Push-to-talk Market worth $57.4 billion by 2028 - Exclusive Report by MarketsandMarketstm

CHICAGO, Oct. 2, 2023 /PRNewswire/ -- More mobile device integration, better data efficiency, increased security, AI integration, and growth into wearables and cloud-based solutions are anticipated for Push-to-Talk (PTT) technology in the future. Along with 5G networks and IoT applications, other major factors influencing the future of PTT technology include interoperability, globalisation, and sustainability considerations.

The Push-to-Talk (PTT) Market is estimated at USD 35.3 billion in 2023 to USD 57.4 billion by 2028, at a Compound Annual Growth Rate (CAGR) of 10.2%, according to a new report by MarketsandMarketstm.

Browse in-depth TOC on "Push-to-talk Market"
262 - Tables
50 - Figures
252 - Pages

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Scope of the Report

By Vertical, government & public safety segment is estimated to account for the largest market share in 2023.

PTT technology has seen significant adoption within government and the public sector in recent years. This technology has proven to be invaluable in enhancing communication and coordination among various agencies, first responders, and field personnel. PTT devices and applications allow instant voice communication over dedicated networks or cellular data connections, ensuring that critical information can be shared swiftly in emergency situations or during routine operations. Government agencies, such as law enforcement, fire departments, and public works, have embraced PTT for its reliability, simplicity, and the ability to facilitate interoperability among different organizations.

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By solution, over-the-top is expected to register the fastest growth rate during the forecast period.

Over-the-top (OTT) PTT solutions revolutionize real-time communication by enabling instant voice conversations over the internet, bypassing traditional cellular networks. These solutions leverage data connectivity to deliver a PTT experience reminiscent of two-way radios, making them ideal for industries including logistics, public safety, and field services.

Asia Pacific is expected to have the highest growth rate

PTT technology has witnessed significant adoption and growth in the Asia Pacific region in recent years. This trend can be attributed to several factors, including the region's expansive and diverse geography, the need for efficient and reliable communication solutions, and the proliferation of smartphones and mobile data networks.

Top Key Companies in Push-to-talk Market

The major vendors covered in the PTT market AT&T Inc. (US); Verizon Wireless (US); Motorola Solutions, Inc. (US); T-Mobile (US); Qualcomm Incorporated (US); Zebra Technologies Corporation (US); Telstra Group Limited (Australia); Hytera Communications Corporation Limited (China); Telefonaktiebolaget LM Ericsson (Sweden); Bell Canada (Canada); Iridium Communications Inc. (US); Tait Communications (New Zealand); Airbus SE (Netherlands); L3Harris Technologies, Inc. (US); ServiceMax, a PTC Technology (US); Simoco Wireless Solutions (UK); GroupTalk (Sweden); Orion Labs, Inc. (US); Zello Inc. (US); Procore Technologies, Inc. (US); VoxerNet LLC (US); International Push to Talk Ltd (England); Enterprise Secure Chat (US); AINA Wireless (US); Azetti Networks (Spain); PeakPTT (US); RugGear (China); ProMobi Technologies (India); and TeamConnect (US).

Recent Developments

• In May 2023, Qualcomm's subsidiary, Qualcomm Technologies, Inc., acquired Autotalks. Through the acquisition, the Autotalks standalone safety solutions was expected to be incorporated into Qualcomm Technologies' expanding Snapdragon Digital Chassis product.
• In July 2022, Ericsson acquired Vonage, This acquisition was expected to support Ericsson's strategy to leverage technology leadership to grow its mobile network business and expand into enterprise.
• In May 2022, Motorola Solutions, in partnership with Arya Communications & Electronics Services and Arya Omnitalk Wireless Solutions, launched WAVE PTX in India.

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Push-to-talk Market Advantages:

• PTT makes fast communication possible at the touch of a button, enabling quick coordination and response?essential in fields like logistics and public safety.
• PTT improves operational efficiency by streamlining communication and eliminating the need to dial numbers or send messages, which can save time.
• PTT makes it simple to communicate with numerous people at once, facilitating group communication that improves teamwork and collaboration.
• Users receive real-time information and updates, ensuring that everyone is aware of the situation and prepared to act quickly when it changes.
• PTT systems can prioritise communication traffic in emergency scenarios to guarantee the delivery of crucial messages even during network congestion.

Report Objectives:

• To determine and forecast the global PTT market by offering (hardware, solutions, and services), network type, vertical, and region from 2023 to 2028, and analyze the various macroeconomic and microeconomic factors that affect the market growth.
• To forecast the size of the market segments with respect to five main regions: North America, Europe, Asia Pacific (APAC), Latin America, and Middle East & Africa.
• To provide detailed information about the major factors (drivers, restraints, opportunities, and challenges) influencing the growth of the PTT market.
• To analyze each submarket with respect to individual growth trends, prospects, and contributions to the overall PTT market.
• To analyze the opportunities in the market for stakeholders by identifying the high-growth segments of the PTT market.
• To profile the key market players; provide a comparative analysis based on business overviews, regional presence, product offerings, business strategies, and key financials; and illustrate the market's competitive landscape.
• Track and analyze competitive developments in the market, such as mergers and acquisitions, product developments, partnerships and collaborations, and Research and Development (R&D) activities.

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