North America is anticipated to dominate the market with a market share of approximately 35%. The increasing number of safety concerns in these industries along with the need to increase the efficiency and manage work order and decrease the downtime is driving the market in this region. APAC region would be the fastest growing market for Industrial radios registering a CAGR of 11% during 2018-2023.
What is Industrial Radio?
The industrial radio is a two way wireless communication device. The device is also called as a handheld transceiver (HT) or a walkie-talkie. The system operates as half duplex communication device where two way simultaneous communication is not possible. Majority of the Industrial radios do not need licenses to operate unlike the devices used in for security purposes such as defense and security which need to be registered and operated only within a closed band. With the presence of the device from decades, the technological advancements in the analog segment have been limited. In contrast the digital industrial technology is experiencing immense technological advancements in terms of increasing sound quality, increased build quality, reliable battery life, etc. The digital radio communication has been prominent in the industrial segment.
Industrial Radio Market
Market Research and Market Trends of Industrial Radio Unit Ecosystem
Multifunctional industrial radio combines various features such as mobile data entry device, a smartphone and a (Industrial radio) walkie talkie, which would enable the clients to bring efficient services. This kind of multifunctional technological enables the users to perform multiple tasks and also reduces the downtime.
Increasing demand for advanced communication in manufacturing and metal processing units has resulted in evolution of technological advancements in industrial handheld devices, especially in economically developed markets such as United States. The retail sector would be a major market along with the manufacturing, transport and energy sector in the North American region.
Industrial radio manufacturers are trying to bring in more advanced devices which would be able to operate in both analogue and digital mode. This enables the consumers to switch technologies at their own pace.
Who are the Major Players in the Industrial Radio Market?
The companies referred to in the market research report includes Tait Radio Communications, JVC Kenwood Corporation, Motorola Solutions. Inc., Relm Wireless Corporation, Harris Corporation, Hytera Company. More than 10 Companies are profiled in this Research Report.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
Key Takeaways from this Report
- Evaluate market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level – for product types, end use applications and by different industry verticals.
- Understand the different dynamics influencing the market – key driving factors, challenges and hidden opportunities.
- Get in-depth insights on your competitor performance – market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Analyze the sales and distribution channels across key geographies to improve top-line revenues.
- Understand the industry value chain with a deep-dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.
- Get a quick outlook on the market entropy – M&A’s, deals, partnerships, product launches of all key players for the past 4 years.
- Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.
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