The global terrestrial trunked radio (TETRA) market size is expected to gain momentum by reaching USD 9.78 billion by 2028 while exhibiting a CAGR of 18.50% between 2021 to 2028. In its report titled “Terrestrial Trunked Radio (TETRA) Market, 2021-2028 , “Fortune Business Insights ™ mentions that the market stood at USD 2.46 billion in 2020 and USD 2.98 billion in 2021.
TETRA is specifically designed for government agencies usage such as emergency services. It is most prominently used by military personnel. It works on a much lower frequency and gives a longer range. This permits a high level of geographical coverage with a smaller number of transmitters. TETRA devices can also be connected via smartphones and other devices via Bluetooth 5.0. The rise in military combat missions and surveillance activities has propelled the growth of the market.
Increase in Demand of Defense IT Expenditure in Asia Pacific
The growing defense budget and increased expenditure on military and combat capabilities in developing nations is anticipated to boost the terrestrial trunked radio (TETRA) market growth. For instance, many governments of Asian countries put up around USD 505 billion for the defense sector in 2020. This was 4.3% more than the previous year. Additionally, governments are also working towards cybersecurity. For instance, in June 2020, the Australian government spent USD 1.35 billion towards improving the country’s cybersecurity capabilities during the upcoming decade. These factors will propel the demand for in the near future.
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List of Key Players Profiled in TETRA Industry Report
Airbus Defense and Space Corporation (UK)
Motorola Solutions, Inc. (US)
Hytera Communications Corporation Limited (China)
JVCKENWOOD Corporation (Japan)
Sepura PLC (US)
DAMM Cellular Systems A / S (Denmark)
Rohill Engineering BV (Netherlands)
BiTEA Limited (UK)
CONSORT DIGITAL PRIVATE LIMITED (UK)
Radlink Communications (Australia)
By Operation it is divided into trunked mode operation and direct mode operation. By component it is bifurcated into hardware and software. By mounting type it is divided into portable and mobile (Vehicular mounted)). By application it is segmented into industrial, utilities, transportation, mining, military, homeland security, fire department, and emergency medical services. Finally, based on the region, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World.
What does the Report Provide?
The market report provides a detailed analysis of several factors such as key drivers and restraints that will impact growth. Additionally, the report provides insights into the regional analysis that covers different regions, contributing to the growth of the market. It includes the competitive landscape that involves the leading companies and the adoption of strategies to introduce new products, announce partnerships, and collaboration to contribute to market growth.
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Europe to Dominate Backed by Presence of Several TETRA Providers in Region
Europe is expected to remain at the forefront and hold the highest market position during the forecast period owing to the presence of several TETRA devices providers. In addition, the availability of advanced network infrastructure facilities and various providers such as Airbus Defense and Space Corporation, Inc., Sepura PLC, Rohill Engineering BV, and Bitea Limited is expected to promote the regional market. The region’s market stood at USD 0.95 billion in 2020.
Asia Pacific is expected to showcase significant terrestrial trunked radio (TETRA) market share in the coming years, owing to the continuous development by the government on improving the military communication ecosystem in the region. Additionally, the increasing investment and expenditure on setting up software-defined radio (SDR) for efficient data transmission and communication clarity on the battlefield is driving the regional market.
Key Players to New Launches to Strengthen Market Growth
The market is amalgamated by important corporations struggling to maintain their position by emphasizing on novel launches. For example, in January 2021, Motorola Solutions unveiled unmatched versatility for frontline workers with novel TETRA radio. This will aid the company with mission-critical technology and will offer smart connectivity for the front-line workers. Such tactics taken up by crucial players are estimated to reinforce its market opportunities.
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This release was published on openPR.