Pune, India, Sept. 19, 2022 (GLOBE NEWSWIRE) -- Fortune Business Insights has published latest forecast for push to talk market in their report titled, "Push-to-Talk Market Forecast, 2020-2027". As per the report, the global market size was USD 12 billion in 2019. The global home automation market size is projected to USD 25.22 billion in 2027 at a CAGR of 10% in the forecast period, 2020-2027.
Push-To-Talk (PTT) is a communication technology that involves instant conversation between two wireless cellular networks. It involves using a button to switch the device from a voice transmission mode to a voice reception mode. This technology is a drastic improvement over the now sparsely used walkie-talkies across the globe. Additionally, emergence of technology has enabled a multi-pronged communication benefits wherein multiple parties can communicate with each other and have a conversation over a cellular network. Increasing development in telecommunications has propelled the demand for PTT as several large wireless carriers are coming out with their own versions of the PTT services.
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Key Industry Developments:
March 2020: Sweden-based telecommunications leader, Ericsson, announced that it will be acquiring 100% stake in the Spanish PTT solutions expert, Genaker. The acquisition will consolidate Ericsson's position as a leading Mission Critical PTT (MC-PTT) provider to public safety agencies.
October 2019: ESChat launched its much-acclaimed broadband-based push-to-talk service on T-Mobile's network. T-Mobile will now be offering ESChat to its customers in the private and public sectors, without any restrictions on interoperability of services.
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2020 to 2027 |
| Forecast Period 2020 to 2027 CAGR | 10% |
| 2027 Value Projection | USD 25.22 Billion |
| Base Year | 2019 |
| Push-to-Talk Market Size in 2019 | USD 12 Billion |
| Historical Data for | 2016 to 2018 |
| No. of Pages | 160 |
| Segments covered | Component, Network Type, Enterprise Size, Sector Deployment, Enterprise Size, Sector and Geography |
| Push-to-Talk Market Growth Drivers | Introduction of Technologically Advanced Products to Drive the Market |
| Steady Movement towards 5G to Fuel Market Growth | |
| Technological Advancements to Aid the Market in North America | |
| Tactical Acquisitions and Strategic Collaborations to Characterize Market Competition |
The coronavirus pandemic has forced governments to impose nationwide lockdown and social distancing norms to contain the spread of the infection. While majority of private sector employees are working from home, public safety agencies have to work on the field and coordinate with each other to manage the crisis. As a result, market players are providing their advanced communications platforms to support these agencies in optimizing their efforts to mitigate this crisis. For example, in April 2020, ESChat announced that it will be providing mission critical PTT solutions to Emergency Medical Service and law enforcement personnel across multiple states in the US. Thus, the COVID-19 outbreak will strongly favor the PTT market growth during the current year.
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Drivers and Restraints:
Introduction of Technologically Advanced Products to Drive the Market
Voice communication has evolved drastically over the past decade. Emergence of fully equipped IP-based PTT communication technology over the radio is the testimony to the massive advancement in field of telecommunication. Communication is efficient and instant than ever before and has paved way for the companies to introduce innovative products that are technologically advanced across the globe. For instance, in April 2020, ESChat publicly announced its launch of ESChat broadband PTT service for the TELUS wireless network by completing the formalities of a commercial contract between the two companies that was forged in MAY 2019. Marshall Berkin, Vice President of TELUS, said on the sidelines of the development that the ESChat PTT service would harness the power of instant interaction and compatibility to enable professional group communication safe and reliable for our consumers. He further added, "Our collaboration with ESChat will propel the business to empower the mobile workforces while enabling us to be agile and save costs."
Furthermore, according to the report, the companies are striving to gain maximum market share by adopting strategies such as signing contracts, joint ventures, and collaboration during the forecast period. For instance, in May 2020, Motorola Solutions announced that it has secured a fresh contract from the Israeli government to deploy new broadband push-to-talk (PTT) solution. According to the tender, the company is expected to provide over 10,000 devices to Israel that are powered by the WAVE Motorola solutions along with installing, operating, and maintaining the PTT communication services. Furthermore, the WAVE technology will boost the efficiency of operations among the government officers and the field personnel.
Highlights of the report:
- Detailed individual and collective study of all the market segments;
- Thorough analysis of the factors driving and retarding market growth;
- Comprehensive assessment of the regional developments influencing the market; and
- In-depth profiling and examination of the key market players and their dominant strategies.
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Regional Analysis:
Improving Communication Infrastructures in Asia-Pacific to Augment Growth
Among the regions, Asia-Pacific that generated USD 2.91 Billion in 2017 is anticipated to be at the forefront during the forecast period. Factors such as increasing collaboration strategies among the companies and the distributors in the region will propel it to gain maximum global push-to-talk market revenue. Furthermore, constant development of communication infrastructures and growing impetus of public sector safety in countries such as China and India will bode well for the market growth in the forthcoming years.
Competitive Landscape
Tactical Acquisitions and Strategic Collaborations to Characterize Market Competition
Two of the most preferred routes currently being preferred by market players to expand their footprint and broaden their customer base are acquisitions and collaborations. These strategies are enabling companies to gain tactical advantage in the market over other competitors and are also diversifying their range of offerings.
List of Key Companies Operating in the Push-To-Talk Market are:
- AT&T, Inc.
- Qualcomm Technologies, Inc.
- Verizon
- Motorola Solutions
- Kyocera Corporation
- Mobile Tornado
- Sprint Corporation
- Bell Canada
- Simoco Wireless Solutions
- Sonim Technologies Inc.
- Telo Systems
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Major Table of Contents:
- Global Push-to-Talk Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size and Forecast – By Component (Value)
- Devices
- Rugged
- Standard
- Software (Dispatching & Monitoring Software)
- Cloud
- On-premises
- Services
- Consulting
- Implementation
- Support and Maintenance
- Devices
- Market Size and Forecast – By Network Type (Value)
- Push-to-talk over Cellular (PoC)
- Land Mobile Radio (LMR)
- Push to Talk Market Size and Forecast – By Enterprise Size (Value)
- SMEs
- Large Enterprises
- Market Size and Forecast – By Sector (Value)
- Public Safety & Security
- Government & Defense
- Transportation & Logistics
- Energy & Utility
- Travel & Hospitality
- Others (Manufacturing, Construction, etc.)
- Market Size and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
- North America Push-to-Talk Market Size Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size and Forecast – By Component (Value)
- Devices
- Rugged
- Standard
- Software (Dispatching & Monitoring Software)
- Cloud
- On-premises
- Services
- Consulting
- Implementation
- Support and Maintenance
- Devices
- Market Size and Forecast – By Network Type (Value)
- Push-to-talk over Cellular (PoC)
- Land Mobile Radio (LMR)
- Market Size and Forecast – By Enterprise Size (Value)
- SMEs
- Large Enterprises
- Market Size and Forecast – By Sector (Value)
- Public Safety & Security
- Government & Defense
- Transportation & Logistics
- Energy & Utility
- Travel & Hospitality
- Others (Manufacturing, Construction, etc.)
- Market Size and Forecast – By Country (Value)
- United States
- Canada
FAQs
How big is the push-to-talk industry?
The push-to-talk market size was USD 12 billion in 2019
How fast is the push-to-talk market growing?
The push-to-talk market will exhibit a CAGR of 10% during the forecast period, 2020-2027
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