Heavy! Global walkie talkie industry overview analysis
The global walkie-talkie market size is expected to grow from USD 5.46 billion in 2021 to USD 6.08 billion in 2022, at a compound annual growth rate (CAGR) of 11.4%. The walkie-talkie market size is expected to grow to USD 9.03 billion by 2026, at a CAGR of 10.4%.
The types of walkie talkies mainly include wearable walkie-talkie devices and handheld walkie-talkie devices. A wearable digital walkie-talkie is a small, battery-operated, wearable communication device used to transmit and receive data. Intercom's products are analog and digital, distributed in offline channels, online channels. Various applications of portable radio are government and police, military and defense, retail and manufacturing, commercial and industrial, security.
North America is the largest region for the two way radio market in 2021. Asia Pacific is expected to be the fastest growing region during the forecast period. The regions covered in the Walkie Talkie Market report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Increasing budget for residential social security equipment is driving the demand for the intercom market. Rising criminal activity in residential and commercial areas has resulted in increased budgets for security equipment in residential areas. According to an article published by US business magazine Forbes Advisor in February 2022, the average cost of home security equipment in the US is $5 (purchase contract) Additionally, in January 2021, nearly a third of Americans will spend more than $600 on home technology this year, the same amount they received in stimulus payments, according to an article published by unbiased home security review firm Safewise. Hence, increasing focus and investment in security equipment will increase the demand for security equipment such as intercoms for intercom. Hence, the increasing budget for security equipment is driving the demand in the walkie-talkie market. Technological advancements are shaping the two-way radio market. In order to meet the market demand and maximize the market share, manufacturing companies are doing a lot of research and development on their products. Many companies in the market are launching new and latest products to provide customers with a better experience. For example, in August 2021, Motorola Solutions, a US provider of video equipment, telecommunications equipment, software, systems and services, launched the APX NEXT Smart Radio, a next-generation public safety radio that provides mission-critical voice communications over Land mobile Radio (LMR) networks while utilizing broadband networks for data applications. In March 2019, Motorola Solutions, a US leader in public safety and corporate security, acquired Avtec for an undisclosed sum. The acquisition of Avtec will add new capabilities to Motorola Solutions' land mobile radio and broadband platforms for public safety and commercial customers. Avtec Corporation is a telecommunications equipment company based in the United States. The countries covered in the Walkie Talkie Market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, United Kingdom, and the United States.
Some of the Key Players in the Walkie-Talkie Market are: Entel Group, Hytera Communications, Icom Inc, JVCKENWOOD Corp, Cresun Communications Inc., Motorola Solutions Inc., Shenzhen Universal Communications Technology, Uniden Holdings, Tate International Ltd., Hong Kong Ritwiss Trading Co. Ltd., BK Technologies Inc, L3Harris Technologies Inc, Thales Group, Icom America Inc, Sepura plc The rapid development of the two way radio market reflects the sustained and rapid development of my country's national economy from the side. As the future of my country's walkie-talkie industry has a broad space for development and bright prospects. Therefore, improving the technical content of walkie-talkie products, making them intelligent, high-quality, and lightweight has become the development trend of my country's walkie-talkie brand establishment. Independent research and development and technological innovation to cultivate the domestic handheld radio market is not only an important task for my country's walkie-talkie manufacturing industry, but also a turning point for improving the level of my country's social and economic development.
In the future, the business of walkie-talkies will not be single, there are toy walkie-talkies, industry walkie-talkies, professional walkie-talkies, etc. More types of walkie-talkies are also beneficial to the development of some industries.
