The global Industrial Radio Market is estimated to surpass $14 billion mark by 2023 growing at an estimated rate of more than 8% during 2018 to 2023. In 2017, end user segments such as oil and gas, chemical industry and other hazard prone industries collectively accounted for around 30% share of the global industrial radio market owing to stringent labor safety regulations in such locations.
North America is anticipated to dominate the market with a market share of approximately 35%. The increasing number of safety concerns in these industries along with the need to increase the efficiency and manage work order and decrease the downtime is driving the market in this region. APAC region would be the fastest growing market for Industrial radios registering a CAGR of 11% during 2018-2023.
What is Industrial Radio?
The industrial radio is a two way wireless communication device. The device is also called as a handheld transceiver (HT) or a walkie-talkie. The system operates as half duplex communication device where two way simultaneous communication is not possible. Majority of the Industrial radios do not need licenses to operate unlike the devices used in for security purposes such as defense and security which need to be registered and operated only within a closed band. With the presence of the device from decades, the technological advancements in the analog segment have been limited. In contrast the digital industrial technology is experiencing immense technological advancements in terms of increasing sound quality, increased build quality, reliable battery life, etc. The digital radio communication has been prominent in the industrial segment.
Market Research and Market Trends of Industrial Radio Unit Ecosystem
- Multifunctional industrial radio combines various features such as mobile data entry device, a smartphone and a (Industrial radio) walkie talkie, which would enable the clients to bring efficient services. This kind of multifunctional technological enables the users to perform multiple tasks and also reduces the downtime.
- Increasing demand for advanced communication in manufacturing and metal processing units has resulted in evolution of technological advancements in industrial handheld devices, especially in economically developed markets such as United States. The retail sector would be a major market along with the manufacturing, transport and energy sector in the North American region.
- Industrial radio manufacturers are trying to bring in more advanced devices which would be able to operate in both analogue and digital mode. This enables the consumers to switch technologies at their own pace.
Who are the Major Players in the Industrial Radio Market?
The companies referred to in the market research report includes Tait Radio Communications, JVC Kenwood Corporation, Motorola Solutions. Inc., Relm Wireless Corporation, Harris Corporation, Hytera Company. More than 10 Companies are profiled in this Research Report.
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