| The terrestrial trunked radio market was valued at USD 4.18 billion in 2023 and is expected to grow to USD 4.96 billion in 2024, reaching USD 13.44 billion by 2032, with a robust compound annual growth rate (CAGR) of 13.27% during the forecast period (2024-2032). Europe led the market in 2023, holding a dominant share of 39.95%. 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 geographic coverage with a smaller number of transmitters. TETRA devices can also be connected through smartphones and other devices through Bluetooth 5.0. The rise in military combat missions and surveillance activities has propelled the growth of the market. List of Key Players Profiled in Report Airbus Defense and Space Corporation (U.K.) Motorola Solutions, Inc. (U.S.) Hytera Communications Corporation Limited (China) JVCKENWOOD Corporation (Japan) Simoco (U.K.) Sepura PLC (U.S.) DAMM Cellular Systems A/S (Denmark) Rohill Engineering B.V. (Netherlands) BiTEA Limited (U.K.) CONSORT DIGITAL PRIVATE LIMITED (U.K.) Radlink Communications (Australia) Browse In-depth Summary of This Research Insight: https://www.fortunebusinessinsights.com/terrestrial-trunked-radio-tetra-market-102672 Market Segmentation: 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 region, the market is categorized into North America, Europe, Asia Pacific, and Rest of the World. What does the Report Provide? The terrestrial trunked radio market report provides a detailed analysis of several factors such as the 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 the market growth. Driving Factor 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 abilities during the upcoming decade. These factors will propel the demand for in the near future. Regional Insights Europe to Dominate Backed by Presence of Several TETRA Providers in Region Europe is expected to remain at the forefront and hold the highest position market 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 B.V., 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 market share in upcoming 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. Competitive Landscape Key Players to New Launches to Strengthen Market Growth The terrestrial trunked radio 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. Industry Development January 2021 –Viasat Inc. declared that it has increased its Link 16 next-generation tactical data links radios manufacturing to meet near-term the U.S. and international defense requirements. |