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Push to Talk Market Growing at CAGR of 9.0% | Key Players AT&T, Verizon, Sprint, Iridium, Qualcomm

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Push to Talk Market Growing at CAGR of 9.0% | Key Players AT&T, Verizon, Sprint, Iridium, Qualcomm

February 19
09:00 2020
Push to Talk Market Growing at CAGR of 9.0% | Key Players AT&T, Verizon, Sprint, Iridium, Qualcomm

AINA Wireless (US), AT&T (US), ESChat (US), Iridium (US), Motorola Solutions (US), Orion (US), Qualcomm (US), Sprint (US), Verizon Wireless (US), VoiceLayer (US), Voxer (US), Zebra (US), Zello (US), and Zinc by ServiceMax (US)
Push to Talk Market by Component (Hardware, Solutions, and Services), Network type (LMR and Cellular), Organization Size (SMEs and Large Enterprises), Vertical (Public Safety, Government and Defense, Commercial), and Region – Global Forecast to 2024

MarketsandMarkets forecasts the global Push to Talk Market size to grow from USD 25.0 billion in 2019 to USD 38.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period. Major factors expected to drive the growth of the PTT market include the demand for PTT over Cellular (PoC), proliferation of rugged and ultra-rugged smartphones, need for driver safety, and transition of Land Mobile Radio (LMR) systems from analog to digital.

The First Responder Network Authority Board will receive approximately USD 18.0 billion in payments from AT&T over the 25-year-term of the FirstNet contract. The Board intends to re-invest approximately USD 16.0 billion of this receivable to prepare FirstNet’s LTE core ahead of the planned 5G rollout. The Board members have agreed to start acquisition procedures and begin another effort to deploy 72 network assets to support communications during emergency operations. This investment is intended to increase coverage at critical locations, both indoor and outdoor. Similarly, T-Mobile has announced the Connecting Heroes program that would give public safety access to free broadband talk, and text and smartphone data over its 5G network for 10 years. These initiatives, however, in the nascent stage, will offer a great revenue  opportunity for PTT vendors leveraging cellular networks such as 4G LTE and 5G.

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Among components, the solutions segment is expected to grow at a higher growth rate during the forecast period. The solutions segment has a significant influence on the PTT market growth. The demand for PoC across major business functions and verticals is driving this growth and these solutions are intended to augment the capabilities of the existing LMR networks.

Under network types, the cellular network segment is expected to witness a higher growth rate during the forecast period. PoC is widely adopted by enterprise verticals and the adoption is gaining traction in the public safety and government and defense verticals too. The benefits that a PoC  network provides include reduced costs, increased productivity, enhanced security, wide coverage, and more functionalities such as GPS tracking and sharing photos, texts, and videos. These sought-after-benefits are driving the cellular network segment.

In terms of geographic coverage, the PTT market has been segmented into 5 regions, namely, North America, Asia Pacific (APAC), Europe, Latin America, and MEA. APAC is expected to record the highest growth rate during the forecast period, due to the rising adoption of PoC across enterprise verticals such as transportation and logistics, travel and hospitality, and construction. The region is also the fastest adopter of smartphones, which further augment the adoption of PoC solutions. Additionally, major countries of APAC such as China, Japan, and Singapore have the best telecom infrastructure that allows for seamless connectivity via the PTT solution.

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The major PTT vendors include AINA Wireless (US), AT&T (US), Azetti Networks (Spain), Bell Canada (Canada), ESChat (US), GroupTalk (Sweden), Hytera (China), iPTT (England), Iridium (US), Motorola Solutions (US), Orion (US), Qualcomm (US), Sprint (US), Simoco Wireless Solutions (England), TAIT (New Zealand), Telstra (Australia), Verizon Wireless (US), VoiceLayer (US), Voxer (US), Zebra (US), Zello (US), and Zinc by ServiceMax (US). These players have adopted various strategies to grow in the PTT market. Partnerships and new product launches have been the most dominating strategies adopted by major players from 2017 to 2019, which helped them innovate their offerings and increase their customer base.

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