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Walkie Talkie Market Size

Report ID: GMI8740
Published Date: Mar 2024
Report Format: PDF

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Walkie Talkie Market Size

Walkie Talkie Market was valued at over USD 3.5 billion in 2023 and is anticipated to register over USD 8.3 billion in 2032 at a CAGR of over 9% between 2024 & 2032. The rising trend toward smaller and portable communication devices matches the needs of various industries and consumer segments. As workplaces become more dynamic and faster, there is a growing demand for compact and lightweight walkie talkies that can be easily handled by users

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For instance, in May 2023, Icom released a new walkie-talkie, IC-F200. It is a small, portable, splash-proof & dust-proof device with a screen display and USB charging function, giving users a more convenient experience.

The introduction of new features and technological advancements in walkie-talkie design, such as the inclusion of screen visuals and USB charging functions, showcases ongoing innovation in the industry. These features & and advancements also help the defense sector in maintaining proper communication. Manufacturers continuously strive to differentiate their products by incorporating new technologies and features that offer tangible benefits to users. For instance, in December 2023, Türkiye launched a small, light, multi-frequency & multi-function tactical walkie talkie, EHKET. The new product utilizes wide bandwidth waveform characteristics to transmit the required high-resolution images and videos on modern battlefields even in areas without a direct line of sight.

Walkie Talkie Market Report Attributes
Report Attribute	Details
Base Year:	2023
Walkie Talkie Market Size in 2023:	USD 3.5 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	9%
2032 Value Projection:	USD 8.3 Billion
Historical Data for:	2018 – 2022
No. of Pages:	220
Tables, Charts & Figures:	236
Segments covered:	Type, distribution Channel, end-user, and region
Growth Drivers:	Increasing demand in the industrial and commercial sectors Technological advancements and innovation Growing demand in military and defense applications Rising focus on public safety and emergency response needs Rise in demand for portable and convenient communication devices
Pitfalls & Challenges:	Regulatory compliance Interoperability and compatibility issues

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Walkie-talkies are bound by various regulations, requirements & standards, particularly in sectors such as public safety, defense, and telecommunications. Compliance with these regulations becomes more complex as well as costly, necessitating manufacturers to navigate a stringent regulatory landscape to ensure that their products meet legal requirements in different regions and markets.

Authors: Suraj Gujar, Sandeep Ugale

Frequently Asked Questions (FAQ) :

Market size for walkie talkie was valued at over USD 3.5 billion in 2023 and is anticipated to surpass USD 8.3 billion by 2032, driven by the rising trend toward smaller and portable communication devices.

Digital walkie talkie market segment accounted for a revenue share of over 60% in 2023 and is set to gain traction by 2032, driven by the need for reliable, efficient, and secure communication solutions.

Asia Pacific market held a decent revenue share in 2023 and is expected to maintain a robust CAGR of over 10.5% from 2024 to 2032, driven by rapid economic growth, coupled with the expansion of industries including construction, manufacturing, hospitality, and security.

Neato Robotics, Inc Motorola Solutions, Inc., Hytera Communications Corporation Limited, Kenwood Corporation, Tait Communications, ICOM INC., ENTEL GROUP, KIRISUN COMMUNICATION CO., LTD. are some of the major industry contenders.