How Has the Two Way Radio Market Size Evolved in Recent Years?
The two way radio market has seen considerable growth due to a variety of factors.
• The market size of the two-way radio has shown robust growth lately. It will escalate from $9.82 billion in 2024 to $10.68 billion in 2025, with a compound annual growth rate (CAGR) of 8.8%.
Factors contributing to growth during the historic period include expanding digitalization across different industries, escalating needs for public safety and security, growth in industrialization and infrastructure development, and the requirement for customizable and solutions laden with features.
What Is The Forecast For The Two Way Radio Market Size?
The two way radio market is expected to maintain its strong growth trajectory in upcoming years.
• Over the ensuing years, a robust expansion is predicted for the two-way radio market as it is anticipated to soar to $14.8 billion by 2029, progressing at a compound annual growth rate (CAGR) of 8.5%.
The surge during the projection timeframe can be ascribed to its increased usage in the commercial and industrial sectors, the growing popularity of open-air leisure activities, increased funding in public security infrastructure, and climbing demand in emerging markets. The prediction period is characterised by significant trends such as the incorporation of cutting-edge technologies, amalgamation with IoT and AI technologies, widespread use of cloud-based solutions, the adoption of digital radios by law enforcement organisations, and seamless integration with smartphones.
What Are The Essential Drivers Behind The Growth Of The Two Way Radio Market?
The boost in the two-way radio market is projected to be fueled by the rising trend of participating in outdoor recreational activities. These activities, which include various leisure pursuits and hobbies conducted outdoors or in natural environments, are gaining popularity due to their combined health advantages, shifting social norms, and the longing for a connection with nature. Two-way radios are a pivotal part of outdoor recreation, providing dependable communication where mobile phone reception is poor and enhancing the safety and coordination of activities like hiking and camping. For example, data from the Bureau of Economic Analysis, a US government agency, in November 2023 revealed that outdoor recreation contributed 19.8% to the economy's value in 2022, an increase from 19.0% the previous year. Thus, the growing engagement in outdoor recreational activities is catalyzing the expansion of the two-way radio market.
How Is The Global Two Way Radio Market Divided Into Key Segments?
The two-way radio market covered in this report is segmented –
1) By Type: Analog Walkie-Talkie, Digital Walkie-Talkie
2) By Technology: Terrestrial Trunked Radio (TETRA), Project 25 (P25), Digital Mobile Radio (DMR), Next Generation Digital Narrowband (NXDN)
3) By Application: Government And Public Safety, Utilities, Industry And Commerce, Other Applications
Subsegments:
1) By Analog Walkie-Talkie: Standard Analog Walkie-Talkies, Long-Range Analog Walkie-Talkies, Compact Analog Walkie-Talkies
2) By Digital Walkie-Talkie: DMR (Digital Mobile Radio) Walkie-Talkies, TETRA (Terrestrial Trunked Radio) Walkie-Talkies, P25 (Project 25) Walkie-Talkies, Wi-Fi Or Bluetooth Enabled Digital Walkie-Talkies
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What New Trends Are Influencing The Two Way Radio Market?
Leading businesses in the two-way radio market are focusing on creating innovative solutions such as handheld two-way radios to boost critical communication for frontline personnel. These portable two-way radios are mobile communication tools that enable users to send and receive messages wirelessly. Their versatility, cost-effectiveness, and user-friendliness make them an excellent choice for several uses like public safety activities, construction projects, and other occurrences. For example, the China-based company, Hytera Communications Corporation, in November 2023, introduced a new batch of intrinsically safe (IS) two-way radio series. This includes the HP79XEx DMR Portable Two-way Radio and the PT890Ex TETRA Portable Radio. These updated radios, directed at improving staff safety and communication productivity, meet various explosion-proof criteria. Therefore, they are fit for sectors such as oil and gas, mining, chemical, firefighting, etc. They are engineered to avoid sparks, control heat production, and guarantee safety in risky areas with explosive dust and gases.
Who Are the Key Players In The Two Way Radio Market?
Major companies operating in the two-way radio market are:
• Raytheon Technologies Corporation
• Johnson Controls
• Thales Group
• Motorola Solutions Inc.
• Rohde & Schwarz GmbH & Co. KG
• JVCKENWOOD Corporation
• Kenwood Corporation
• Maxon America Inc.
• TETRA
• Codan Limited
• Tait Communications
• Sepura Limited
• Icom Incorporated
• Uniden America Corporation
• BK Technologies Corporation
• Shenzhen HQT Science & Technology Co. Ltd.
• Midland Radio Corporation
• Simoco Wireless Solutions
• Ritron Inc.
• Hytera Mobilfunk GmbH
• SFL Mobile Radio
• TPL Communications Inc.
• Thodukonics
• Uniden America Corporation
• Kirisun Communications Co. Ltd.
What Are The Regional Insights Into The Two Way Radio Market?
North America was the largest region in the two-way radio market in 2024. It is expected to be the fastest-growing region in the forecast period. The regions covered in the two-way radio market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
