May 21, 2020 11:26 AM ET
iCrowd Newswire – May 21, 2020
The push to talk market was valued at US$ 21,382.4 million in 2017 and is projected to reach US$ 55.011.3 million by 2027; it is expected to grow at a CAGR of 11.2% from 2020 to 2027.
The threat of coronavirus resulting the disease COVID-19 is expected to have disruptive impact on the economy, globally. It has disrupted the global supply of goods and services resulting the companies to fulfill the orders. It has resulted to reduced labor on supply side and slow down in the demand for products and services other side. Due to the shutdown of businesses and the fall in the demand of push to talk devices in the first quarter of 2020, the market is negatively impacted. Moreover, due to the falling GDP, the market will have negative impact on the growth rate of push to talk market. However, it is expected that the economy will regain its momentum soon; the market for push to talk will witness a significant demand.
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The global push to talk market is expected to notice a high CAGR during the forecast period. Unlike the regular phone call, push to talk is a communication device operating on one-to-one mobile communication regardless of dialing, ringing, or answering. It allows one person to speak at a time and permits floor control mechanisms. Push to talk systems, as well as services, have continually advanced to allow additional competences and effectiveness of mobile voice communication that are not offered any other communication devices. The market is boosted by growth in the number of mobile and network devices coupled with increased demand for accessories as well as a rise in the production of push-to-talk devices. These systems have evolved in the past few years together with rising technological infrastructure and have overwhelmed the communications technology. Furthermore, presently, these devices are substituting land mobile radio systems. Also, usefulness and mobile workforces controlled by these devices are stimulating market growth.
In Europe, some of the most common use cases for enhanced push-to-talk (EPTT) currently are replacing land mobile radio(LMR) portable devices for employees. These devices can use a non-mission-critical voice solution capable to be incorporated with the current LMR system, so current talk groups are not disrupted. Furthermore, certain mission-critical LMR users are exploring areas in which LTE offers better coverage—chiefly in several in-building scenarios leveraging EPTT as a complementary alternative. For instance, coordinator of the Mission Critical Open Platform (MPOP), Fidel Liberal, stated that several rail and transit agencies in the European region have plans to replace their LMR systems with MCPTT solutions.
Merger & acquisition strategy is commonly adopted by companies to expand their footprint worldwide and meet the growing demand. This strategy is mostly observed in North America and Europe. The players present in the push to talk market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally. Few of the recent acquisitions are listed below;
2020: Zebra Technologies Corporation partnered with Office Depot to offer mobile computing solutions and services to support transform Office Depot’s customer experience and thereby improve operational efficiency.
2019: Sprint collaborated with Sonim Technologies. Under this collaboration, Sonim Technologies launched XP3 rugged flip phone on the Sprint network. This phone is further interoperable with smartphones and field radios utilizing Sprint Direct Connect Plus.
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Keywords: Push to Talk, Push to Talk Market, Push to Talk Market 2020, Push to Talk Market 2027