Push-to-Talk Market To Generate Revenue worth $73.0 Billion by 2030
- Published: March 2024
The global push-to-talk market is projected to generate USD 73.0 billion revenue by 2030, advancing at a CAGR of 10.5% during 2024–2030. The growth of the market is due to the application of this technology in various industries, such as government & public safety, aerospace & defense, transportation & logistics, manufacturing, construction & mining, energy & utilities, travel & hospitality, and healthcare.
The surging interest of public safety organizations in advanced PPT technologies will drive the market. The COVID-19 also drove the adoption of push-to-talk over cellular (PoC) technology for public safety and security. Further, these devices are being rapidly adopted by government agencies, such as disaster management agencies and rescue operations teams. Moreover, the growing pace of advancements in technologies such as LTE and 5G is expected to offer a lucrative opportunity in this market.
Furthermore, the surge in the security and public safety expenditure by governments is creating an opportunity for this market. The growing instances of terrorist activities and security breaches, strong need for the enforcement of the law to ensure the safety of the public amid COVID-19, and surging need for security training and awareness drive the market. Moreover, the growing investments by governments for the upgradation and modernization of their legacy systems, to advance operational performance and reduce the associated costs, are predicted to quicken the adoption of these solutions over the prediction period. For instance, according to the U.S. Bureau of Economic Analysis, the federal government spends USD 451 billion on public order and safety every year.
Government & Public Safety Category Dominates Market
Based on vertical, the government & public safety category dominated the market, with a share of 35%, in 2023, and it is also expected to experience a strong CAGR during the projection period. This is owing to the growing demand for push-to-talk devices for public safety. Moreover, the growing concern over cross-border terrorist activities, rising need need for security training and awareness raising, and increasing spending on law enforcement are behind this category’s dominance.
PTT devices are preferred by government & public safety organizations as they provide near-instantaneous communication between two or more radios. PTT is ideal for unit-to-unit communication outside the network coverage area. Moreover, the most-advantageous features of these devices are attack time and volley time.
North America Holds Largest Market Share
Geographically, North America held the largest share, of around 45%, in 2023, and it is expected to grow at a robust CAGR during the forecast period. This is because the PTT technology has been extensively integrated into the daily operations of businesses across numerous industries across North America. Moreover, the upgradation of the commercial, residential, and industrial infrastructure and the existence of a large number of key players propel the regional market. Further, the growing stringency of the regulations in the region for the security and safety of people is a key market driver.
Some of the major players are AT&T Inc., Bell Canada, ESChat, Wireless Zeta Telecomunicaciones SL, Motorola Solutions Inc., Qualcomm Technologies Inc., Hytera Communications Corporation Limited, Telefonaktiebolaget LM Ericsson, Iridium Satellite LLC, and L3Harris Technologies Inc.