Push-to-Talk Over Cellular Market Reach to USD 6.95 Billion by 2027 | Top Key players such as – AT&T, Verizon & Kyocera
Deployment of LTE network, rise in number of internet users around the world, and proliferation of mobile devices drive the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, May 23, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Push-to-Talk Over Cellular Market Reach to USD 6.95 Billion by 2027 | Top Key players such as – AT&T, Verizon & Kyocera.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The push-to-talk over cellular market size was valued at USD 3.43 billion in 2019, and is projected to reach USD 6.95 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027.
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Rise in adoption of smartphone applications is expected to support the push-to-talk over cellular market growth. This is attributed to applications as well as integration benefits with various communications networks and are compatible with various devices. Hence, surge in demand for push-to-talk applications among smart devices is among the major factors expected to boost the growth of the market during the forecast period.
The global push-to-talk over cellular market segmentation includes component, application, and region. By component, it is categorized into equipment, software, and services. By application, it is divided into public safety & security, construction, energy & utility, transportation & logistics, manufacturing, government & defense, travel & hospitality, and others. Region-wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The equipment segment held the largest share in 2018, contributing to more than three-fifths of the global push-to-talk over cellular market, owing to the ability of push-to-talk over cellular devices that provides collaborative and integrated solutions such as group communications. However, the services segment held the highest CAGR of 11.5% during the forecast period, due to rise in awareness regarding loss of performance and productivity due to lack of communications.
The transportation & logistics segment is projected to register the fastest CAGR of 11.9% during the forecast period, owing to as it helps the companies in communication and handling operations effectively as the flows and volumes are increasing in the logistics industry at a rapid pace. However, the public safety & security segment held the largest share in 2018, accounting for more than one-fourth of the market.
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Region wise, Asia-Pacific is expected to witness a significant growth in terms of CAGR in the upcoming years as push-to-talk over cellular market opportunity. Whereas, North America dominated the market in 2019 due to availability of advance network infrastructure and is expected to remain dominant in terms of revenue growth during the forecast period.
The key players profiled in the push-to-talk over cellular market forecast includes AT&T, Inc., Qualcomm Technologies, Inc., Verizon Communications, Motorola Solutions, Inc., Kyocera Corporation, Mobile Tornado, Sprint Corporation, Bell Canada, Simoco Wireless Solutions, and Sonim Technologies Inc.
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COVID-19 Scenarios
● The push-to-talk over cellular communication services have witnessed an increased demand amid COVID-19, owing to increase in the practice of remote working system. In addition, the rise in check posts to monitor the people in various areas in order to curb the spread of coronavirus has surged the demand for push-to-talk over cellular communication devices as well.
● Whereas, the manufacturing of devices has come to a halt due to stringent regulations amid COVID-19. Furthermore, the investments and orders have been put on hold. However, with the nod given by the government the industry has restarted the processes and manufacturing at a slower pace.
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