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

Two-Way Radio Equipment Market

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  CAGR (2021 - 2028)

  6.2%
• Market Size 2021
  US$ 7.88 Billion
• Market Size 2028
  US$ 12.03 Billion

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• 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

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Type

• Digital and Analog

Signal Frequency

• Very High Frequency

End Use Industry

• Government & Public Safety
• Manufacturing
• Utilities
• Transportation & Logistics
• Education
• Hospitality
• Others

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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.

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.

 

Two Way Radio Equipment Market Report Scope

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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.