the global PTT market size is forecasted to grow from USD 25.0 billion in 2019 to USD 38.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.0% from 2019 to 2024
NEW YORK, Jan. 14, 2020 /PRNewswire/ --
Growing demand for PTT over Cellular (PoC) to drive the demand for Push to Talk (PTT)
The global PTT market size is forecasted to grow from USD 25.0 billion in 2019 to USD 38.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.0% from 2019 to 2024. Major factors expected to drive the growth of the PTT market include the demand for PoC, proliferation of rugged and ultra-rugged smartphones, need for driver safety, and transition of Land Mobile Radio (LMR) systems from analog to digital.
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By organization size, the large enterprises segment to account for a higher share of the PTT market during the forecast period
Enterprises with more than 1,000 employees are categorized as large enterprises.Large enterprises are the early adopters of the PTT technology, as they have a high number of field-related works and possess strong budget capabilities.
They are significantly investing in PTT solutions and associated services to efficiently manage their workforce communication.They majorly focus on the efficiency of connectivity services, as they tend to be more risk-averse in their business interactions.
Additionally, they are more geographically dispersed with a high scale of business operations, which involves the need for real-time and secured communications, and ability to share multimedia contents.The emergence of cloud-based PTT also allows for instant real-time communication between workforce teams by using their own devices.
The PoC solution is device-agnostic, and hence, the large enterprises can leverage their employees' devices to install PoC applications in these devices for communication purposes.
Under network types, the LMR segment to hold a larger chunk of the PTT market share during the forecast period
The LMR network type is expected to hold a higher market share, owing to the major investments in the LMR system from commercial, defense and public safety, and transportation sectors.Despite the availability of several inexpensive radio products built over P25 (phase I and phase II) and radio technologies, it is extremely difficult for manufacturers to follow the industry standards, such as TETRA and DMR, to develop their LMR products.
The development of LMR over these technologies requires extensive testing, which increases the overall development cost of the products.
Among regions, Asia Pacific to grow at the highest CAGR during the forecast period
The APAC PTT market is expected to record the highest growth rate during the forecast period, due to the rising adoption of PoC across enterprise verticals, such as transportation and logistics, travel and hospitality, and construction.The region is also the fastest adopter of smartphones, which further augment the adoption of PoC solutions.
Additionally, major countries of APAC, such as China, Japan, and Singapore, have the best telecom infrastructure that allows for seamless connectivity via the PTT solution.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the PTT market.
The breakup of the profiles of the primary participants is given below:
-- By Company Type: Tier 1 - 25%, Tier 2 - 40%, and Tier 3 - 35%
-- By Designation: C-Level - 35%, Directors - 25%, Managers-20%, and Others -20%
-- By Region: North America - 40%, Europe - 35%, APAC - 20%, and RoW - 5%
The following key PTT vendors are profiled in the report:
-- AINA Wireless (US)
-- AT&T (US)
-- Azetti Networks (Spain)
-- Bell Canada (Canada)
-- ESChat (US)
-- GroupTalk (Sweden)
-- Hytera (China)
-- iPTT (England)
-- Iridium (US)
-- Motorola Solutions (US)
-- Orion (US)
-- Qualcomm (US)
-- Sprint (US)
-- Simoco Wireless Solutions (England)
-- TAIT (New Zealand)
-- Telstra (Australia)
-- Verizon Wireless (US)
-- VoiceLayer (US)
-- Voxer (US)
-- Zebra (US)
-- Zello (US)
-- Zinc by ServiceMax (US)
Research Coverage
The PTT market is segmented by component (hardware, solutions, and services), organization size, network type, vertical, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overview; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the PTT market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways:
-- It comprehensively segments the PTT market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions.
-- It would help stakeholders understand the pulse of the market and provide information on the key market drivers, challenges, and opportunities.
-- It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes competitor ecosystem, new service developments, partnerships, and acquisitions.
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