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Smart Radio Market Overview:
The Smart Radio Market size is estimated to reach $8.4 billion by 2030, growing at a CAGR of 18.2% during the forecast period 2024-2030, according to a recent report published by IndustryARC, titled, “Smart Radio Market – By Type (Desktop, Portable), By Application (Commercial Use, Private Use), By Distribution Channel (Online, Offline), By Geography - Global Opportunity Analysis & Industry Forecast, 2024-2030”
Expansion in connected home ecosystems and Emerging markets are expected to create growth opportunities in the market during forecast period.
North America Dominated the Market in 2023:
North America accounted for the largest share of 42% of the Smart Radio Market in 2023 followed by Europe and APAC. The presence of leading technology companies and ongoing advancements in smart home ecosystems further fuel market growth in this region. The combination of these factors positions North America as a leading growth area for smart radios.
Smart Radio Market: Key Takeaways
Integration with Smart Home Ecosystems:
As smart home technology becomes more prevalent, consumers increasingly seek devices that seamlessly connect with their existing smart home systems. Smart radios are being designed to work with platforms like Amazon Alexa, Google Assistant, and Apple HomeKit, allowing users to control their radios using voice commands and integrate them with other smart devices in their homes. This trend enhances user convenience and enriches the overall smart home experience, driving consumer interest and adoption of smart radios.
Enhanced Connectivity Features:
Modern smart radios are incorporating technologies such as Bluetooth, Wi-Fi, and internet radio capabilities to offer a wider range of content and improved user experience. Enhanced connectivity allows users to stream music from various online services, access global radio stations, and easily sync their radios with other devices. This trend reflects the growing consumer preference for versatile and connected audio solutions that provide more than traditional radio functions, contributing to the expansion and innovation in the smart radio market.
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Scope of the Report:
Recent Developments:
- In Dec 2023, Hytera Introduces Intrinsically Safe Smart Radio PNC460U for Enhanced Safety and Productivity. This groundbreaking device, designed for hazardous environments, boasts enhanced safety, open API, intuitive Push-to-talk over Cellular (PoC), and rugged hardware, and has great potential to significantly boost team productivity in challenging settings.
- In Nov 2022, Weavix launches New Smart Radio. walt™ smart radio offers enterprise a software-based solution in the form of hardware to fix the disconnect and technological divide between office and frontline workers. The new design maintains its Class 1 Div. 2 safety certification, along with impressive hardware and software updates.
Smart Radio Market: Competitive Landscape
Key companies profiled in the Smart Radio Market are JUNG.de, Sirius XM Radio, National Public Radio, Logitech, Walt, Motorola Solutions, Hytera, Roberts Radio, Currys, Ruark Audio, and Others.
About IndustryARC™:
IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets.
IndustryARC’s goal is to provide the right information required by the stakeholder at the right point in time, in a format that assists an intelligent and informed decision-making process.
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Mr. Venkat Reddy
IndustryARC
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