Push-to-Talk over Cellular (PoC) Market Growing at a CAGR of 9.4%: Industry Insights and Forecast
The deployment of the LTE network and the proliferation of mobile devices drive the growth of the global push-to-talk over the cellular market.
PORTLAND, PORTLAND, OR, UNITED STATES, February 22, 2024 /EINPresswire.com/ — According to a recent report published by Allied Market Research, titled, “Push-to-Talk Over Cellular Market, By Component and Application: Opportunity Analysis and Industry Forecast, 2020–2027,” the push-to-talk over cellular market size was valued at $3.43 billion in 2019, and is projected to reach $6.95 billion by 2027, growing at a CAGR of 9.4% from 2020 to 2027.
Push-to-talk over cellular solutions facilitates group communications across a dispersed workforce in an organization or industry. Industries in manufacturing and production continuously require consistent communication across the production line. In addition, industries in safety and emergency services are highly dependent on push-to-talk systems. Hence, the demand for push-to-talk over cellular is expected to rise at a significant rate owing to its ability to provide secure and reliable communication services between teams in an industry or organization.
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Walkie-talkie devices were widely used as a mode of communication among teams, but their costly equipment and network distortion hindrance increased the growth of the push-to-talk over cellular devices due to the cost efficiency and reliability benefits offered. These devices are built over push-to-talk technology that includes half-duplex push-to-talk communications benefits with the resistance to interference offered by mobile phones. Thus, the growth of the equipment segment propelled the growth of the market in 2019 and is further expected to boost the market growth in the coming years.
The rise in the 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 that are compatible with various devices. Hence, the 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.
North America dominated the overall push-to-talk over cellular market trends in 2019 and is expected to remain dominant during the forecast period. This is attributed to the availability of enhanced network infrastructure in the region with high proliferation of LTE networks in the region. In addition, high number of smart devices in the regions operate on deployed LTE technology also supports the growth of the market in the region.
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Furthermore, Asia-Pacific is expected to exhibit the highest growth rate during the forecast period. Factors supporting the growth of the Asia-Pacific push-to-talk over cellular market include the significant presence of telecom operators that are expanding their 5G infrastructure, proliferating LTE deployments, and high penetration of mobile devices in the region.
By component, the services segment is expected to register the highest CAGR of 11.6% from 2020 to 2027, owing to rise in the development of network infrastructure especially in developing economies. However, the equipment segment held the largest share in 2019, accounting for more than three-fifths of the global push-to-talk over the cellular market. The ability of push-to-talk over cellular devices that provide collaborative and integrated solutions such as group communications, is a major factor expected to drive the growth of the segment. In addition, as push-to-talk equipment enables interconnected Digital Mobile Radio (DMR) and cellular networks with advantages such as two-way radio boost segment growth.
By application, the public safety and security segment held the largest share in 2019, contributing to more than one-fourth of the global push-to-talk over the cellular market. Replacement of land mobile radio (LMR) with push to talk over cellular services as it offers improved public safety communications operability during emergency and coordination situations drive the segment growth. However, the transportation & logistics segment is expected to register the highest CAGR of 12.0% during the forecast period. Most of logistics companies are replacing traditional walkie-talkie communication solutions with modern communications solutions, based on digital models such as the push-to-talk over cellular phones. This factor drives the segment growth.
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COVID-19 Scenarios:
• The push-to-talk over cellular communication services has witnessed an increased demand amid COVID-19, owing to an increase in the practice of remote working systems. In addition, the rise in check posts to monitor the people in various areas 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.
High internet penetration equivalently increased the number of internet users. This has led to a rise in the adoption of push-to-talk applications among individuals across the globe. Moreover, the global push-to-talk over the cellular market is expected to exhibit a significant growth rate during the forecast period owing to a significant rise in network traffic from the rise in M2M connections, mobile, and wireless devices.
Some of the key push-to-talk-over cellular market players profiled in the report include 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. Players operating in the market have witnessed high revenue growth opportunities for analytical solutions and services especially due to digitalization. This study includes the push-to-talk over cellular market analysis, trends, and future estimations to determine the imminent investment pockets.
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