Wireless communication systems and transformational technology helps to facilitate communication devices from analog to digital. Land Mobile Radio System provides strong communication and band high efficiency in between base station and mobile station that gives a significant increase in R&D activities among private and public organizations.
The Global Land Mobile Radio (LMR) System Market was valued at US$14.62 Bn in 2017 and is expected to reach US$25.74Bn by 2025. Increasingly adoption of LMR devices in varied domains will expand at a CAGR of 11.8% during the forecast period of 2017-2025.
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Significant and efficient communication application of LMR with less consumption, high quality coverage and log display functions witnessing an increasing adoption in commercial sector, defense and navigation, transportation, industrial sector, mining and public safety.
The global digital LMR devices market will expanded in the regions of the North America, Europe, Asia Pacific, LAMEA (Latin America, Middle East and Africa) and ROW. The North America will dominate the global LMR device market and expected to generate highest revenue at CAGR of 15.9% during the forecast period; followed by Asia-Pacific region. The Asia-Pacific and LAMEA becomes the emerging economies to supplement the growth of LMR system market during the forecast period. APAC is expected to hold the largest share of LMR system market during the forecast period due to increase in number of natural disaster, terrorist activities. The growing usage of these systems across the globe will grow the LMR system market during the forecast period.
LMR systems are increasing focus on improving communication technologies that will rapidly adopted in commercial sectors included construction, manufacturing, hospitality, healthcare, utilities and others. Higher availability of internet connectivity and demand for handheld devices, voice processing technology by using digital signal processing chips are the factors for deployment of LMN handheld in the coming years.
Leading companies of the global LMR system market are Harris Corporation, Motorola solutions, Inc. RELM Wireless Corporation, Simoco , Ray theon Company, Hytera Communication Corporation Limited, Tait Radio Communication Limited, Sepura PLc, Cartel Communication Systems, Cisco , Nokia Networks ,Airbus DS communications, IVC Kenwood corporation, Thales SA and others.
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Large numbers of vendor are entering in the market of the LMR system with novel technologies and efficient application will grow the market in the upcoming years. New Companies are immensely improving their manufacturing capabilities and are majorly targeted the research institutes, government bodies, private equity firms, and venture capitalists. Defense sector become the most dominated market for LMR system; that provides a prospective opportunities for the future market of the LMR systems. Highly demand of location based application in varied domains will help to generate revenue from the LMR systems.
The significant growth in the global LMR system is triggered by technological advancement will boost the market in near future. A major share of the market growth can be attributed to the growing applications of LMR system in navigation sector. Vendors mainly cater to the demand of the market and entirely focusing on developing market specific LMR systems.