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LMR systems provide reliable and high-quality communication services that ensure public safety and optimal workflow in commercial and industrial settings. It is used by various organizations such as police, fire departments, ambulance services, construction companies, utility companies, hospitals and manufacturing units for critical push-to-talk voice communication. The global LMR system market has seen significant growth in recent years due to advantages like effective coordination during emergencies, enhanced employee safety and productivity.
The global Land Mobile Radio (LMR) Market is estimated to be valued at US$ 23416.91 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the LMR systems market is the shift towards digital technology. Analog LMR systems that have been used traditionally are being replaced by digital LMR systems to improve voice quality, spectrum efficiency and security. Digital LMR provide features like multi-site trunking, encryption, GPS location tracking and remote diagnostics. They enable real-time communication between field personnel and dispatch centers using internet protocol technology. The adoption of digital LMR systems is expected to grow significantly during the forecast period owing to their advanced functionality compared to analog systems. However, the high cost of replacement remains a challenge for full migration to digital LMR communication networks.
Porter’s Analysis for Land Mobile Radio (LMR) Systems Market
Threat of new entrants: Low capital requirement and established manufacturing capabilities by existing players pose barriers for new entrants.
Bargaining power of buyers: Large fleet operators have significant bargaining power due to high volume procurement.
Bargaining power of suppliers: Established supply networks of component manufacturers ensure consistent supplies.
Threat of new substitutes: Growth of commercial mobile radio services is a potential threat to conventional LMR systems.
Competitive rivalry: Intense competition exists among global players to gain market share through product innovation and partnerships.
Key Takeaways
The Global Land Mobile Radio (LMR) Systems Market Size is expected to witness high growth over the forecast period. The global Land Mobile Radio (LMR) Market is estimated to be valued at US$ 23416.91 Mn in 2023 and is expected to exhibit a CAGR of 16% over the forecast period 2023 to 2030.
Regional analysis:
North America is the largest market for LMR systems led by U.S due to stringent public safety communication standards. Asia Pacific is expected to witness fastest growth with rising infrastructure development and adoption of advanced technologies in major countries like China and India.
Key players: Key players operating in the Land Mobile Radio (LMR) Systems market are Bose Corporation, Beats Electronics, 3M, Alclair Audio, Audio-Technica Ltd, Panasonic Corporation, Apple Inc., Bowers & Wilkins Group Ltd., David Clark Inc., GN Group, Harman International, Inc., Sony Corporation, Logitech International S.A., Koninklijke Philips N.V., Pioneer Corporation, and Sennheiser Electronic GmbH & Co. KG. Increasing investments in R&D of IoT integrated and software centric solutions is the focus of these players to strengthen market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
