The two-way radio equipment market is projected to grow from US$ 7,883.32 million in 2021 to US$ 12,034.52 million by 2028; it is estimated to grow at a CAGR of 6.2% from 2021 to 2028.
Analog and digital two-way radios use a carrier frequency wave of very high frequency (VHF) or ultra high frequency (UHF) to convey signals over a radio channel. Analog radios encode a spoken signal into a carrier wave using frequency modulation (FM). Digital radios do the same thing, but before the voice signal reaches the carrier wave, it goes through an extra encoding step where the message is encoded into binary packets to modulate the carrier wave frequency. With the rise in business opportunities across all industries, the need for reliable and real time communication is increasing. Further, increased channel capacity, longer range coverage, better voice quality, longer battery life, GPS tracking, and trucking are the major benefits increasing the adoption of digital two way communication equipment. The use of a digital two-way radio system improves the performance and efficiency of the radio communications system. It opens the door to various integrated applications and solutions that can unify communications from end to end, transforming the way businesses work. The digital radio system also covers applications such as video and security, dispatch, and job tickets. The rising demand for digital two-way radio equipment is influencing the players to develop new products. For instance, Motorola Solutions announced the launch of MOTOTRBO R7 in January 2022. It is digital two-way radio equipment with superior audio features and a small, rugged design for connecting teams in loud, harsh, and dynamic environments. All these factors are influencing the adoption of digital two-way radio equipment over analog systems, which drives the two-way radio equipment market growth.
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Two-Way Radio Equipment Market: Strategic Insights
Market Size Value in US$ 7,883.32 Million in 2021 Market Size Value by US$ 12,034.52 Million by 2028 Growth rate CAGR of 6.2% from 2021 to 2028 Forecast Period 2021-2028 Base Year 2021
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Two-Way Radio Equipment Market: Strategic Insights
| Market Size Value in | US$ 7,883.32 Million in 2021 |
| Market Size Value by | US$ 12,034.52 Million by 2028 |
| Growth rate | CAGR of 6.2% from 2021 to 2028 |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
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Impact of COVID-19 Pandemic on Two-Way Radio Equipment Market
The adoption of two-way radio equipment increased to enhance employee communication on the floor and ensure their safety before the COVID-19 pandemic. However, the onset of the COVID-19 pandemic led to disruptions of various industries, such as manufacturing, transportation & logistics, education, and retail. Several government initiatives to combat the spread of the virus, such as travel restrictions and social distancing, led to the temporary closure of retail units, manufacturing units, and educational institutions, which adversely impacted the two-way radio equipment market in the first two quaters of 2020. On the other hand, with the normalization of economic activities, the manufacturing facilities started to operate with half capacity, and retail outlets reopened with specified standards and norms. This scenario created a demand for the communication systems from the third quarter of 2020, thereby reducing the impact of the COVID-19 pandemic on the two-way radio equipment market.
Lucrative Regions for Two-Way Radio Equipment Market
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Market Insights – Two-Way Radio Equipment Market
North America is the most technically advanced region, owing to a well-established technology ecosystem, the existence of favorable economic policies, high acceptance of advanced technologies, and high GDP in countries such as the US and Canada. Further, technological advancements increased the adoption of advanced two-way radio equipment across various domains such as public safety, transportation, logistics, utilities, education, and hospitality.
Quick and effective communication is vital for law enforcement officers and the respective personnel who support them. As per the US Census Bureau Data of 2019, the country spent US$ 205 billion on law enforcement, which included expenditure of US$ 123 billion on policing and US$ 82 billion on corrections. Though relatively less populated than other US states, Washington, DC, and Nevada spent the most on policing and corrections.
Type-based Insights
Based on type, the two-way radio equipment market is segmented into digital and analog. The analog segment accounted for the higher share in 2020. Analog two-way radio experienced a high adoption for mission-critical communications for decades. It is still a popular alternative for efficient and dependable communications due to its short connection time, support for multipoint calls, and lack of service providers. The analog two-way radios also provide high-quality audio, are simple to use, and have durable equipment driving the adoption of mission-critical applications over the years. Some of the major companies that offer analog two-way radio equipment are Motorola Solutions, Inc.; Hytera US Inc.; and Icom (UK) Ltd, among others.
The two-way radio equipment market is analyzed on the basis of type, signal frequency, end-use industry, and geography. Based on type, the two-way radio equipment market is bifurcated into digital and analog. Based on signal frequency, the two-way radio equipment market is segmented into very high frequency (VHF) and ultra high frequency (UHF). Based on end use industry, the two-way radio equipment market is segmented into government & public safety, manufacturing, utilities, transportation & logistics, education, hospitality, and others. Based on geography, the two-way radio equipment market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South and Central America. BK Technologies, Motorola Corporation, L3Harris technologies, Hytera Communications, and JVCKENWOOD Corporation are among the few players that are profiled during this study.
Players operating in the two-way radio equipment market are mainly focused on the development of advanced and efficient products.
- In 2022, Motorola Solutions launched the MOTOTRBO R7, two-way digital radio with superior audio capabilities and a small, robust design for connecting teams in noisy, harsh, and dynamic settings.
- In 2020, JVCKENWOOD Corporation and EF Johnson Technologies, Inc. (EFJT) won the California Highway Patrol (CHP) contract in the US to deliver professional digital radio systems.
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, Signal Frequency, and End Use Industry
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The rising demand for efficient communication and safety and security across various end-use industries, such as manufacturing, government & public safety, education, hospitality, military & defense, retail, construction, transportation & logistics, and utilities, is fueling the growth of the two-way radio equipment market.
Military expenditure is rising across the world due to various factors such as rising warfare, increasing government initiatives to strengthen military & defense sector, and growing terrorism. The global expenditure on the military & defense sector increased by 2.6% in 2020 according to the data published by Stockholm International Peace Research Institute (SIPRI). A few of the highest spenders in 2020 are the US, China, India, Saudi Arabia, and Russia. Due to rising military expenditure across countries, the military & defense bodies are increasingly acquiring efficient communication system. For instance, with increased expenditure for acquisition and development in military communications, electronics, telecommunications, and intelligence (CET&I) technology, the US military is spending significant amount on acquisition of communication electronics in 2019. Thus, in 2019, the US invested US$ 351.6 million in the procurement of handheld manpack small form fit (HMS) radios. These factors are expected to create lucrative opportunities for the growth of the global two way equipment market during the forecast period
The analog segment led the two-way radio equipment market with a market share of 57.4% in 2020. It is expected to account for 55.3% of the total market in 2028.
The two-way radio equipment market was dominated by North America, which accounted for 39.3% in 2020 and will continue to dominate the market by 2028 accounting for 39.4% of revenue share. Europe is the second-largest contributor to the two-way radio equipment market, followed by APAC.
The major companies in two-way radio equipment market includes BK Technologies Inc.; Hytera Communications Corporation Ltd; Icom America Inc.; Midland Radio Corporation; Motorola Solutions Inc.; Tait Communications; Wintec Co., Ltd; Uniden America Corporation; and JVCKENWOOD Corporation.
The government & public safety segment led the two-way radio equipment market with a market share of 37.8% in 2020. It is expected to account for 37.6% of the total market in 2028.
1. Introduction
1.1 Study Scope
1.2 The Insight Partners Research Report Guidance
1.3 Market Segmentation
2. Two-Way Radio Equipment Market- Key Takeaways
3. Research Methodology
3.1 Coverage
3.2 Secondary Research
3.3 Primary Research
4. Two-Way Radio Equipment Market Landscape
4.1 Market Overview
4.2 PEST Analysis
4.2.1 North America – PEST Analysis
4.2.2 Europe – PEST Analysis
4.2.3 Asia Pacific – PEST Analysis
4.2.4 MEA – PEST Analysis
4.2.5 South America – PEST Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
4.5 Premium Insights
4.5.1 USA GMRS/FRS DEVICES REVENUE ANALYSIS
4.5.2 PRIVATE/PROFESSIONAL MOBILE RADIO (PMR) REVENUE AND FORECASTS TO 2028 (US$ BN)
4.5.3 GMRS/FRS/PMR APPLICATION AND ADOPTION TREND ANALYSIS
4.5.3.1 GMRS
4.5.3.2 FRS
4.5.3.3 PMR
5. Two-Way Radio Equipment Market – Key Market Dynamics
5.1 Market Drivers
5.1.1 Rising Adoption of Digital Two Way Radio over Analog Equipment
5.1.2 Increasing Demand for Two-Way Radio Equipment in Manufacturing Sector
5.2 Market Restraints
5.2.1 High Life Span
5.3 Market Opportunities
5.4 Future Trends
5.4.1 Increasing Procurement of Two-Way Radio Equipment by Government Agencies
5.5 Impact Analysis of Drivers and Restraints
6. Two Way Radio Equipment– Global Market Analysis
6.1 Overview
6.2 Global Two-Way Radio Equipment Market Forecast And Analysis
6.3 Market Positioning of Key Players
7. Two-Way Radio Equipment Market Analysis – by Type
7.1 Overview
7.2 Two-Way Radio Equipment Market Breakdown, by Type, 2020 and 2028
7.3 Digital
7.3.1 Overview
7.3.2 Digital: Two-Way Radio Equipment Market Revenue and Forecast to 2028 (US$ Million)
7.4 Analog
7.4.1 Overview
7.4.2 Analog: Two-Way Radio Equipment Market Revenue and Forecast to 2028 (US$ Million)
8. Two-Way Radio Equipment Market Analysis – by Signal Frequency
8.1 Overview
8.2 Two-Way Radio Equipment Market, by Signal Frequency (2020 and 2028)
8.3 Very High Frequency (VHF)
8.3.1 Overview
8.3.2 Very High Equipment (VHF): Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
8.4 Ultra-High Frequency (UHF)
8.4.1 Overview
8.4.2 Ultra-High Frequency (UHF): Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9. Two-Way Radio Equipment Market Analysis – by End-Use Industry
9.1 Overview
9.2 Two-Way Radio Equipment Market, by End-Use Industry (2020 and 2028)
9.3 Government and Public Safety
9.3.1 Overview
9.3.2 Government and Public Safety: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.4 Manufacturing
9.4.1 Overview
9.4.2 Manufacturing: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.5 Utilities
9.5.1 Overview
9.5.2 Utilities: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.6 Transportation and Logistics
9.6.1 Overview
9.6.2 Transportation and Logistics: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.7 Education
9.7.1 Overview
9.7.2 Education: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.8 Hospitality
9.8.1 Overview
9.8.2 Hospitality: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
9.9 Others
9.9.1 Overview
9.9.2 Others: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10. Two-Way Radio Equipment Market – Geographic Analysis
10.1 Overview
10.2 North America: Two-Way Radio Equipment Market
10.2.1 North America: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.2.2 North America: Two-Way Radio Equipment Market, by Type
10.2.3 North America: Two-Way Radio Equipment Market, by Signal Frequency
10.2.4 North America: Two-Way Radio Equipment Market, by End-Use Industry
10.2.5 North America: Two-Way Radio Equipment Market, by Key Country
10.2.5.1 US: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.1.1 US: Two-Way Radio Equipment Market, by Type
10.2.5.1.2 US: Two-Way Radio Equipment Market, by Signal Frequency
10.2.5.1.3 US: Two-Way Radio Equipment Market, by End-Use Industry
10.2.5.2 Canada: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.2.1 Canada: Two-Way Radio Equipment Market, by Type
10.2.5.2.2 Canada: Two-Way Radio Equipment Market, by Signal Frequency
10.2.5.2.3 Canada: Two-Way Radio Equipment Market, by End-Use Industry
10.2.5.3 Mexico: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.2.5.3.1 Mexico: Two-Way Radio Equipment Market, by Type
10.2.5.3.2 Mexico: Two-Way Radio Equipment Market, by Signal Frequency
10.2.5.3.3 Mexico: Two-Way Radio Equipment Market, by End-Use Industry
10.3 Europe: Two-Way Radio Equipment Market
10.3.1 Europe: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.2 Europe: Two-Way Radio Equipment Market, by Type
10.3.3 Europe: Two-Way Radio Equipment Market, by Signal Frequency
10.3.4 Europe: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5 Europe: Two-Way Radio Equipment Market, by Key Country
10.3.5.1 France: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.1.1 France: Two-Way Radio Equipment Market, by Type
10.3.5.1.2 France: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.1.3 France: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5.2 Germany: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.2.1 Germany: Two-Way Radio Equipment Market, by Type
10.3.5.2.2 Germany: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.2.3 Germany: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5.3 Italy: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.3.1 Italy: Two-Way Radio Equipment Market, by Type
10.3.5.3.2 Italy: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.3.3 Italy: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5.4 UK: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.4.1 UK: Two-Way Radio Equipment Market, by Type
10.3.5.4.2 UK: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.4.3 UK: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5.5 Russia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.5.1 Russia: Two-Way Radio Equipment Market, by Type
10.3.5.5.2 Russia: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.5.3 Russia: Two-Way Radio Equipment Market, by End-Use Industry
10.3.5.6 Rest of Europe: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.3.5.6.1 Rest of Europe: Two-Way Radio Equipment Market, by Type
10.3.5.6.2 Rest of Europe: Two-Way Radio Equipment Market, by Signal Frequency
10.3.5.6.3 Rest of Europe: Two-Way Radio Equipment Market, by End-Use Industry
10.4 APAC: Two-Way Radio Equipment Market
10.4.1 APAC: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.2 APAC: Two-Way Radio Equipment Market, by Type
10.4.3 APAC: Two-Way Radio Equipment Market, by Signal Frequency
10.4.4 APAC: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5 APAC: Two-Way Radio Equipment Market, by Key Country
10.4.5.1 Australia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.1.1 Australia: Two-Way Radio Equipment Market, by Type
10.4.5.1.2 Australia: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.1.3 Australia: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5.2 China: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.2.1 China: Two-Way Radio Equipment Market, by Type
10.4.5.2.2 China: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.2.3 China: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5.3 India: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.3.1 India: Two-Way Radio Equipment Market, by Type
10.4.5.3.2 India: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.3.3 India: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5.4 Japan: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.4.1 Japan: Two-Way Radio Equipment Market, by Type
10.4.5.4.2 Japan: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.4.3 Japan: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5.5 South Korea: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.5.1 South Korea: Two-Way Radio Equipment Market, by Type
10.4.5.5.2 South Korea: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.5.3 South Korea: Two-Way Radio Equipment Market, by End-Use Industry
10.4.5.6 Rest of APAC: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.4.5.6.1 Rest of APAC: Two-Way Radio Equipment Market, by Type
10.4.5.6.2 Rest of APAC: Two-Way Radio Equipment Market, by Signal Frequency
10.4.5.6.3 Rest of APAC: Two-Way Radio Equipment Market, by End-Use Industry
10.5 MEA: Two-Way Radio Equipment Market
10.5.1 MEA: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5.2 MEA: Two-Way Radio Equipment Market, by Type
10.5.3 MEA: Two-Way Radio Equipment Market, by Signal Frequency
10.5.4 MEA: Two-Way Radio Equipment Market, by End-Use Industry
10.5.5 MEA: Two-Way Radio Equipment Market, by Key Country
10.5.5.1 South Africa: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.1.1 South Africa: Two-Way Radio Equipment Market, by Type
10.5.5.1.2 South Africa: Two-Way Radio Equipment Market, by Signal Frequency
10.5.5.1.3 South Africa: Two-Way Radio Equipment Market, by End-Use Industry
10.5.5.2 Saudi Arabia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.2.1 Saudi Arabia: Two-Way Radio Equipment Market, by Type
10.5.5.2.2 Saudi Arabia: Two-Way Radio Equipment Market, by Signal Frequency
10.5.5.2.3 Saudi Arabia: Two-Way Radio Equipment Market, by End-Use Industry
10.5.5.3 UAE: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.3.1 UAE: Two-Way Radio Equipment Market, by Type
10.5.5.3.2 UAE: Two-Way Radio Equipment Market, by Signal Frequency
10.5.5.3.3 UAE: Two-Way Radio Equipment Market, by End-Use Industry
10.5.5.4 Rest of MEA: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.5.5.4.1 Rest of MEA: Two-Way Radio Equipment Market, by Type
10.5.5.4.2 Rest of MEA: Two-Way Radio Equipment Market, by Signal Frequency
10.5.5.4.3 Rest of MEA: Two-Way Radio Equipment Market, by End-Use Industry
10.6 SAM: Two-Way Radio Equipment Market
10.6.1 SAM: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.6.2 SAM: Two-Way Radio Equipment Market, by Type
10.6.3 SAM: Two-Way Radio Equipment Market, by Signal Frequency
10.6.4 SAM: Two-Way Radio Equipment Market, by End-Use Industry
10.6.5 SAM: Two-Way Radio Equipment Market, by Key Country
10.6.5.1 Brazil: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.1.1 Brazil: Two-Way Radio Equipment Market, by Type
10.6.5.1.2 Brazil: Two-Way Radio Equipment Market, by Signal Frequency
10.6.5.1.3 Brazil: Two-Way Radio Equipment Market, by End-Use Industry
10.6.5.2 Argentina: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.2.1 Argentina: Two-Way Radio Equipment Market, by Type
10.6.5.2.2 Argentina: Two-Way Radio Equipment Market, by Signal Frequency
10.6.5.2.3 Argentina: Two-Way Radio Equipment Market, by End-Use Industry
10.6.5.3 Rest of SAM: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
10.6.5.3.1 Rest of SAM: Two-Way Radio Equipment Market, by Type
10.6.5.3.2 Rest of SAM: Two-Way Radio Equipment Market, by Signal Frequency
10.6.5.3.3 Rest of SAM: Two-Way Radio Equipment Market, by End-Use Industry
11. Two-Way Radio Equipment Market – COVID-19 Impact Analysis
11.1 Overview
11.2 North America: Impact Assessment of COVID-19 Pandemic
11.3 Europe: Impact Assessment of COVID-19 Pandemic
11.4 Asia-Pacific: Impact Assessment of COVID-19 Pandemic
11.5 Middle East and Africa: Impact Assessment of COVID-19 Pandemic
11.6 South America: Impact Assessment of COVID-19 Pandemic
12. Industry Landscape
12.1 Overview
12.2 Market Initiative
12.3 New Product Development
13. Company Profiles
13.1 BK Technologies Inc.
13.1.1 Key Facts
13.1.2 Business Description
13.1.3 Products and Services
13.1.4 Financial Overview
13.1.5 SWOT Analysis
13.1.6 Key Developments
13.2 Hytera Communications Corporation Ltd
13.2.1 Key Facts
13.2.2 Business Description
13.2.3 Products and Services
13.2.4 Financial Overview
13.2.5 SWOT Analysis
13.2.6 Key Developments
13.3 Icom America Inc.
13.3.1 Key Facts
13.3.2 Business Description
13.3.3 Products and Services
13.3.4 Financial Overview
13.3.5 SWOT Analysis
13.3.6 Key Developments
13.4 Midland Radio Corporation
13.4.1 Key Facts
13.4.2 Business Description
13.4.3 Products and Services
13.4.4 Financial Overview
13.4.5 SWOT Analysis
13.4.6 Key Developments
13.5 Motorola Solutions Inc.
13.5.1 Key Facts
13.5.2 Business Description
13.5.3 Products and Services
13.5.4 Financial Overview
13.5.5 SWOT Analysis
13.5.6 Key Developments
13.6 Tait Communications
13.6.1 Key Facts
13.6.2 Business Description
13.6.3 Products and Services
13.6.4 Financial Overview
13.6.5 SWOT Analysis
13.6.6 Key Developments
13.7 Wintec Co., Ltd
13.7.1 Key Facts
13.7.2 Business Description
13.7.3 Products and Services
13.7.4 Financial Overview
13.7.5 SWOT Analysis
13.7.6 Key Developments
13.8 Uniden America Corporation
13.8.1 Key Facts
13.8.2 Business Description
13.8.3 Products and Services
13.8.4 Financial Overview
13.8.5 SWOT Analysis
13.8.6 Key Developments
13.9 JVCKENWOOD Corporation
13.9.1 Key Facts
13.9.2 Business Description
13.9.3 Products and Services
13.9.4 Financial Overview
13.9.5 SWOT Analysis
13.9.6 Key Developments
13.10 Ritron Inc
13.10.1 Key Facts
13.10.2 Business Description
13.10.3 Products and Services
13.10.4 Financial Overview
13.10.5 SWOT Analysis
13.10.6 Key Developments
14. Appendix
14.1 About The Insight Partners
14.2 Glossary
LIST OF TABLES
Table 1. USA GMRS/FRS DEVICES REVENUE AND FORECASTS ANALYSIS TO 2028 (US$ Million)
Table 2. PRIVATE/PROFESSIONAL MOBILE RADIO (PMR) REVENUE AND FORECASTS TO 2028 (US$ Billion)
Table 3. Global Two-Way Radio Equipment Market Revenue and Forecasts to 2028 (US$ Mn)
Table 4. North America: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 5. North America: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 6. North America: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 7. US: Two-Way Radio Equipment Market, by Type –Revenue and Forecast to 2028 (US$ Million)
Table 8. US: Two-Way Radio Equipment Market, by Signal Frequency –Revenue and Forecast to 2028 (US$ Million)
Table 9. US: Two-Way Radio Equipment Market, by End-Use Industry –Revenue and Forecast to 2028 (US$ Million)
Table 10. Canada: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 11. Canada: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 12. Canada: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 13. Mexico: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 14. Mexico: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 15. Mexico: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 16. Europe: Two-Way Radio Equipment Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 17. Europe: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 18. Europe: Two-Way Radio Equipment Market, by End-Use Industry– Revenue and Forecast to 2028 (US$ Million)
Table 19. France: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 20. France: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 21. France: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast t2o 2028 (US$ Million)
Table 22. Germany: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 23. Germany: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 24. Germany: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 25. Italy: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 26. Italy: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 27. Italy: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 28. UK: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 29. UK: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 30. UK: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 31. Russia: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 32. Russia: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 33. Russia: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 34. Rest of Europe: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 35. Rest of Europe: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 36. Rest of Europe: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 37. APAC: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 38. APAC: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 39. APAC: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 40. Australia: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 41. Australia: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 42. Australia: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 43. China: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 44. China: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 45. China: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 46. India: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 47. India: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 48. India: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 49. Japan: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 50. Japan: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 51. Japan: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 52. South Korea: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 53. South Korea: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 54. South Korea: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 55. Rest of APAC: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 56. Rest of APAC: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 57. Rest of APAC: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 58. MEA: Two-Way Radio Equipment Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 59. MEA: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 60. MEA: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 61. South Africa: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 62. South Africa: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 63. South Africa: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 64. Saudi Arabia: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 65. Saudi Arabia: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 66. Said Arabia: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 67. UAE: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 68. UAE: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 69. UAE: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 70. Rest of MEA: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 71. Rest of MEA: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 72. Rest of MEA: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 73. SAM: Two-Way Radio Equipment Market, by Type– Revenue and Forecast to 2028 (US$ Million)
Table 74. SAM: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 75. SAM: Two-Way Radio Equipment Market, by End-Use Industry– Revenue and Forecast to 2028 (US$ Million)
Table 76. Brazil: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 77. Brazil: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 78. Brazil: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 79. Argentina: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 80. Argentina: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 81. Argentina: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 82. Rest of SAM: Two-Way Radio Equipment Market, by Type – Revenue and Forecast to 2028 (US$ Million)
Table 83. Rest of SAM: Two-Way Radio Equipment Market, by Signal Frequency – Revenue and Forecast to 2028 (US$ Million)
Table 84. Rest of SAM: Two-Way Radio Equipment Market, by End-Use Industry – Revenue and Forecast to 2028 (US$ Million)
Table 85. Glossary of Terms, Two-Way Radio Equipment Market
LIST OF FIGURES
Figure 1. Two-Way Radio Equipment Market Segmentation
Figure 2. Two-Way Radio Equipment Market Segmentation – By Region
Figure 3. Two-Way Radio Equipment Market Overview
Figure 4. Analog Held the Highest Share in Global Two-Way Radio Equipment Market in 2020
Figure 5. Very High Frequency (VHF) Held the Highest Share in Global Two-Way Radio Equipment Market in 2020
Figure 6. Government & Public Safety Held the Highest Share in Global Two-Way Radio Equipment Market in 2020
Figure 7. Two-Way Radio Equipment Market, by Geography
Figure 8. North America – PEST Analysis
Figure 9. Europe – PEST Analysis
Figure 10. Asia Pacific – PEST Analysis
Figure 11. MEA – PEST Analysis
Figure 12. South America – PEST Analysis
Figure 13. Expert Opinion
Figure 14. Global Two-Way Radio Equipment Market: Impact Analysis of Drivers and Restraints
Figure 15. Global Two-Way Radio Equipment Market
Figure 16. Global Two-Way Radio Equipment Market Forecast and Analysis, (US$ Mn)
Figure 17. Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 18. Digital: Two-Way Radio Equipment Market Revenue and Forecast to 2028 (US$ Million)
Figure 19. Analog: Two-Way Radio Equipment Market Revenue and Forecast to 2028 (US$ Million)
Figure 20. Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 21. Very High Equipment (VHF): Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 22. Ultra-High Frequency (UHF): Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 23. Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 24. Government and Public Safety: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 25. Manufacturing: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 26. Utilities: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 27. Transportation and Logistics: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 28. Education: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 29. Hospitality: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 30. Others: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 31. Global Two-Way Radio Equipment Market Revenue Share, by Region (2020 and 2028)
Figure 32. North America: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 33. North America: Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 34. North America: Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 35. North America: Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 36. North America: Two-Way Radio Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 37. US: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 38. Canada: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 39. Mexico: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 40. Europe: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 41. Europe: Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 42. Europe: Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 43. Europe: Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 44. Europe: Two-Way Radio Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 45. France: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 46. Germany: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 47. Italy: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 48. UK: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 49. Russia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 50. Rest of Europe: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 51. APAC: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 52. APAC: Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 53. APAC: Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 54. APAC: Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 55. APAC: Two-Way Radio Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 56. Australia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 57. China: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 58. India: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 59. Japan: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 60. South Korea: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 61. Rest of APAC: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 62. MEA: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 63. MEA: Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 64. MEA: Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 65. MEA: Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 66. MEA: Two-Way Radio Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 67. South Africa: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 68. Saudi Arabia: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 69. UAE: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 70. Rest of MEA: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 71. SAM: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 72. SAM: Two-Way Radio Equipment Market Revenue Share, by Type (2020 and 2028)
Figure 73. SAM: Two-Way Radio Equipment Market Revenue Share, by Signal Frequency (2020 and 2028)
Figure 74. SAM: Two-Way Radio Equipment Market Revenue Share, by End-Use Industry (2020 and 2028)
Figure 75. SAM: Two-Way Radio Equipment Market Revenue Share, by Key Country (2020 and 2028)
Figure 76. Brazil: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 77. Argentina: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 78. Rest of SAM: Two-Way Radio Equipment Market – Revenue and Forecast to 2028 (US$ Million)
Figure 79. Impact of COVID-19 Pandemic in North America Country Markets
Figure 80. Impact of COVID-19 Pandemic in Europe Country Markets
Figure 81. Impact of COVID-19 Pandemic in Asia-Pacific Country Markets
Figure 82. Impact of COVID-19 Pandemic in Middle East and Africa Countries
Figure 83. Impact of COVID-19 Pandemic in South America Countries
The List of Companies - Two Way Radio Equipment Market
- BK Technologies Inc
- Bearcom Group Inc.
- Hytera Communications Corporation Ltd
- Icom America Inc.
- Midland Radio Corporation
- Motorola Solutions Inc.
- Tait Communications
- Wintec Co., Ltd
- Uniden America Corporation
- JVCKENWOOD Corporation
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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