The global push-to-talk market size is expected to foresee exponential growth by reaching USD 45.54 Billion by 2025, while exhibiting a CAGR of 7.0% between 2018 and 2025. Fortune Business Insights, in its latest report, titled “Push-To-Talk Market Size, Share and Industry Analysis by Network (PoC, LMR), Component (Hardware, Software, Services), Application (Public Safety & Security, Transportation & Logistics, Manufacturing & Construction, Travel & Hospitality Defense), And Regional Forecast 2018-2025.”, observes that this is ascribable to factors such as technological advancement in smartphone industry across the globe. The report further mentions that that market was worth USD 26.8 Billion in 2017.
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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.
What does the Report Include?
The market report includes an exhaustive study of several factors such as drivers, restraints, challenges, and opportunities that will affect the growth of the market in the forthcoming years. The report covers regional demographics that include qualitative and quantitative information about the regions that are further divided into nations that are contributing to the growth of the market between 2019 and 2026. Furthermore, the competitive landscape has been discussed in-depth that include information of several players operating in the market. Moreover, information on the adoption of strategies such as merger and acquisition, collaboration, partnerships, and joint ventures by the companies that will drive the growth of the market has been included during the projected horizon.
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.”
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.
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