by Terrestrial trunked radio (TTR) systems are used for digital two-way radio communications, allowing instant one-to-many or one-to-one voice communications. TTR systems provide better management of radio spectrum compared to single-user systems through dynamic sharing of a small set of channels among a large group of users. Such systems offer advantages such as increased capacity, improved coverage due to central antenna solutions, secure encrypted communications, and interoperability between users. TTR is widely used by organizations requiring communication over a wide area, such as public safety agencies, governmental bodies, commercial enterprises, transportation/logistics companies, and construction groups.
The global Terrestrial Trunked Radio Market is estimated to be valued at US$ 5.25 Bn in 2023 and is expected to exhibit a CAGR of 9.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends in the terrestrial trunked radio market has been the transition from analog systems to digital systems. Digital trunked systems offer several advantages such as greater capacity, better audio quality, advanced features, enhanced security through encryption, and interoperability through standards-based architecture. Many countries and organizations around the world are upgrading their existing analog terrestrial trunked radio infrastructure to digital platforms. For example, nationwide projects such as Terrestrial Trunked Radio (TETRA) in Europe and Project 25 (P25) in the United States. Transition to digital helps organizations implement advanced IP-based services like data transfer, GPS location tracking, and integrated wireless broadband to improve field operations. This shift towards digital terrestrial trunked systems will continue to drive market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the terrestrial trunked radio market is moderate due to high capital requirement, high switching costs, need for wide distribution channels and high competition due to presence of global and regional players.
Bargaining power of buyers: The bargaining power of buyers in terrestrial trunked radio market is high due to availability of alternatives and presence of a large number of global players offering similar systems.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to presence of many component manufacturers and suppliers in the market.
Threat of new substitutes: The threat of substitutes is moderate as there are limited substitutes for terrestrial trunked radio systems.
Competitive rivalry: The competitive rivalry in the market is high due to presence of global players offering similar systems and services.
Key Takeaways
Global Terrestrial Trunked Radio Market Demand is expected to witness high growth. The market in Asia Pacific region is expected to grow at fastest CAGR during the forecast period due to increasing adoption of advanced terrestrial trunked radio systems in various sectors like government, transportation, utilities, oil and gas etc. in countries like China, India.
Regional analysis comprises: The terrestrial trunked radio market in North America is expected to hold significant market share during the forecast period. This is attributable to early adoption of advanced communication technologies and presence of established infrastructure in the region.
Key players related content comprises: Key players operating in the terrestrial trunked radio market are Motorola Solutions, JVCKENWOOD, Hytera Communications, Sepura, Simoco Wireless Solutions, Tait Communications, Codan Radio Communications, Cisco Systems, Harris Corporation, PowerTrunk. Motorola Solutions and Hytera Communications hold major market share in the global terrestrial trunked radio systems market due to their strong brand portfolio and wide distribution network across the globe.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
