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dWeb.News Article from Daniel Webster dWeb.News

By Daniel Webster, dWeb.News Publisher

Noida, Nov. 23, 2021 (GLOBE NEWSWIRE) — The growing number of industrial and construction projects across the world have demonstrated rising demand for more efficient yet budget-frienfly alternatives of communications, which has led to the growing adoption of walkie talkies. In-person events, such as the forthcoming ones, are driving the demand for walkie talksies as a way to keep safety protocols in place. This is expected to be the driving force behind the growth of the global walkie chatie market …..

A study, recently conducted by the strategic consulting and market research firm BlueWeave Consulting, revealed that global walkie talkie market was worth USD 3.3 billion in 2020. According to the study, the market is estimated to grow at the CAGR of 8.6%, earning revenue of around USD 5.9 billion by the end of 2027. The factors attributable to the growth of the walkie talkie market include the growing number of criminal activities across the residential and commercial areas, the rising budget of security equipment in the residential societies and the growing user-friendly approach of the walkie talkie. These factors have led to an increase in walkie-talkies.

In addition, because of geopolitical tensions, many countries have increased their military equipment budget in recent years. This has led to the development of high-performance walkie-talkies that are more reliable, signal-friendly, and easier to use in case of a terrorist attack or disaster. These are the main factors driving the growth of global walkie-talkie market.

Increasing rate of industrialization is driving the growth of the global walkie talkie market

The rapid rate of industrialization has become a pivotal factor contributing to the growth of the global walkie talkie market. The United States is currently on a construction frenzy, with some of the most important projects awaiting their turn to meet walkie-talkie demand. The Amazon Distribution Center in Detroit (with 3.8 million-square-feet space costing around USD 400), Logistic Center at I-95, Delaware, are some of the largest industrial and logistics projects that started in 2021. Walkie talkies are a cheaper and more effective alternative to a mobile phone. They make excellent communication devices at these sites. Some of the largest industrial and logistics projects that began in 2021 are the Amazon Distribution Center in Detroit (with 3.8 million square feet of space costing roughly USD 400) and the Logistic Center near I-95 in Delaware. Walkie talkies make excellent communication devices in such places because they are cheaper and more effective than a mobile phone. It helps to reduce operational costs and allows organizations to use that money for other projects. Large construction projects in deserted areas are driving up demand for these communication devices. This is positively contributing to the global walkie-talkie market’s growth.

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Rising number of cultural and sports events across the globe are fueling the demand walkie-talkies

The global walkie talkie market is also being fueled by the growing number of cultural and sporting events taking place throughout the world. In light of the growing number of cultural events such as the Dubai Expo 2020, Winter Olympics, Super Bowl, and others, a survey of 550 event organizers found that 80% of them were eager to start an in-person event in the next years. These events will increase the demand for walkie-talkies to keep the event’s safety standards in place.

Impact of COVID-19 in the industry

The sudden outbreak of the COVID-19 pandemic has negatively affected the growth of the global walkie-talkie industry. The major industries involved in the manufacture and production of components for the production of the walkie talkie stopped production. The global supply side of the walkie-talkie market has been also affected. Manufacturers suffered significant losses as a result of the disruptions to supply lines. In addition, residential and commercial construction projects were halted as a result of the rising COVId-19 cases, which had a significant impact on the worldwide walkie talkie market’s demand.

An influx of COVID-19 cases hampered hospital authorities’ ability to maintain decorum, resulting in a growing demand for walkie talkies for communicating with walkie talkies, resulting in some growth prospects for the global walkie talkie market.

The offline segment occupies the largest share of global walkie talkie market

Based on distribution channels, the global walkie talkie market is grouped into online channels and offline channels. The largest market share in global walkie-talkie market has been held by the offline channel segment. Because walkie talkies are a safety device, there is more regulation in this market than other markets. These products can be found across all B2B sales channels and distribution channels. Many walkie-talkies also have strict guidelines that end-users must follow. A walkie-talkie that is marked “FRS/GMRS”, for example, may require a valid FCC license to operate. If the device is labelled Family Radio Service (FRS), the user can use the channels as they wish. End-users prefer to use an offline distribution channel in the global talkie market.

North America is expected to witness significant growth in the global walkie talkie market during the forecast period

Based on regions, the global walkie talkie market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. The North American region is the most prominent in the global walkie-talkie market. There are many factors that drive the demand for walkie-talkies in this region, including the growing number of manufacturers of radio walkie talking devices, live events, criminal activity, major industrial projects, and the development of walkie technology with the advent of IoT. The region has a larger share of the global walkie-talkie market due to its ease of use and flexible licensing requirements.

Global Walkie Talkie Market – Competitive Landscape
The key players in the global walkie talkie market are Entel Group HongkongRetevis Trade Co., Ltd., Icom Inc., Hytera Communications Corporation Limited, JVCKenwood USA Corporation, Motorola Solution, Inc., Kirisun Communication Co., Ltd., Shenzhen HQT Science & Technology Co., Ltd., Uniden Holdings Corporation, Tait Communications, Yaesu USA, Cobra Electronics, Garmin Ltd., Fujian Baofeng Electronics Co., Ltd., DEWALT, Craftsman and other prominent manufacturers. Global walkie-talkie market is fairly well-consolidated. Some players have a greater share of the market and can influence the price of walkie-talkie products. It is therefore difficult for new players to gain a larger share of the market. Some players look forward to forming partnerships and agreements to increase their share of the global walkie-talkie market.

In August 2021, Motorola Solutions Inc. announced the launch of APX NEXT(tm) for Brazilian users. The next-gen mission-critical Project 25 (P25) happens to be a public safety radio which offers a touchscreen feature with a simplified user-interface for public safety. You can use the device in bad weather conditions if you have gloves. This will allow for faster navigation.

Do not miss the business opportunity of the global walkie talkie market. Our analysts can provide valuable insights and help you grow your business.

The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global walkie talkie market. The report also details the factors that will determine market size. This report will provide information on the latest technology trends in the global walkie-talkie market and industry insights that will help decision-makers make informed strategic decisions. The report analyzes market growth drivers and challenges.

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