Push-to-Talk over Cellular Market register a CAGR of over 11% during the forecast period (2021-2031)
NEW YORK, July 7, 2021 /PRNewswire/ -- The global push-to-talk over cellular (PTToC) market is estimated to be valued at US$ 4.3 Bn in 2021, and register a CAGR of over 11% during the forecast period (2021-2031), with revenues in the public safety and security segment growing at a robust 12.8% CAGR, according to a revised study by Persistence Market Research.
Land Mobile Radio (LMR) has been one of the most preferred communication networks for a variety of industries in the past few years. However, various limitations of LMR systems, such as short network range and high capital investment, are responsible for the growth of push-to-talk over cellular technology.
Push-to-talk over cellular removes the limitation of short network range and provides users a wide network range without the need to develop and maintain a costly and complex network. Due to significant benefits of push-to-talk technology, these systems are now widely used in a variety of industries, which include public safety, construction, utilities, and transportation. Thus, several advantages of push-to-talk over traditional LMR technology is one of the major factors fuelling market growth.
Public sector and defence sectors are using push-to-talk services for safety level, optimum security, and ease of communication. There is an increase in demand for PTT services with LMR networks in these 2 sectors, and this results in opening new opportunities for push-to-talk solution providers. Defence sectors are using phones as walkie-talkies with unlimited range. This need is expected to create potential growth opportunities for push-to-talk services.
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Key Takeaways from Market Study
- Mobile devices are currently holding a large part of the market share, and are estimated to continue their dominance over the forecast period.
- Long-Term Evolution (LTE) devices are dominating the market, and are anticipated to expand at a CAGR of 12.2% from 2021 and 2031. Due to significant benefits of push-to-talk technology, these systems are now widely used in a variety of industries such as public safety, construction, utilities, and transportation.
- Demand for PTT solutions in public safety and security industry is anticipated to grow at a significant rate over the forecast period. The security segment accounted for highest share in push-to-talk over cellular market as the technology is continuously helping in improving interoperable capabilities.
- Europe push-to-talk over cellular market is expected to register a high CAGR, due to an increase in the number of mobile workforce and continuous developments in telecommunication infrastructure.
- The market for PTToC in South Korea and the U.K. is expected to surge ahead at growth rates of around 13% and 16%, respectively.
- PTToC integration in Canada is anticipated to witness strong growth rate of over 11% between 2021 and 2031.
- Further, the Mexico market for push-to-talk over cellular is projected to grow at are mark able market share of close to 41% through 2031.
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"Deployment of 5G services have already been introduced in developed regions, which will support faster mobile communication. Thus, PTToC solution providers can focus on developing advanced solutions through collaboration and partnerships in order to expand their operations in these regions," says a Persistence Market Research analyst.
Implementation of PTToC Technology by Governments and Disaster Management Agencies
Governments are putting efforts to boost push-to-talk over technology to prevent the transmission of COVID-19 infectious diseases. The need for push-to-talk over technology is continuously growing as the technology is getting used by the government in containment zones of COVID-19. The purpose for using this technology is for two-way communications.
Disaster management agencies are using push-to-talk over technology for coherent communications services with high-quality audio support in hotspot areas, which is anticipated to drive the utility for push-to-talk over cellular in the coming years. Due to COVID19 as well as in general, governments of developed and developing countries have already invested in the services of push-to-talk over technology.
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More Valuable Insights
Persistence Market Research's report on the push-to-talk over cellular (PTToC) market is segmented into four major sections –component (equipment – mobile devices, network devices, ruggedized device, hybrid devices, and accessories, software – carrier integrated PTT solution, OTT PTT solution, services – network services, integration and deployment services, maintenance and support services), device type (LMR, LTE) industry (public safety & security, construction, energy & utility, transportation & logistics, manufacturing , defense, hospitality, and others), and region (North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa), to help readers understand and evaluate lucrative opportunities in the market.
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