatro and AWIRE Technology Corp. Major participants, such as OrionLabs, Inc. (Formerly OnBeep) and Theatro, are focusing on increasing investment and funding on product development.
Moreover, these key players are also focusing on launching new products into the market. For example, in 2015, STARNEX Co., Ltd. launched a new wearable digital walkie-talkie. In early 2015, OrionLabs, Inc. (Formerly OnBeep) launched Ruby—a wearable tech device that enables users to communicate in a hands-free, wireless manner. In 2013, Theatro launched 'Communicator Software-as-a-Service (SaaS)', a mobile workforce productivity application suite.
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