31-Aug-2018 | Zion Market Research
With the presence of a large pool of participants, the global land mobile radio (LMR) system market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR). RELM Wireless Corporation, Motorola Solutions, Inc., Airbus DS Communications, Honeywell International Inc., and Thales Group S.A. are some of the key vendors of land mobile radio (LMR) system across the world. These players across land mobile radio (LMR) system market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the land mobile radio (LMR) system market study.
In a major event witnessed across the U.S. land mobile radio (LMR) system industry this August, the U.S. Department of Homeland Security offered a contract worth US$ 150,000 to Catalyst Communications Technologies for setting up mission- critical communications between the first responders through the use of LMR systems & devices over LTE networks with push-to-talk applications.
This review is based on a report by Zion Market Research, titled "Land Mobile Radio (LMR) System Market (Hand Portable and Mobile (Vehicular)) for Military, Commercial, Construction, Transportation and Others Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021"- Report at http://www.zionmarketresearch.com/report/land-mobile-radio-lmr-system-market
As estimated in this report, the global land mobile radio (LMR) system market stood at US$ 14.37 billion in 2015. Witnessing a tremendous rise during the period from 2015 to 2021, the revenue in land mobile radio (LMR) system market is expected to reach US$ 36.87 billion by the end of the forecast period. The main types available in land mobile radio (LMR) system markets are hand portable and mobile systems. Among them, the demand for hand portable system is relatively higher and the trend is anticipated to remain so over the next few years, notes the research report.
Mammoth Demand For LTE-Integrated LMR Systems To Boost Market Size
“Need for effective mission critical communications and immense growth of LTE networks is anticipated to boost the land mobile radio (LMR) system market demand in the years ahead,” says the author of this study. Apart from this, escalated product demand from government & defense sectors will further propel the land mobile radio (LMR) system market growth.
However, security is the major issue that can probably restrict the growth of land mobile radio (LMR) system market over the years to come. Nevertheless, new technological features added to land mobile radio (LMR) systems along with high acceptance of the products is likely to generate new growth opportunities for the land mobile radio (LMR) system market, thereby normalizing the impact of hindrances on the land mobile radio (LMR) system market, reports the study.
Extensive Product Use In Government & Defense Sectors To Regional Growth
Regionally, North America has been leading the worldwide land mobile radio (LMR) system market and is anticipated to continue on the dominant position in the years to come, states the market study. Growing use of the technology in defense & government sectors is the main factor behind the dominance of the North America land mobile radio (LMR) system market. The high number of market players being headquartered in North America is another significant factor that is supporting the growth of land mobile radio (LMR) system market in this region.
The global land mobile radio (LMR) system market is segmented as follows:
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