NEW YORK, May 3, 2016 /PRNewswire/ -- "The growing demand for reliable and inexpensive land mobile radios will drive the market for land mobile radios"
The land mobile radios market is estimated to grow from USD 7.52 billion in 2014 to USD 15.65 billion by 2020, at a CAGR of 13.09% from 2015 to 2020. This market is driven by factors such as the growing demand for reliable & inexpensive LMRs, transition from analog to digital LMR products, and infiltration of LMRs into diverse industries.
"Digital LMRs to gain maximum traction during the forecast period"
The digital technology-based LMR segment is likely to hold the largest market share duing the forecast period. In addition, due to the rise in demand for digitalized products, which give better and effective results than traditional analog products, is expected to gain traction and grow at the highest CAGR in the next five years. The land mobile radios market is also projected to witness growth in the comemrcial industry, with the public safety industry accounting for the largest market share during the forecast period.
In the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews were conducted with key people in the market. Break-up of profile of primary participants is given below.
- By Company Type: Tier 1 – 45 %, Tier 2 – 33%, and Tier 3 – 22%
- By Designation: C-level – 55%, Director level – 30%, and Others – 15%
- By Region: North America – 50%, Europe – 15%, APAC – 30%, and RoW – 5%
The key land mobile radio vendors profiled in the report are:
1. Tait Radio Communications
3. Harris Corp.
4. Motorola Solutions
5. JVC Kenwood
6. Sepura PLC
7. RELM Wireless
8. Thales SA
9. Simoco group
The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the land mobile radio market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different verticals and regions.
2. The report would help stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.
3. This report would help stakeholders to better understand their competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, newproduct develpoments, partnerships, and mergers & acquisitions.
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