Global Land Mobile Radio (LMR) System Market will Reach USD 36.87 Billion by 2021

According to the report, global Land Mobile Radio (LMR) System Market was valued at USD 14.37 billion in 2015, and is expected to generate revenue of USD 36.87 billion by end of 2021, growing at a CAGR of slightly above 17.0% between 2016 and 2021.

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Land Mobile Radio (LMR)
Land Mobile Radio (LMR) - courtesy of www.tradekorea.com

Zion Research has published a new report titled “Land Mobile Radio (LMR) System Market (Hand Portable and Mobile (Vehicular)) for Military, Commercial, Construction, Transportation and Others Application: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2015 – 2021”. According to the report, global demand for Land Mobile Radio (LMR) system market was valued at USD 14.37 billion in 2015 and is expected to generate revenue of USD 36.87 billion by end of 2021, growing at a CAGR of slightly above 17.0% between 2016 and 2021.

Land Mobile Radio (LMR) systems are connected wireless communication systems. LMR systems can be classified into two major technologies such as analog and digital types. These systems are used for commercial, construction, transportation, military, and utility applications.

North America is by far the largest in the global Land mobile radio (LMR) systems market and is set to continue to dominate the world marketplace over the forecast period. Land mobile radio (LMR) systems market is mainly driven by the growing demand from the automotive & transportation industry, rising technological advances, and growing market penetration in developing countries. U.S. is the key region in North America and plays the key role in the development of the future LMR industry. In term of revenue, it accounted for over 78% of the market share in 2015.

…global demand for Land Mobile Radio (LMR) system market was valued at USD 14.37 billion in 2015 and is expected to generate revenue of USD 36.87 billion by end of 2021, growing at a CAGR of slightly above 17.0% between 2016 and 2021.

North America was followed by Europe and Asia-Pacific in 2015. Europe is expected to show moderate growth during the forecast period due to technological development and increasing demand for land mobile radio systems from the government and construction sector. The considerable economic growth of countries such the Germany, UK, France and Italy drives the market and is likely to remain a determinant factor for the LMR system market’s growth in the next few years.

Asia Pacific is one of the fastest growing regional markets for LMR system due to strong growth in automotive sector mainly due to emerging countries such as India and China. Government organization provides funding supports to several research projects in this field.  Asia Pacific is expected to have significant growth during the years to come owing to the liberalization of the telecommunication sector and strong demand for wireless communication system and network. India, Japan, and china are well positioned to enter the field of LMR system and to dominate some of the rising profitable applications.

Latin America, Middle East, and Africa are likely to have considerable growth for LMR system market during the estimated five years. Shifting technological preferences in these regions coupled with increasing use of the internet is expected of fuel the LMR system market within the forecast period.

Some of the key players in land mobile radio (LMR) systems market include Airbus DS Communications, TE Connectivity Ltd., Honeywell International, Inc., Raytheon Company, RELM Wireless Corporation, Harris Corporation, Thales Group S.A., Motorola Solutions, Inc., Cassadian Communications Incorporation, Nokia Solutions and Networks, and JVC KENWOOD Corporation.

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