Push-to-talk Market (PTT) technology has been around for over a century, originally developed for use in two-way radios. With advancements in technology, PTT has evolved to be used in modern communication devices such as smartphones and wearables. This technology is becoming increasingly popular in a variety of industries, including public safety, transportation, construction, and logistics.
According to a report by Fortune business insights, The global push-to-talk market size stood at USD 12.00 billion in 2019 and is projected to reach USD 25.22 billion by 2027, exhibiting a CAGR of 10.0% during the forecast period. The report cites the increasing demand for communication solutions in various industries as the primary driver of market growth.
One of the major benefits of PTT technology is its ability to provide instant communication, allowing individuals or groups to communicate effectively in real-time. This is particularly useful in industries such as public safety, where immediate communication is critical in emergency situations. PTT technology can also improve operational efficiency and productivity in other industries by streamlining communication and reducing the need for multiple devices.
The adoption of PTT technology has also been spurred by the growth of the Internet of Things (IoT). With the increasing number of connected devices, PTT technology can enable seamless communication between devices and systems, improving overall efficiency and productivity.
However, the PTT market faces several challenges that may impede its growth. One of the primary challenges is the lack of standardization in PTT technology, resulting in compatibility issues between different devices and systems.
List of the Companies Proliferating in the Market
- AT&T, Inc.
- Qualcomm Technologies, Inc.
- Motorola Solutions
- Kyocera Corporation
- Mobile Tornado
- Sprint Corporation
- Bell Canada
- Simoco Wireless Solutions
- Sonim Technologies Inc.
- Telo Systems
Drivers and Restraints:
Introduction of Technologically Advanced Products to Drive the Market
Voice communication has evolved drastically over the past decade. Emergence of fully equipped IP-based PTT communication technology over the radio is the testimony to the massive advancement in field of telecommunication. Communication is efficient and instant than ever before and has paved way for the companies to introduce innovative products that are technologically advanced across the globe. For instance, in April 2020, ESChat publicly announced its launch of ESChat broadband PTT service for the TELUS wireless network by completing the formalities of a commercial contract between the two companies that was forged in MAY 2019. Marshall Berkin, Vice President of TELUS, said on the sidelines of the development that the ESChat PTT service would harness the power of instant interaction and compatibility to enable professional group communication safe and reliable for our consumers. He further added, “Our collaboration with ESChat will propel the business to empower the mobile workforces while enabling us to be agile and save costs.”
Furthermore, according to the report, the companies are striving to gain maximum market share by adopting strategies such as signing contracts, joint ventures, and collaboration during the forecast period. For instance, in May 2020, Motorola Solutions announced that it has secured a fresh contract from the Israeli government to deploy new broadband push-to-talk (PTT) solution. According to the tender, the company is expected to provide over 10,000 devices to Israel that are powered by the WAVE Motorola solutions along with installing, operating, and maintaining the PTT communication services. Furthermore, the WAVE technology will boost the efficiency of operations among the government officers and the field personnel.
Improving Communication Infrastructures in Asia-Pacific to Augment Growth
Among the regions, Asia-Pacific that generated USD 2.91 Billion in 2017 is anticipated to be at the forefront during the forecast period. Factors such as increasing collaboration strategies among the companies and the distributors in the region will propel it to gain maximum global push-to-talk market revenue. Furthermore, constant development of communication infrastructures and growing impetus of public sector safety in countries such as China and India will bode well for the market growth in the forthcoming years.