PTT Market Projected to Grow at a CAGR of Over 11%

February 7, 2025

DENVER, Colo., Feb 07, 2025 (247marketnews.com)- As the Push-to-Talk (PTT) market continues to make inroads into the first responder, transportation, construction, and logistics industries, numerous studies project that the PTT market will continue to experience rapid growth into the future.

For example, the SNS Insider recently stated that the PTT market was valued at nearly $33 billion in 2023 and they believe it will exceed $84 billion by 2032, a CAGR of more than 11% for the forecast period.

The PTT market is poised for dynamic growth, with innovations in hardware and software, the expansion of cellular networks, and increasing demand for efficient communication solutions driving the market. The trend of workforce mobility and the growing need for integrated communications will continue to support the market’s expansion, especially in North America and the fast-growing Asia-Pacific region.

The rise in demand for instant communication first responders, transportation, and construction is propelling the growth of PTT systems. These systems, which allow users to communicate with just one touch, are becoming critical in sectors that require real-time, reliable communication, especially under extreme conditions.

The growing trend of integrating PTT with cellular networks ensures reliable and wide-reaching communication across industries, further fueling market growth.

The hardware segment continues to dominate, accounting for 45.7% of the market in 2023. There’s increasing demand for ruggedized devices that can support PTT, such as smartphones, radios, and communications terminals designed for extreme environments.

Land Mobile Radio (LMR) systems continue to hold the largest share of the market (58.7% in 2023), largely due to their reliability and long-range communication capabilities. Industries such as public safety, transportation, and utilities rely on LMR for secure, mission-critical communication.

However, the Cellular Push-to-Talk (PoC) segment is expected to grow at the fastest rate, driven by the increasing adoption of cellular networks. PoC solutions offer businesses with mobile workforces’ flexibility and better coverage, making them highly attractive to industries like logistics, construction, and field services.

Multiple companies, like Qualcomm (NASDAQ:QCOM) are reporting results that are in line with these lofty projections.

Qualcomm announced its first quarter of fiscal 2025 financial results, yesterday, which included non-GAAP EPS of $3.41, beating estimates by $0.44, while its $11.67 billion revenue beat estimates by $770 million.

Qualcomm is at the forefront of innovation and technology breakthroughs, working relentlessly to deliver intelligent computing solutions that address some of the world’s most pressing challenges. With nearly 40 years of leadership in setting industry standards and pioneering era-defining technologies, Qualcomm continues to drive transformation across multiple industries. Their Snapdragon-branded platforms are at the heart of extraordinary consumer experiences, offering high-performance, low-power computing, and unmatched connectivity. Qualcomm’s solutions are powering the next generation of AI, connectivity, and digital transformation, enriching lives, advancing businesses, and improving societies worldwide.

Siyata Mobile (NASDAQ:SYTA), a global developer and vendor of PoC handsets and accessories, reported record revenue growth, for the third quarter of 2024, marking a 200% year-over-year increase

SIyata strengthened its operating fundamentals, in 2024, by developing a strong product offering pipeline. Siyata also plans on holding a highly anticipated shareholder event is preparing to “make an announcement that is poised to redefine its trajectory.”

“Siyata is entering a transformative phase, and this development marks the culmination of months of strategic negotiations and execution. All shareholders are strongly encouraged to attend to appreciate the significant implications for 2025,” stated Marc Seelenfreund, Siyata’s CEO.

Motorola Solutions (NYSE:MSI) focuses on safety and security, providing cutting-edge technologies that help protect people, property, and places. Their solutions are designed to support public safety agencies and enterprises, facilitating the collaboration necessary for creating safer communities, schools, hospitals, and businesses. The company continues to innovate with the goal of ensuring a safer future for all.

Motorola is scheduled to release its fourth-quarter and full-year 2024 earnings results after the close of the market on Thursday, February 13, 2025. It will also host a quarterly conference call for financial analysts at 5 p.m. EST on the same day. The call will be webcast live on its investor relations website: www.motorolasolutions.com/investors.

Zebra Technologies (NASDAQ:ZBRA) provides businesses with the tools to enhance asset visibility, empower connected frontline workers, and drive intelligent automation. Operating in over 100 countries, Zebra serves over 80% of the Fortune 500, helping organizations optimize operations and deliver superior outcomes.

With over 50 years of innovation, Zebra offers an award-winning portfolio that includes hardware, software, and services, all designed specifically for the frontline workforce. Backed by a global partner ecosystem, Zebra’s solutions are trusted across industries to transform businesses and enable greater efficiency and productivity.

Iridium Communications (NASDAQ:IRDM) is the only mobile voice and data satellite communications network that covers the entire globe. Iridium enables real-time connections between people, organizations, and assets, anywhere, at any time. With a broad ecosystem of partner companies, Iridium offers a rich portfolio of reliable solutions for industries that require truly global communications.

In 2024, Iridium made a strategic acquisition of Satelles and announced the launch of the Iridium Satellite Time and Location service, expanding its capabilities in satellite-based solutions.

Iridium will host a conference call on Thursday, February 13, 2025, at 8:30 a.m. EST to discuss its fourth-quarter and full-year 2024 financial results.

Procore Technologies (NYSE:PCOR) creates software designed for those who build the world. With a focus on providing timely and accurate data, Procore is transforming the construction industry, helping to manage projects of all sizes, from hospitals and skyscrapers to airports and stadiums. The company’s solutions streamline project management, improve collaboration, and drive efficiency across every stage of construction.

Procore will report its fourth quarter and full fiscal year 2024 financial results after the markets close on February 13, 2025.

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