$4550
[Research Report] The general mobile radio service (GMRS) radios market is expected to grow from US$ 131.00 million in 2022 to US$ 162.88 million by 2030; it is estimated to register a CAGR of 2.9% from 2023 to 2030.
Analyst Perspective:
Global general mobile radio service (GMRS) radios market is segmented into North America, Europe, Asia Pacific, and Res of World. The North America region accounted for the highest general mobile radio service (GMRS) radios market share in 2020 and is anticipated to maintain its dominance throughout the forecast period. Manufacturers in Asia Pacific region are focusing on technological advancement in the general mobile radio service (GMRS) radios market. For instance, in April 2021, Midland launched two new maximum wattage GMRS radios such as MXT500, and MXT575. These 50-watt radios come with two form factor and are built for those who wants long range GMRS radios. Further, general mobile radio service (GMRS) radios market in Europe and Asia Pacific region is projected to grow at substantial CAGR during the forecast period owing to changing lifestyle standard and growing popularity of recreational activities.
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General Mobile Radio Service (GMRS) Radios Market: Strategic Insights
Market Size Value in US$ 131.00 million in 2022 Market Size Value by US$ 162.88 million by 2030 Growth rate CAGR of 2.9% from 2023 to 2030 Forecast Period 2023-2030 Base Year 2022
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General Mobile Radio Service (GMRS) Radios Market: Strategic Insights
| Market Size Value in | US$ 131.00 million in 2022 |
| Market Size Value by | US$ 162.88 million by 2030 |
| Growth rate | CAGR of 2.9% from 2023 to 2030 |
| Forecast Period | 2023-2030 |
| Base Year | 2022 |
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General Mobile Radio Service (GMRS) Radios Market Overview:
Major stakeholders in the general mobile radio service (GMRS) radios market ecosystem include component manufacturers, software developers, system integrators, and end users. The manufacturing of GMRS radios requires both hardware and software. The component manufacturers operating in the general mobile radio service (GMRS) radios market offer components such as in-line fuses, microphones, speakers, coaxial cables, magnet mounts, and LCDs. The software developers develop the software required for the efficient functioning of the GMRS radios.
The system integrators, such as Tidradio; Rugged Race Products Inc; Quanzhou Chierda Electronic Telecom Co Ltd; WOUXUN ELECTRONICS CO., LTD.; Midland Radio Corp; Hongkong Retevis Trade Co Ltd; Fujian Baofeng Electronics Co Ltd; Sainstore Inc; Iradio Electronics Co Ltd; and QYT Electronics Co Ltd, integrate the software and hardware and build GMRS radios. These are distributed to various end-user applications such as agriculture, off-road, and recreational.
General Mobile Radio Service (GMRS) Radios Market Driver:
GMRS radios are used for short-distance, two-way voice communications using hand held radios, mobile radios, and repeater systems. They are widely used in agriculture, recreational activities, camping, hiking, and other commercial applications. The introduction of enhanced features and new functionality compared to previous models can attract new customers and encourage existing users to upgrade their equipment. The advanced features provide more reliable and efficient communications between users. Therefore, the market players are incorporating additional features into their existing GMRS radios. For instance, in May 2022, BAOFENG TECH launched GMRS-V2, an advanced version of GMRS-V1 with additional features such as new in-house custom chipsets and firmware. It consists of 200 completely programmable channels that can be arranged, modified, and used as GMRS, NOAA, or scanner channels, offering users a customized choice to switch between channels. Such additional features attract several end users to adopt advanced two-way communication systems for better radio performance, thereby propelling general mobile radio service (GMRS) radios market growth.
General Mobile Radio Service (GMRS) Radios Market Segmental Analysis:
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Based on application, the general mobile radio service (GMRS) radios market is segmented into recreational, off-road, agriculture, and others. The recreational segment is expected to account for the largest general mobile radio service (GMRS) radios market share in 2023.
In September 2021, the World Economic Forum stated that the demand for agricultural products was increasing with the constantly increasing population. The annual consumption of food and agricultural products was augmented by 48% between 2001 and 2018. It increased more than twice the rate of increase in the human population. Thus, increased food consumption leads to increased farm operations to produce crops and avoid crop damage to meet the growing demand for food and agricultural products. This factor has led to the adoption of various technologies by farm operators to manage crops, livestock, and other farm operations efficiently. One such technology is the use of GMRS radios. These radios meet large farms' communication needs. Both handheld and in-vehicle GMRS radios are used for agriculture applications. In-vehicle reliable and rugged radios are compatible with tractors, sprayers, all-terrain vehicles (ATVs), utility task vehicles (UTVs), semi-trucks, skid-steer loaders, and backhoes. The feature of GMRS to allow private channels is very important for building a privacy-closed farm communication system, contributing to its adoption in agricultural applications. Thus, the rising farm operation propels the general mobile radio service (GMRS) radios market share for the segment.
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
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General Mobile Radio Service (GMRS) Radios Market Regional Analysis:
Based on geography, the general mobile radio service (GMRS) radios market is primarily segmented into North America, Europe, Asia Pacific (APAC), and the Rest of World. North America is expected to account for the largest general mobile radio service (GMRS) radios market share in 2023, followed by Europe. General mobile radio service (GMRS) radios market in the Asia Pacific region is expected to grow at considerable CAGR during the forecast period.
In the US, handled and in-vehicle GMRS radios are used for different applications such as off-road, recreational, and agriculture. GMRS radios are widely used in off-road activities and competitions for efficient communication among off-road enthusiasts, team members, and competition authorities. In addition, there is a rise in outdoor recreational activities such as camping, hiking, and skiing. For instance, according to National Ski Areas Association (NSAA), American ski resorts reported 64.7 million visits during the 2022–2023 season, a 6.6% increase over the previous year. This increase can be attributed to heavy snowfall and a rise in demand for outdoor recreation post-pandemic. The increase in visitors demands GMRS radios for better communication among groups, individuals, and coordinators. Thus, the rise in outdoor recreational activities propels the general mobile radio service (GMRS) radios market growth in the US.
Key Player Analysis:
The general mobile radio service (GMRS) radios market analysis consists of the players such as Tidradio; Rugged Race Products Inc; Quanzhou Chierda Electronic Telecom Co Ltd; WOUXUN ELECTRONICS CO., LTD.,; Midland Radio Corp; Hongkong Retevis Trade Co Ltd; Fujian Baofeng Electronics Co Ltd; Sainstore Inc; Iradio Electronics Co Ltd; QYT Electronics Co Ltd. are the top two players owing to the diversified product portfolio offered.
Recent Developments:
Inorganic and organic strategies such as mergers and acquisitions are highly adopted by companies in the general mobile radio service (GMRS) radios market. A few recent key market developments are listed below:
- In May 2022, in private network communication, users and amateur radio enthusiasts voted according to their preferences on the favorite brand among several interphone brands and euro interphones. Wouxun, a GMRS radios provider, was selected among the top 10 popular brands. The company is gaining customers' trust with its offerings.
- In January 2023, Hongkong Retevis Trade Co Ltd launched RA86 MicroMobile 20W GMRS Two-Way Radio with an external magnetic mount and 2dB antenna for extended range
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Australia, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, South Korea, United Kingdom, United States
Frequently Asked Questions
The key players, holding majority shares, in general mobile radio service (GMRS) radio market includes Quanzhou Chierda Electronic Telecom Co Ltd, Midland Radio Corp, Hongkong Retevis Trade Co Ltd, Fujian Baofeng Electronics Co Ltd, and Sainstore Inc.
The general mobile radio service (GMRS) radio market was estimated to be US$ 131.00 million in 2022 and is expected to grow at a CAGR of 2.9 %, during the forecast period 2023 - 2030.
Development of Advanced GMRS Radios
Benefits of Using GMRS Radios in Agricultural Sector
Europe is anticipated to grow with the highest CAGR over the forecast period.
The general mobile radio service (GMRS) radio market is expected to reach US$ 162.88 million by 2030.
The List of Companies - General Mobile Radio Service (GMRS) Radio Market
- QYT Electronics Co Ltd
- Tidradio
- Rugged Race Products Inc
- Quanzhou Chierda Electronic Telecom Co Ltd
- WOUXUN ELECTRONICS CO LTD
- Midland Radio Corp
- Hongkong Retevis Trade Co Ltd
- Fujian Baofeng Electronics Co Ltd
- Sainstore Inc
- Iradio Electronics Co Ltd
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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