February 24, 2024
Terrestrial Trunked Radio Market

Terrestrial Trunked Radio Market Is Supported By Growing Demand For Secure Communication In Public Safety Organizations

Terrestrial Trunked Radio (TETRA) is a digital mobile telecommunication standard used by emergency services, transport services, military and government users. TETRA provides security and priority for sensitive operational communication requirements in conditions which are critical for health, safety and the smooth running of services. It offers operators and public safety users standardized, encryption-based secure communication, extensive communication features and clear reliable coverage in critical, real-world situations. TETRA enables secure transmission of speech, data and multimedia communication with low power consumption for portable radios used outdoors or in remote areas with limited infrastructure.

The global terrestrial trunked radio market offers reliable group communication options for various day to day operations in organizations like police forces, fire and rescue services, oil and gas operators, railways and transport networks. TETRA’s critical communication capabilities ensure efficient on-site coordination during emergencies and disasters. It addresses the security, flexibility and robustness needs for collaboration on ground operations and remote command and control under harsh field conditions. The built-in encryption and authentication prevents interference and guarantees integrity of audio, text and video exchanges. With rising complexities of public safety and industrial operations, TETRA is gaining prominence as a professional critical communication solution worldwide.

The global Terrestrial Trunked Radio Market is estimated to be valued at US$ 6.05 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.

Market key Trends:

An upcoming trend gaining traction in the terrestrial trunked radio market is the evolution of TETRA networks towards 5G enabled critical communication solutions. 5G based critical applications will leverage the high speed, low latency abilities of 5G networks to enable real-time transmission of data like live video feed, location details, mapping details important for coordinating emergency responses. This integration of TETRA infrastructure with 5G core service capabilities is expected to enhance the communication options of public safety organizations manifold in the following years. Research is currently ongoing by network providers, system integrators and technology companies to develop 5G standard based critical communication solutions for addressing the more complex data requirement of next generation public safety operations.

Porter’s Analysis

Threat of new entrants: The terrestrial trunked radio market has moderate threat of new entrants due to already established players and requirement of high initial capital investment for R&D and infrastructure development.

Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various product options from different manufacturers.

Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to presence of many suppliers for raw materials.

Threat of new substitutes: Threat of new substitutes is low as terrestrial trunked radios are efficiently used for communication in industries.

Competitive rivalry: The competitive rivalry in the market is high due to presence of many international players offering similar products.

Key Takeaways

The global Terrestrial Trunked Radio Market Growth is expected to witness high growth. The growth can be attributed to increasing demand for efficient communication solutions from public safety organizations and commercial sectors across the globe. The global Terrestrial Trunked Radio Market is estimated to be valued at US$ 6.05 Mn in 2024 and is expected to exhibit a CAGR of 4.8% over the forecast period 2024 to 2031.

Regional analysis:

North America is expected to dominate the terrestrial trunked radio market during the forecast period. This is due to presence of established communication network and early adoption of advanced technologies by enterprises in the region. Asia Pacific is anticipated to grow at the fastest pace due to rapid industrialization and growing infrastructure development activities in developing countries such as China and India.

Key players:

Key players operating in the terrestrial trunked radio market are Fera Pharmaceuticals, Pfizer, Novartis AG, Merck KGaA, Baxter, Cipla Limited, Zydus Cadila, Lupin Pharmaceuticals, Inc., UCB, Inc., APOTEX INC, and Moleculin Biotech, Inc. Fera Pharmaceuticals is a leading player offering wide range of communication solutions for industrial sectors.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it