Walkie Talkie Global Market Report 2024

Walkie-talkies are compact, portable radios designed for communication over the air using radio waves on a shared frequency band. A typical walkie-talkie comprises a transmitter/receiver with an antenna for sending and receiving radio waves, a loudspeaker that also functions as a microphone, and a push-to-talk button. These devices enable wireless communication over a single, shared frequency band.

The main types of walkie-talkies include wearable walkie-talkie devices and handheld walkie-talkie devices. Wearable digital walkie-talkies are small, battery-operated communication devices designed to be worn, transmitting and receiving data as needed. Walkie-talkie products come in analog and digital forms and are distributed through both offline and online channels. These devices find applications in various sectors, including government and police, military and defense, retail and manufacturing, industrial and commercial, security agencies, and others.

The walkie talkie market research report is one of a series of new reports that provides walkie talkie market statistics, including walkie talkie industry global market size, regional shares, competitors with a walkie talkie market share, detailed walkie talkie market segments, market trends and opportunities, and any further data you may need to thrive in the walkie talkie industry. This walkie talkie market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The walkie talkie market size has grown strongly in recent years. It will grow from $6.45 billion in 2023 to $7.05 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth observed in the historic period can be attributed to various factors, including the widespread use of walkie-talkies in industrial and commercial applications, their crucial role in public safety and emergency response situations, utilization in military and defense operations, popularity for outdoor and recreational activities, and their contribution to supply chain and logistics operations.

The walkie talkie market size is expected to see strong growth in the next few years. It will grow to $10.3 billion in 2028 at a compound annual growth rate (CAGR) of 10.0%. The anticipated growth in the forecast period can be attributed to factors such as increasing demand in emerging markets, the influence of health and safety regulations, the rise of e-commerce and logistics industries, global security concerns driving the need for reliable communication devices, and the demand for rugged devices suitable for various environments. Major trends expected in the forecast period include the emphasis on global connectivity, the adoption of customization and modular designs in walkie-talkies, the emergence of subscription-based models for communication services, considerations for remote work scenarios, and a heightened focus on health and safety features in these devices.

The increasing allocation of funds for security equipment within residential communities is fueling the demand for the walkie-talkie market. Escalating criminal activities in both residential and commercial areas have prompted higher expenditures on security equipment in residential societies. For instance, Forbes Advisor reported in February 2022 that average home security equipment costs in the USA range from $5 (with a contract purchase) to over $600 per month. Additionally, a Safewise article from January 2021 revealed that nearly a third of Americans spent more than $600 on home technology, equivalent to the stimulus payments they received. Consequently, the heightened concerns about security and the investment in security equipment are contributing to increased demand for communication tools like walkie-talkies for internal communication. Therefore, the growing budget for security equipment is a driving force behind the walkie-talkie market.

The anticipated global expansion of businesses is set to drive the growth of the walkie-talkie market. Global business expansion involves companies strategically extending their operations and presence beyond current domestic or regional boundaries to operate on an international scale. Walkie-talkies play a crucial role in helping international businesses coordinate logistics, manage operations, ensure safety and security, and maintain efficient workflows. They are essential tools for bridging communication gaps in regions with limited mobile network coverage. As evidence, a United Nations Conference on Trade and Development article from February 2022 reported that the value of global trade reached a record level of $28.5 trillion in 2021, a 25% increase compared to 2020 and 13% higher than 2019. Hence, the global expansion of businesses is a significant driver for the walkie-talkie market.

Technological advancements are actively shaping the walkie-talkie market. Manufacturing companies are investing significantly in research and development to meet market demand and secure a larger market share. Numerous companies in the market are launching new and advanced products to enhance customer experience. For example, in August 2021, Motorola Solutions introduced the APX NEXT Smart Radio, a next-generation public safety radio that provides mission-critical voice communications on land-mobile radio (LMR) networks while utilizing broadband networks for data applications.

Major companies in the walkie-talkie market are introducing innovative products to maintain profitability. Innovative walkie-talkie products incorporate advanced features such as GPS tracking, long-range communication, and smartphone integration, enhancing user experience and functionality. Xiaomi, a China-based consumer electronics and smart manufacturing company, launched the Walkie Talkie 2S in February 2023, featuring 120 hours of standby time and 4W transmission power. The device supports up to 80 unique channels, each with individually adjustable frequencies, and allows calls up to 5 kilometers distant in urban areas. Xiaomi's walkie-talkie software provides users with customization options, and the device supports hassle-free FM radio usage.

In March 2021, Dish Network, a US-based satellite television company, acquired Republic Wireless for an undisclosed amount. This strategic acquisition aims to expand Dish Network's customer base in the wireless market and equip the company with the necessary technology for future business ventures. Republic Wireless is a US-based mobile network operator company that manufactures walkie-talkies.

Major companies operating in the in the walkie talkie market report are Entel Limited, HYTERA COMMUNICATIONS CORPORATION LIMITED, Icom Incorporated, JVCKENWOOD Corporation, Kirisun Communication Co. Ltd., Motorola Solutions Inc., Shenzhen HQT Science and Technology Co. Ltd., Uniden Holdings Corporation, Tait International Limited, HONGKONG RETEVIS TRADE CO. LTD, BK Technologies Inc., L3Harris Technologies Inc., Thales Group, Sepura plc, Yaesu USA, Quansheng Electronics Co. Ltd., Abell Automotive, Midland Radio Corporation, Cobra Electronics Corporation, Kenwood USA Corporation, Baofeng Electronics Co. Ltd., WOUXUN ELECTRONICS CO. LTD., Ritron Inc., Olympia Business Systems Vertriebs GmbH, Vertex Standard Co. Ltd., Maxon America Inc., Alinco Inc., Edale Electronics, Simoco Group, Zetron Inc.

North America was the largest region in the walkie-talkie market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the walkie talkie market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the walkie talkie market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The walkie-talkie market consists of sales of family radio service (FRS) and general mobile radio service (GMRS). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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