This wearable digital walkie-talkie market report by Persistence Market Research approximates the market value to reach US$ 15 Bn by the end of 2031. Wearable digital walkie-talkie industry insights also project the market to expand at a CAGR of around 12% over the forecast period of 2021-2031. Japan is expected to be a key market for manufacturers and expand at a CAGR of 13% over the next ten years.
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- STARNEX Co., Ltd.
- Orion Labs, Inc.
- Theatro and AWIRE Technology Corp.
- Major participants.
- such as OrionLabs, Inc.
- (Formerly OnBeep) and Theatro.
Key Points Covered in Wearable Digital Walkie-Talkie Industry Survey:
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, country-wise, and region-wise analysis
- Competition mapping and benchmarking
- Brand share and market share analysis
- Key product innovations and regulatory climate
- COVID-19 Impact on wearable digital walkie-talkies and how to navigate
- Recommendation on key winning strategies
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Recent Developments in Wearable Digital Walkie-Talkie Market
Increasing demand for in-store communication and adoption of hands-free walkie-talkies has been augmenting market growth.
- Microsoft Teams has gained immense popularity during the pandemic as it became an efficient platform for many workplaces and facilitated ease of online operations. In a bid to take advantage of the popularity of the platform, Microsoft has added a walkie-talkie feature to Teams. This attempt is to rope in frontline workers and expand the user base for Microsoft Teams.
- Orion Labs is a leading name in voice based communication platforms, and it has added a new feature to its mobile app to enable to use it as a walkie-talkie. The feature will be available for both, iOS as well as Android platforms. This was done to give enhanced accessibility to business and enterprise workers who are very heavily reliant on voice-powered communications for in-house as well as remote communications.
With tech giants making efforts to increase the efficiency and adaptability of walkie-talkie devices, the market is expected to see substantial rise in demand over the coming years.
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Wearable digital walkie-talkie is a compact, wearable, battery-operated transmitting and receiving communication device. In this report, the global wearable digital walkie-talkie market is broadly segmented on the basis of application and region to get a clear understanding of the market.
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Key Market Dynamics in Gas Leak Detector Industry Analysis
The global wearable digital walkie-talkie market is expected to be valued at US$ 4.8 Bn by the end of 2021, registering a CAGR of 12% between 2021 and 2031.
This Persistence Market Research report examines the global wearable digital walkie-talkie market for the period 2021–2031. The primary objective of the report is to offer updates on advancements in walkie-talkie devices that have given rise to a futuristic product, wearable digital walkie-talkie.
Various applications of wearable digital walkie-talkie devices such as store activity, commercial activity, training activity and personal activity are expected to drive their demand over the next five years.
Key players identified in the global wearable digital walkie-talkie market are STARNEX Co., Ltd., OrionLabs, Inc., Theatro and AWIRE Technology Corp. Major participants, such as OrionLabs, Inc. (Formerly OnBeep) and Theatro, are focusing on increasing investment and funding on product development.
FAQs Answered in Market Study
- What is the market value of wearable digital walkie-talkies?
The global wearable digital walkie-talkie market is expected to be valued at US$ 4.8 Bn in 2021.
- What is the future expected CAGR and market valuation for wearable digital walkie-talkies?
The global wearable digital walkie-talkie market is expected to surge at a CAGR of 12% and reach a market valuation of US$ 15 Bn by the end of 2031.
- At what rate of did the wearable digital walkie-talkie industry expand over the past 5 years?
The market for wearable digital walkie-talkies expanded at a CAGR of 9% over the past 5 years.
- What is the market share held by top manufacturers of wearable digital walkie-talkies?
AWIRE Technology Corp holds 14%, Starnex Co, Ltd holds 12.5%, Theatro holds 11%, and OrionLabs Inc holds 11.8% of the global market share.
- What is the demand outlook for wearable digital walkie-talkies?
Wearable digital walkie-talkie industry research analysis suggests that increasing need for in-store communication devices is driving demand for wearable digital walkie-talkies. Market valuation by 2031 is expected to be US$ 15 Bn.
- Which countries are leading demand for wearable digital walkie-talkies?
The U.S., South Korea, Japan, India, and China are leading consumers of wearable digital walkie-talkies.
- What are the market statistics for Japan and South Korea?
The market in Japan is expected to expand at a CAGR of around 13% and South Korea is expected to rise at a CAGR of 10%.
- Who are the key exporters of wearable digital walkie-talkie?
Kirisun and Yaesu are leading exporters of wearable digital walkie-talkies.
- Which countries are major manufacturers of wearable digital walkie-talkies?
Key producers of wearable digital walkie-talkies are the U.S., China, South Korea, and a few European countries.
- What is the key demand driver for wearable digital walkie-talkies?
Evolution of consumer preference for connected devices has majorly been fueling demand for wearable digital walkie-talkies.
- What is a key trend shaping the wearable digital walkie-talkie space?
Rise in adoption of hands-free walkie-talkies is a key trend shaping market growth.
- What is the outlook for North America for wearable digital walkie-talkies?
North America is estimated to account for 32% of global market share and dominate the market in 2021.
- What is the outlook for the U.K. in the market for wearable digital walkie-talkies in the European region?
The United Kingdom held the largest share in Europe and is expected to surge at a CAGR of 17% by the end of 2031.