Terrestrial Trunked Radio Market is Estimated to Witness Robust Growth Owing to Enhanced Coverage Capabilities
Market Dynamics:
The Global Terrestrial Trunked Radio market is expected to witness robust growth over the forecast period owing to enhanced coverage capabilities of TTR systems compared to traditional radio equipment. TTR coverage can extend to large geographical areas with various repeater sites, reducing communication gaps. Furthermore, migration towards digital TTR systems from aging analog systems is another major factor driving market growth. Digital TTR offers improved voice quality, security of communication and seamless network integration capabilities compared to analog systems. However, high infrastructure costs associated with establishing and managing TTR networks as well as availability of alternatives such as LTE communication devices are some factors expected to restrain the market to a certain extent over the forecast period.
Key Takeaways
Global Terrestrial Trunked Radio Market Demand is expected to witness high growth. The market size is projected to reach US$ 5.25 Billion in 2023 and expected to cross US$ 11 Billion by 2030, rising at a CAGR of 9.3% during the forecast period.
Regional analysis
North America dominates the Global TTR market currently owing to large scale adoption by public safety organizations and industries. Asia Pacific is expected to be the fastest growing regional market led by investments in critical communication infrastructure by countries like India, China and Japan. Growing demand from industries and smart city initiatives will drive further deployments in Asia Pacific.
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