Push-to-talk Over Cellular Market to Garner $6.37 Bn, Globally, by 2026 at 9.2% CAGR, Says Allied Market Research

- Deployment of LTE network, increase in number of Internet users across the world, and the proliferation of mobile devices drive the growth of the global push-to-talk over cellular market.

PORTLAND, Oregon, Feb. 10, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Push-to-Talk Over Cellular Market by Component (Equipment, Software, and Services) and Application (Public Safety & Security, Construction, Energy & Utility, Transportation & Logistics, Manufacturing, Government & Defense, Travel & Hospitality, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026". According to the report, the global push-to-talk over cellular market was $3.17 billion in 2018 and is projected to reach $6.37 billion by 2026, growing at a CAGR 9.2% from 2019 to 2026.

Deployment of LTE network, increase in number of Internet users across the world, and the proliferation of mobile devices have boosted the growth of the global push-to-talk over cellular market. However, the presence of latency and gaps in communication hampers the market. On the contrary, deployment of next-generation 5G network is expected to create lucrative opportunities in the near future.

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Equipment segment dominated the market
The equipment segment held the largest share in 2018, contributing to more than three-fifths of the global push-to-talk over cellular market, owing to the ability of push-to-talk over cellular devices that provides collaborative and integrated solutions such as group communications. However, the services segment held the highest CAGR of 11.5% during the forecast period, due to rise in awareness regarding loss of performance and productivity due to lack of communications.

Transportation & logistics segment to manifest the fastest CAGR through 2026
The transportation & logistics segment is projected to register the fastest CAGR of 11.9% during the forecast period, owing to as it helps the companies in communication and handling operations effectively as the flows and volumes are increasing in the logistics industry at a rapid pace. However, the public safety & security segment held the largest share in 2018, accounting for more than one-fourth of the market.

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North America dominated the industry
The global push-to-talk over cellular market across North America held the largest share in 2018, contributing to more than one-third of the market. As LTE coverage in North America has become ubiquitous, push-to-talk over LTE is increasingly prevalent, which means much faster data speeds and much lower network latency. However, the market across the Asia-Pacific region is expected to manifest the fastest CAGR of 10.5% during the forecast period. This is pertaining to high demand in Asia-Pacific-based industries such as transportation & logistics, public safety & security, and construction, owing to rise in infrastructure development activities in the region.

Major market players

• AT&T, Inc.
• Verizon Communications
• Qualcomm Technologies Inc.
• Kyocera Corporation
• Motorola Solutions Inc.
• Mobile Tornado
• Bell Canada
• Sprint Corporation
• Sonim Technologies Inc.
• Simoco Wireless Solutions

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