Pune, India, 11 Feb. 2022 (GLOBE NEWSWIRE) — The world terrestrial trunked radio (TETRA) market the size should grow in size reaching $9.78 billion by 2028 while posting a CAGR of 18.50% between 2021 and 2028. In its report entitled “Terrestrial Trunked Radio (TETRA) Market, 2021-2028“, Fortune Business Insight™ mentions that the market was at $2.46 billion in 2020 and 2.98 billion USD in 2021.
TETRA is specifically designed for government agencies such as emergency services. It is mostly used by military personnel. It operates on a much lower frequency and gives a longer range. This allows a high level of geographical coverage with a smaller number of transmitters. TETRA devices can also be connected via smartphones and other devices via Bluetooth 5.0. Increase in military combat missions and surveillance activities propelled the growth of the market.
Rising demand for defense IT spending in Asia-Pacific
Growing defense budget and increasing expenditure on military and combat capabilities in developing countries is expected to drive the growth of the terrestrial trunked radio (TETRA) market. For example, many governments of Asian countries invested around $505 billion for the defense sector in 2020. This was 4.3% more than the previous year. In addition, governments are also working on cybersecurity. For example, in June 2020, the Australian government spent $1.35 billion to improve the country’s cybersecurity capabilities over the next decade. These factors will propel the demand in the near future.
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List of Key Players Profiled in the TETRA Industry Report
- Airbus Defense and Space Corporation (UK)
- Motorola Solutions, Inc. (USA)
- Hytera Communications Corporation Limited (China)
- JVCKENWOOD Corporation (Japan)
- Simoco (UK)
- Sepura PLC (USA)
- DAMM Cellular Systems A/S (Denmark)
- Rohill Engineering BV (Netherlands)
- BiTEA Limited (UK)
- CONSORT DIGITAL PRIVATE LIMITED (UK)
- Radlink Communications (Australia)
Market segmentation :
By Operation, it is divided into split mode operation and direct mode operation. By component, it is divided into hardware and software. By mounting type, it is divided into portable and mobile (vehicle-mounted). By application, it is segmented into industrial services, utilities, transportation, mining, military, homeland security, fire and emergency medical services. Finally, based on region, the market is categorized into North America, Europe, Asia-Pacific, and Rest of the World.
What does the report provide?
The market report provides a detailed analysis of several factors such as key drivers and restraints which will impact the growth. Additionally, the report provides information on regional analysis which covers different regions, helping the market growth. This includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships and collaboration to help in the growth of the market.
Europe will dominate thanks to the presence of several TETRA suppliers in the region
Europe is expected to remain at the forefront and hold the highest position in the market over the forecast period owing to the presence of multiple TETRA device vendors. Also, the availability of advanced network infrastructure and various vendors such as Airbus Defense and Space Corporation, Inc., Sepura PLC, Rohill Engineering BV, and Bitea Limited is expected to boost the regional market. The market in the region stood at USD 0.95 billion in 2020.
Asia-Pacific is expected to exhibit significant terrestrial trunked radio (TETRA) market share in the coming years, owing to the government’s continuous development on improving the military communication ecosystem in the region. Additionally, increasing investment and expenditure for the establishment of Software Defined Radio (SDR) for efficient data transmission and clear communication in the battlefield is driving the regional market.
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Key players in new launches to enhance market growth
The market is amalgamated by major companies struggling to maintain their position by emphasizing new launches. For example, in January 2021, Motorola Solutions unveiled unparalleled versatility for frontline workers with the new TETRA radio. This will help the business with critical technology and deliver smart connectivity to frontline workers. Such tactics adopted by crucial players are estimated to enhance its market opportunities.
Detailed Table of Contents:
- Search scope
- Market segmentation
- Research Methodology
- Definitions and assumptions
- Market dynamics
- Market factors
- Market constraints
- Market opportunities
- key ideas
- Key Industry Developments – Mergers, Acquisitions and Partnerships
- Latest technological advances
- Analysis of the five forces of carriers
- Supply chain analysis
- Global Terrestrial Trunk Radio (TETRA) Market Analysis, Outlook and Forecast, 2017 – 2028
- Main results/summary
- Market Analysis, Outlook and Forecast – By Operation
- Operation in shared mode
- Direct mode operation
- Market Analysis, Insights & Forecasts – By Mount Type
- Market Analysis, Insights & Forecast – By Application
- homeland security
- Emergency medical services
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