Push to Talk Market Worth $38.4 Billion by 2024 - Exclusive Report by MarketsandMarkets

CHICAGO, Jan. 8, 2020 /PRNewswire/ --  According to a new market research report "Push to Talk Market by Component (Hardware, Solutions, and Services), Network type (LMR and Cellular), Organization Size (SMEs and Large Enterprises), Vertical (Public Safety, Government and Defense, Commercial), and Region - Global Forecast to 2024", published by MarketsandMarkets, the global Push to Talk Market size to grow from USD 25.0 billion in 2019 to USD 38.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.0% during the forecast period.

Major factors expected to drive the growth of the Push to Talk Market include the rising adoption of push to talk over Cellular (PoC) in commercial verticals, increasing adoption of the first mobile strategy by push to talk vendors, and growing need for workforce safety.

Browse in-depth TOC on "Push to Talk Market"

100 – Tables
36 – Figures  
144 – Pages     

Ask for PDF Brochure:

https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=113448870

Among organization size, the large enterprises segment to hold a higher market share during the forecast period

Organizations with more than 1,000 employees are considered under the large enterprises segment. These organizations have multiple offices and divisions across regions, and hence, push to talk solutions can solve the gaps in communications with real-time communication and other multimedia sharing features. The emergence of cloud-based push to talk also allows for instant real-time communication between workforce teams by using their own devices. The PoC solution is device-agnostic, and hence, large enterprises can leverage their employees' devices to install PoC applications in these devices for communication purposes.

Under verticals, the commercial vertical to grow at the fastest growth rate during the forecast period

The commercial vertical is an early adopter of the PoC technology. The commercial verticals include transportation and logistics, travel and hospitality, energy and utilities, construction, manufacturing, and others such as retail, mining, education, and healthcare. The need for constant and reliable communication between field workers, dispatchers, and other personnel is surging the demand for PoC solutions. Additionally, the Bring Your Own Device (BYOD) trend is fueling the market growth as PoC apps can be installed on devices, thereby reducing the extra cost of procuring push to talk devices.