Push-to-Talk (PTT) Services being Widely Adopted in Public Safety Sector: Fact.MR
Demand for push-to-talk hardware and services has gained fast-paced growth over the past years, owing to rise in adoption in the public safety sector. With increase in requirement for PTT services with LMR networks, stakeholders in this field are expected to come across new opportunities over the coming years.
Despite facing a temporary decline due to the onset of the COVID-19 pandemic, industry players are projected to gain higher revenues with the surge in demand from government & defense and commercial sectors as well.
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The latest report by Fact.MR predicts that the global push-to-talk (PTT) market will expand at a CAGR of over 8% from 2021 to 2031, surpassing a US$ 40 billion valuation by 2031.
Key Takeaways from Market Study
- Rise in demand from government and defense sector to fuel sales
- The United States to hold a major share of the global PTT market
- Germany to exhibit hegemony for push-to-talk services and solution in Europe
- China and India to take the spotlight in the world’s fastest-growing push-to-talk industry – Asia Pacific
- The United Kingdom, Germany, Japan, and France to emerge highly lucrative markets for PTT
- LMR push-to-talk solutions to be most sought-after across regions
“Increase in demand for push-to-talk hardware, solutions, and services across diverse end-use sectors is expected to spearhead industry growth, while rising adoption of Land Mobile Radio (LMR) type of networks will further fuel sales,” says a Fact.MR analyst.
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Demand for Push-to-Talk Services Increasing from Commercial Sector
Push-to-talk services are highly sought-after in the commercial sector as a means of instantaneous communication through wireless cellular phone services. With demand from various commercial sectors such as transportation & logistics, travel & hospitality, retail, and others increasing, market players are expected to witness impressive increase in revenue over the coming years.
According to a report titled “Logistics & Transportation Industry”, published by SelectUSA, the U.S.
logistics and transportation industry is highly progressive, while business logistics costs reached US$ 1.6 trillion in 2018, representing 8% of the Gross Domestic Product (GDP) in that year. Also, as stated in a report titled “Retail Services”, published by the European Commission (EC), the retail & wholesale industry in the European Union (EU) is highly potential.
Though retail sales dropped by 5.40% in 2020 due to the COVID-19 pandemic, it’s getting back on its feet and is set to create new opportunities for PTT market players through 2031.
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Key Questions Answered in Report
- Which are the top companies offering push-to-talk services?Some of the top companies are AINA Wireless, GroupTalk, Iridium, and Zello.
- Which are some of the lucrative markets for push-to-talk services?The United States, Germany, China, India, Japan, the United Kingdom, France, Canada, and Italy are lucrative markets for push-to-talk services, and are expected to dominate throughout the forecast period.
- Which network type accounts for high demand of push-to-talk solutions?Presently, LMR is the most lucrative segment in terms of network type, and is expected to remain dominant over the forecast period of 2021 to 2031.
- Which end-use industry accounts for higher sales of push-to-talk hardware?Currently, public safety and commercial sectors account for high sales of push-to-talk hardware, and are predicted to sustain this position throughout the forecast period.
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