Global Walkie Talkie Market to Expand Significantly at a CAGR of 9.47% during Forecast period of 2017-2023

Pune, India, November 2018/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Walkie Talkie Market.

Market Overview:

Walkie talkie is a compact, portable, battery-operated receiving and transmitting communication device that aids in transmitting voice messages. Market Research Future (MRFR) has published a report stating that the global walkie talkie market is marked to expand at a significant CAGR of 9.47% during the forecast period of 2017-2023 and reach the valuation of USD 16.99 Bn by the end of the forecast period.

Market Drivers and Restraints:

Rise in demand for advanced electronic security devices in military and defense sector due to increased criminal activities, terrorist attacks and home invasions are majorly fueling the growth of the global walkie talkie market.  Incorporation of technologically advanced features such as global positioning system, data tracking, encrypted communication, text messaging, emergency alarm and others are aiding the expansion of the global walkie talkie market. Increasing demand for walkie talkie for security and surveillance purposes at offices, schools and residential properties is one of the major factors that are propelling the growth of the global walkie talkie market. increasing popularity of walkie talkie among kids for entertainment purposes, utilization of these portable communication devices for event management and availability of walkie talkie at affordable prices are also driving the global walkie talkie market towards higher verticals. However, one-sided communication approach, limited distance reach, low battery life and communication breakage are some of the primary factors that are likely to restrain the growth of the growth of the global walkie talkie market during the forecast period.

Market Segmentation:

The global walkie talkie market has been segmented on the basis of product type and application. Based on product type, the walkie talkie market has been segmented into analog walkie talkie and digital walkie talkie. Based on application, the walkie talkie market has been segmented into government and public safety, commercial, industry and commerce, home security and others. The commercial segment has been sub-segmented into retail stores and shopping malls.

Regional Analysis

By region, the global walkie talkie market has been segmented into four major regions such as North America, Europe, Asia Pacific and the rest of the world. The North America region commands for the major share in the global walkie talkie market owing to the presence of leading manufacturers of walkie talkie, incorporation of technologically advanced features such as data tracking, global positioning system, emergency alarm and others and rise in demand for portable communication devices for enhancing the security services in this region. Increasing demand for encrypted communication devices in military and defense sector and surveillance projects in the emerging economies of India and China are propelling the growth of the walkie talkie market in the Asia Pacific region. Increased manufacturing of these devices in the Asia Pacific region due to availability of cheap raw materials and skilled workforce and rise in popularity of walkie talkie for entertainment purposes are also fueling the growth of the walkie talkie market in this region. High demand for advanced electronic security devices in defense sector, schools, offices and others are fueling the growth of the walkie talkie market in the Europe region.

Access Report Details @ https://www.marketresearchfuture.com/reports/walkie-talkie-market-4347

Industry Updates:

In October 2018, Xiaomi has launched a new and advanced MIJIA Walkie Talkie 1S which is an upgraded version of their previously launched walkie talkie device.

In October 2018, No.1, a smartwatch manufacturer, has announced the launch of a 3-in-1 accessory for iPhones which can be used as a case, power bank and Walkie Talkie.

Key Players:

The leading players profiled by MRFR that are operating in the global walkie talkie market are Motorola Solutions, Hytera Communications, ICOM, JVCKENWOOD, Tait Communications, Shenzhen HQT Science and Technology, Abel, Cobra Electronics, Kirisun Communications, Uniden, Wintec and others.