Key companies covered in the Push-To-Talk (PTT) Market report include are Sonim Technologies Inc., AT&T, Kyocera Corporation, Telo Systems, Kyocera Corporation, Mobile Tornado, Motorola, Qualcomm Technologies Inc., Bell Canada, Verizon, and Simoco Wireless Solutions among others
PUNE, India, June 4, 2019 /PRNewswire/ -- The Push-To-Talk or PTT Market has a highly competitive vendor landscape. The exponentially rising demand for technology upgrades in smartphones is the chief market driver, finds Fortune Business Insights in a new study, titled "Push-To-Talk (PTT) Market: Global Market Analysis, Insights and Forecast, 2018-2025." The report predicts the global PTT Market to exhibit a robust CAGR of 7.0% between 2018 and 2025. At this pace, it is estimated to reach a value of US$ 45.54 Bn by the end of 2025, as against US$ 26.8 Bn valued in 2017.
Several smartphone manufacturers are offering innovative features such as battery backups, multimedia storage, larger displays, and many more. Among these, push to talk solutions are becoming more versatile and effective as manufacturers aim at incorporating innovative features in their flagship smartphones. Several companies are focusing on manufacturing and developing flexible and innovative PTT devices. For instance, AT&T has planned to manufacture new PTT devices, which will meet the functionality and performance standards of 3rd Generation Partnership Project (3GPP) for mission-critical Push-To-Talk (MCPTT).
3GPP is an organization, which develops protocols for mobile telephony. With the help of new standards, the company can focus on developing reliable and efficient PTT devices. Other players operating in the Push-To-Talk Market are Telo Systems, Qualcomm Technologies, Inc., Kyocera Corporation, Mobile Tornado, Sprint Corporation, Bell Canada, Simoco Wireless Solutions, Sonim Technologies Inc., and Verizon. Fortune Business Insights predicts innovative technologies to enable push to talk phones over cellular phones, thus driving the growth of the PTT Market during 2018-2025.
Rising Number of Mobile and Network Devices to Bode Well for the Market
Fortune Business Insights projects the global PTT Market to grow significantly in the upcoming years owing to the rising adoption of mobile devices across the world. Other than this, rising number of network devices, along with increasing adoption of accessories such as microphones, speakers and others will drive the Push-To-Talk Market. Also, the rising interest of public safety organizations in the upgraded PTT technology and features will boost the PTT Market. In addition to these factors, the rapid adoption of internet usage in some developed and developing countries is a growth engine for the advanced Push-To-Talk Market.
"Improved penetration of communication technology in the developing countries such as India and a few in the Middle East and Africa are expected to boost the PTT Market in the years to come," states a lead analyst at Fortune Business Insights. The growing penetration of land mobile radio systems as per network will allow the PTT Market to grow considerably. The hardware segment, as per component, is likely to lead the Push-To-Talk Market owing to the rise in adoption of high quality and advance PTT devices. The hardware segment covered a market share of 62.6% in the year 2017. Other segments such as software and services will also show considerable growth in the upcoming years. Moreover, software companies are developing innovation applications with numerous features, enabling customers to get an enhanced and reliable PTT device.
Presence of Well-Established Communication Infrastructure to Enable Market Exhibit High Growth in Asia Pacific
The global Push-To-Talk Market in Asia Pacific has a valuation of US$ 2.91 Bn in 2017. The region is expected to remain dominant exhibiting a robust CAGR through 2025. Increasing collaboration between key players and distributors is the key factor driving the PTT Market in this region. Besides this, developing countries like India and China are working continuously in the public security sector. The public security sector includes public safety organizations such as fire, police, para-military, defense, ambulance services, and many others. Fortune Business Insights foresees that such factors will fuel demand for PTT devices in Asia Pacific over the projected period.
The global PTT Market in North America is projected to expand at a relatively higher growth rate between 2018 and 2025. This is primarily ascribed to better health-related policies and national security reasons.
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