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WEARABLE DIGITAL WALKIE-TALKIE MARKET ANALYSIS

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A digital walkie-talkie digitizes the voice of the user into a stream, which is converted back into an audio signal at the receiver’s end. Conventionally, walkie-talkies are commercialized has hand-held devices with advanced technologies to provide higher user comfort. With primary objective to establish all-round connectivity such as other electronics, the walkie-talkies are witnessing a massive transformation. It is used for various applications including personal activity, commercial activity, store activity, training activity, tourism activity, military, and law enforcement. The global Wearable Digital Walkie-Talkie Market was accounted for US$ 11,44.6 Mn in terms of value and 8,805 Thousand units in terms of volume in 2019 and is expected to grow at CAGR of 31.9% for the period 2020-2027. – PowerPoint PPT presentation

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Title: WEARABLE DIGITAL WALKIE-TALKIE MARKET ANALYSIS


1
  • Coherent Market Insights
  • Market Research and Business Consulting Services
  • https//www.coherentmarketinsights.comWEARABLE
    DIGITAL WALKIE-TALKIE MARKET
  • ANALYSIS

2
Market Overview
  • A walkie-talkie is a hand-held, portable, two-way
    radio transceiver, which is equipped with a
    microphone and speaker. A wearable digital
    walkie-talkie is a compact, battery-operated, and
    wearable transmitting and receiving communication
    device. It is used for various applications
    including personal activity, commercial activity,
    store activity, training activity, tourism
    activity, military, and law enforcement. The
    global wearable digital walkie-talkie market
    focuses on five regions namely North America,
    Latin America, Europe, Asia Pacific, and Middle
    East Africa.
  • The global Wearable Digital Walkie-Talkie Market
    was accounted for US 11, 44.6 Mn in terms of
    value and 8,805 Thousand units in terms of volume
    in 2019 and is expected to grow at CAGR of
    31.9 for the period 2020-2027.

3
Market Dynamics- Drivers
  • Increased disposable income is expected to drive
    growth of the wearable digital walkie-talkie
    market during the forecast period
  • Rising disposable income and global consumer
    expenditure is the major factor boosting the
    demand for digital walkie-talkies. Furthermore,
    growing population, especially in emerging
    economies such as asia pacific is expected to
    drive growth of the global wearable digital
    walkie-talkie market during the forecast period.
  • High growth of consumer electronics industry is
    expected to propel the global wearable digital
    walkie-talkie market growth over the forecast
    period
  • Consumer electronics industry across the globe,
    especially in emerging economies such as india
    and china is expanding rapidly. According to the
    india brand equity foundation (ibef), the indian
    appliance and consumer electronics market was
    valued at us 10.93 billion in 2019 and is
    expected to reach us 21.18 billion by 2028..

4
Statistics
  • North America held dominant position in the
    global Wearable Digital Walkie-Talkie market
    in 2019, accounting for 36.9 share in terms of
    value, followed by Europe and Asia Pacific,
    respectively

5
Figure 1 Global Wearable Digital
Walkie-Talkie Market Share () in terms of Value,
By Region, 2019
6
  • Wearable Digital Walkie-Talkie Market - Impact of
    Coronavirus (Covid-19) Pandemic
  • Many countries around the globe such as India,
    Spain and Italy have imposed nationwide lockdown.
    For Instance, India have imposed lockdown from 25
    March to 1 June till the further notice. In this
    lockdown retail shops and Cinema halls in the
    malls will remain closed. The Digital
    Walkie-Talkie are widely used in the retail shops
    and Cinema halls for communication. 
  • Moreover the Digital Walkie-Talkie are widely
    used Hospitality Industry. Various governments
    around the globe such as Indian Government shut
    down the all the Hotels and Restaurants during
    the Lockdown. Owing to the above mentioned
    factors, the COVID-19 is expected to restrain the
    growth of the market in the year 2020.

7
Market Dynamics- Restraints
  • Limited number of manufacturers is expected to
    hinder the global wearable digital walkie-talkie
    market growth over the forecast period
  • The wearable digital walkie-talkie market is at a
    nascent stage and currently, only a few players
    exist in the global wearable digital
    walkie-talkie market, i.e. STARNEX Co., Ltd.,
    OrionLab, Inc., Theatro, AWIRE Technology Corp.,
    etc. Thus, these factors are expected to hinder
    the global wearable digital walkie-talkie market
    growth in the near future.
  • Stringent regulations regarding security are
    expected to hamper the global wearable digital
    walkie-talkie market growth during the forecast
    period
  • Wearable digital walkie-talkie technology needs
    further advancements and tweaking to develop a
    proper control system that will ensure security.
    Currently, the security system of these
    walkie-talkies has a few loop holes, especially
    when it comes to group administration. Therefore,
    these factors are expected to hamper the market
    growth over the forecast period.

8
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9
Market Opportunities
  • Rising demand for hands-free wearable digital
    walkie-talkie can present lucrative growth
    opportunities
  • Adoption of hands-free walkie-talkies is the
    latest trend in the market. A wearable
    walkie-talkie allows users to have their hands
    free to perform other tasks. Companies such as
    Starnex, Orion, formerly OnBeep Theatro, are
    focused on manufacturing hands-free
    walkie-talkies. These devices are finding
    application in stores, for sporting events,
    trekking, and mountaineering, etc.
  • Growing emphasis on low radio frequency usage to
    avoid regulatory restrictions
  • Functional dependence on radio frequencies makes
    use of walkie-talkies restricted to particular
    countries, as regulations differ for each
    country. Companies such as Orion are selling
    their products in specific countries such as the
    U.S. and Canada only, due to the same regulatory
    reason.

10
Figure 2 Global Wearable Digital Walkie-Talkie
Market Value (US Mn), 2017 - 2027
11
Market Trends
  • North America Trends
  • Increasing number of market players
  • The number of wearable digital walkie-talkie
    manufacturers is steadily increasing in the North
    America region, especially the U.S., due to high
    demand for advanced technological products. Key
    companies involved in the regional market are
    Orion, Inc., Theatro, and AWIRE Technology Corp.
  • Growing demand for in-store communication devices
  • There is a high demand for in-store communication
    devices, especially in retail outlets. For
    instance, in 2013, The Container Store deployed
    wearable communication technology by Theatro for
    in-store communications.
  • Latin America Trends
  • High growth of regional consumer electronics
    market
  • The Latin America consumer electronics market is
    expanding rapidly, which in turn, is boosting the
    demand for wearable digital electronic devices.
    Countries such as Brazil and Mexico are the main
    contributors to market growth in this region.

12
Key Developments
  • Major companies in the market are focused on
    product launches, in order to enhance the market
    presence. For instance, in January 2018,
    OrionLabs, Inc. introduced App Talk, a new button
    feature that turns Orion mobile application into
    a walkie-talkie app.
  • Key players in the market are involved in product
    development, in order to gain a competitive edge
    in the market. For instance, in July 2018,
    OrionLabs, Inc. introduced real-time voice
    communications for public safety.

13
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  • Reference
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    ght/wearable-digital-walkie-talkie-market-3893

14
About Us
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15
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16
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