According to a new research study by Persistence Market Research (PMR), collaborations and partnerships between push-to-talk services providers and mobile device manufacturers are expected to create a significant opportunity for vendors. The report opines that these partnerships can also assist push-to-talk over cellular solution providers to expand their businesses into different regional markets to increase their sales. The report estimates the global push-to-talk over cellular market sales to grow at 9.7% CAGR during the assessment period.
Continuous innovations in the push-to-talk over cellular technology have helped revolutionize several verticals in various developing as well as developed regions. Several push-to-talk over cellular solution vendors are making significant investments to fulfill the growing requirement of innovative and efficient push-to-talk over cellular solutions in East Asia, Europe, and South Asia.
The global push-to-talk over cellular market is projected to offer a total incremental opportunity worth over US$ 5,368.3 Mn during the forecast period of 2019 to 2029.
Among all the push-to-talk over cellular based components, services sub-segment is estimated to offer an incremental opportunity worth nearly US$ 1,829.6 Mn. The services segment is estimated to remain the most attractive during the assessment period.
The public safety and security industry vertical is estimated to continue holding the largest market share of the global push-to-talk over cellular market throughout the forecast period. The segment is also estimated to register the highest incremental opportunity in the global push-to-talk over cellular market during the forecast period. However, among all the industry verticals in the global push-to-talk over cellular market, the transportation and logistics industry vertical is also projected to register the significant CAGR during the projection period.
The push-to-talk over cellular market in North America is projected to offer the highest opportunity during the forecast period, followed by the European push-to-talk over cellular market. The push-to-talk over cellular market in East Asia is expected to record the third-highest incremental opportunity during the forecast period. Moreover, the push-to-talk over cellular market in East Asia is anticipated to grow at a high CAGR during the forecast period.
Global spending on ICT is rising every year due to the ever-rising demand for technology products, such as consumer electronics, software, software-dependent devices. The global push-to-talk over cellular market is also experiencing significant growth with the accelerated launch of new ICT technologies since the past three years.
As the usage of the mobile device has increased, the demand for push-to-talk over cellular has also increased. Moreover, push-to-talk over cellular technology is used to provide one-touch communication across a group of people. Thus, collaborations with smartphone manufacturers are likely to help push-to-talk solutions providers combine push-to-talk over cellular functionality in one device, which is expected to boost operational efficiency. Opportunities for the growth of the push-to-talk over cellular market are also related to the generation of a solution that keeps up with the security issues as well as keeps the solutions in-line with the laws and regulations governing the market.
Some of the key players in the global push-to-talk over cellular market research report include AT&T, Sprint Corporation, Motorola Solutions, Azetti Networks, Simoco Wireless Solutions, Bell Canada, Qualcomm, GroupTalk, Kyocera Corporation, Sonim Technologies Inc., AINA Wireless and others.
The market study on push-to-talk over cellular market offers a detailed analysis on the key strategies of some of the key vendors in this marketplace. The vendors are focusing on strategic expansion, mergers & acquisition, and foraying into untapped markets to consolidate their position. The competition structure section of the report also offers in-depth analysis on the market shares of some of the leading players in the market. In addition to market shares, a comparative assessment with regards to product penetration and risk-appetite has also been included in the study.
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