Two-Way Radio Equipment Market Key Companies and SWOT Analysis by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2024-2031

Two-Way Radio Equipment Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Digital and Analog), Signal Frequency (Very High Frequency (VHF) and Ultra-High Frequency (UHF)), and End-Use Industry (Government & Public Safety, Manufacturing, Utilities, Transportation & Logistics, Education, Hospitality, and Others), and Geography

  • Report Date : Sep 2025
  • Report Code : TIPRE00003615
  • Category : Electronics and Semiconductor
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

The two-way radio equipment market size is projected to reach US$ 14.05 billion by 2031 from US$ 7.84 billion in 2023. The market is expected to register a CAGR of 7.6% during 2023–2031. The rising adoption of digital two-way radio over analog equipment and increasing demand for two-way radio equipment in manufacturing sensors are likely to be the key drivers and trends of the market.

Two-Way Radio Equipment Market Analysis

The two-way radio equipment market is experiencing significant market growth globally. This growth is attributed to factors such as the rising adoption of digital two-way radio over analog equipment and increasing demand for two-way radio equipment in manufacturing sensors. Moreover, increasing procurement of two-way radio equipment by government agencies is anticipated to drive market growth in the coming years.

Two-Way Radio Equipment Market Overview

A two-way radio is considered a radio transceiver. This radio can both communicate and receive radio waves, which is utilized for bidirectional person-to-person voice communication with other users with similar radios, in difference to a broadcast receiver, which only receives transmissions. Two-way radios usually use a half-duplex communication channel, which sanctions two-way communication, even though with the limitation that only one user can transmit at a time.

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Two-Way Radio Equipment Market: Strategic Insights

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Two-Way Radio Equipment Market Drivers and Opportunities

Growing Importance of Effective Critical Communication to Favor Market.

The growing importance of effective critical communication is indeed driving the market. Two-way radio technology has evolved from traditional analog voice to complex systems with trunking and digital capabilities that enable features such as group calling, rapid voice call setup, high-quality audio, and guaranteed priority access to the end user. With an increase in crime, terrorism, and natural disasters, industries are required to adopt new technologies to enable rapid and effective real-time reactions. Effective communication is critical for public safety responders who must keep connected at the control center while also acquiring situational information in real-time when reacting to situations.

Rising cases of natural calability.

The rising cases of natural calamities, including hurricanes, earthquakes, wildfires, and floods, have significantly increased the demand for reliable voic systems, thus acting as a driver for the two-way radio equipment market. In September 2023, according to the National Oceanic and Atmospheric Administration, the US endured a huge 23 separate weather and climate disasters that each led to at least US$1 billion in damage. During such natural disasters, traditional communication infrastructures such as cellular networks and internet connectivity can often be disrupted due to damaged infrastructure or overload. In such situations, emergency responders, government agencies, and relief organizations heavily rely on two-way radio for critical communication, as they offer robust and resilient communication capabilities.

Two Way Radio Equipment Market Report Segmentation Analysis

Key segments that contributed to the derivation of the two-way radio equipment market analysis are type, signal frequency, and end use industry.

  • Based on type, the two-way radio equipment market is divided into digital and analog. The digital segment is anticipated to hold a significant market share in the forecast period.
  • Based on signal frequency, the two-way radio equipment market is divided into very high frequency (VHF) and ultra-high frequency (UHF)). The very high frequency (VHF) segment is anticipated to hold a significant market share in the forecast period.
  • By end use industry, the market is segmented into government & public safety, manufacturing, utilities, transportation & logistics, education, hospitality, and others. The government & public safety segment is anticipated to hold a significant market share in the forecast period.

Two-Way Radio Equipment Market Share Analysis by Geography

The geographic scope of the two way radio equipment market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

North America has dominated the two-way radio equipment market. High technology adoption trends in various industries in the North American region have fuelled the growth of the two-way radio equipment market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North American two-way radio equipment market growth. The rising adoption of digital two-way radio over analog equipment and increasing demand for two-way radio equipment in manufacturing sensors. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of two way radio equipment market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the two-way radio equipment market.

Two-Way Radio Equipment Market Regional Insights

The regional trends and factors influencing the Two-Way Radio Equipment Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Two-Way Radio Equipment Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

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  • Get the Regional Specific Data for Two-Way Radio Equipment Market

Two-Way Radio Equipment Market Report Scope

Report Attribute Details
Market size in 2023 US$ 7.84 Billion
Market Size by 2031 US$ 14.05 Billion
Global CAGR (2023 - 2031) 7.6%
Historical Data 2021-2022
Forecast period 2024-2031
Segments Covered By Type
  • Digital
  • Analog
By Signal Frequency
  • Very High Frequency
  • Ultra-High Frequency
By End-Use Industry
  • Government & Public Safety
  • Manufacturing
  • Utilities
  • Transportation & Logistics
  • Education
  • Hospitality
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • 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.

  • Two-Way Radio Equipment Market Players Density: Understanding Its Impact on Business Dynamics

    The Two-Way Radio Equipment Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Two-Way Radio Equipment Market are:

    1. BK Technologies Inc.
    2. Bearcom Group Inc.
    3. Hytera Communications Corporation Ltd
    4. Icom America Inc.
    5. Midland Radio Corporation
    6. Motorola Solutions Inc.

    Disclaimer: The companies listed above are not ranked in any particular order.


    two-way-radio-equipment-market-cagr

    • Get the Two-Way Radio Equipment Market top key players overview

    Two-Way Radio Equipment Market News and Recent Developments

    The two way radio equipment market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the two-way radio equipment market are listed below:

    • Hytera Communications, one of the leading global providers of professional communications technologies and solutions, has recently released its latest intrinsically safe (IS) radio series, including HP79XEx DMR Portable Two-way Radio and PT890Ex TETRA Portable Radio. (Source: Hytera Communications Company Website, November 2023)
    • Motorola Solutions announced the launch of the MOTOTRBO R7 in Europe, the Middle East and Africa. The new digital two-way radio offered advanced audio features and a slim, rugged design to connect teams in loud, rough and dynamic environments. (Source: Motorola Solutions Company Website, April 2022)

    Two-Way Radio Equipment Market Report Coverage and Deliverables

    The “Two Way Radio Equipment Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Two-way radio equipment market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Two-way radio equipment market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST/Porter’s Five Forces and SWOT analysis
    • Two-way radio equipment market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the two-way radio equipment market
    • Detailed company profiles

    Frequently Asked Questions

    What would be the estimated value of the two-way radio equipment market by 2031?

    The global two-way radio equipment market is expected to reach US$ 14.05 billion by 2031.

    Which are the leading players operating in the two-way radio equipment market?

    The key players holding majority shares in the global two-way radio equipment market are 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.

    What are the future trends of the two-way radio equipment market?

    The increasing procurement of two-way radio equipment by government agencies to drive the market in the forecast period.

    What are the driving factors impacting the two-way radio equipment market?

    The rising adoption of digital two-way radio over analog equipment and increasing demand for two-way radio equipment in manufacturing sensors are some of the factors driving the two-way radio equipment market.

    Which region dominated the two-way radio equipment market in 2023?

    North America is anticipated to dominate the two-way radio equipment market in 2023.

    What is the expected CAGR of the two-way radio equipment market?

    The expected CAGR of the two-way radio equipment market is 7.6%.

    Naveen Chittaragi
    Naveen Chittaragi
    Associate Vice President,
    Market Research & Consulting

    Naveen is an experienced market research and consulting professional with over 9 years of expertise across custom, syndicated, and consulting projects. Currently serving as Associate Vice President, he has successfully managed stakeholders across the project value chain and has authored over 100 research reports and 30+ consulting assignments. His work spans across industrial and government projects, contributing significantly to client success and data-driven decision-making.

    Naveen holds an Engineering degree in Electronics & Communication from VTU, Karnataka, and an MBA in Marketing & Operations from Manipal University. He has been an active IEEE member for 9 years, participating in conferences, technical symposiums, and volunteering at both section and regional levels. Prior to his current role, he worked as an Associate Strategic Consultant at IndustryARC and as an Industrial Server Consultant at Hewlett Packard (HP Global).

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

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