Owing to rise in demand for group communication systems, growth in penetration of wireless devices and smartphones, need for driver safety, advancement in technology there has been a significant growth in Push to Talk (PTT) Software Market.
COVID-19 Impact on Push to Talk (PTT) Software Market
No industry, no sector, no market has escaped the negative impact the COVID-19 pandemic had on their growth, revenue and many other things. Similarly, in the initial days COVID-19 Pandemic impacted this market adversely. As offices shifted to work from home culture it was difficult for them to set up and provide wi-fis of suitable bandwidth to every employee in order to use Push to Talk (PTT) Software which hampered work in many offices. But this market showed recovery signs when the economies have started re-opening and increase in investments too.
Public Safety End-Use Segment Expected to Expand Significantly
It is projected that it will see a rise in revenue share. Public Safety industry was one of the first industries to adopt and implement the Push to Talk (PTT) Software in their operations. Therefore the segment is likely to hold its dominance as the fastest-growing end-user segment in the coming years as well. Transportation and logistics stand second in terms of the expected highest revenue.
By Component, Solution segment is expected to grow at a significant rate
Based on components, the market is segregated into several segments comprising services, software, and hardware. In the projected forecast timeline, the solution segment is anticipated to incur the highest profits.
Land Mobile Network Type to Remain Growth Proficient
Land mobile radio system to expected to dominate the market share even though some are shifting from it . It is the traditional network type in this market and is expected to grow at a significant rate.
By organization size, Large Enterprises are expected to dominate the market share
Based on the size of the organization the global push to talk (PTT) software market is broadly classified into small and medium-sized (SME) organizations besides large organizations. Howevre, the large organization segment is foreseen to sustain the highest revenue returns through the forecast period. The usage of Push to Talk (PTT) Software requires funds and usually SMSEs are not able to afford it. Large enterprises are heavily investing in this software for better working.
Push to Talk (PTT) software enables instant communication over wireless devices by just pushing a button. The button helps to switch on the microphone so that the other person can hear and when released the microphones switches off. It enables users to speak at their own convenience that is it is in their control. The communication is one way that is one to one or one to many people who receive it at the other end.
Numerous factors are driving Push to Talk (PTT) Software Market’s growth. There has been an increase in the users of wireless devices, increasing need for driver safety as commercial drivers use Push to Talk (PTT) Software while driving to take their bookings, calls doing at a press of a button.
The push to talk software is evolving especially to serve professional’s needs as technology advances which will ultimately lead to growth in this market. The advent of 5G technology and infrastructure will act as a booster to the market. The global push to talk software market is expected to grow at a decent momentum between 2021-2028 at a CAGR of 12 % reaching a market value of over USD 48 billion.
During COVID-19 Pandemic as the medium to work shifted online there has been a rise in demand for instant communication for effective and smooth operations which has boosted the demand for Push to Talk (PTT) software. Push to talk (PTT) software has eased the way group communicates. It helps in communicating with a large number of team at once and helps avoid any confusion among the team members.
Recently, due to high cost of deployment of Land Mobile Radio Systems there has been a substantial shift to LTE networks in mobile communication. It supports projects that require a high bandwidth.
Although there are various advantages in this market but a few obstacles obstruct its path to further growth. There is high cost associated with setting up of Land Mobile Radio. Also, there has been delay in 5G infrastructure allocation to this market. The adoption of 5G can bring significant changes in the market but delays hamper its growth. There have been debates and issues going across countries regarding 5G issue.
The key players in the Push to Talk (PTT) Software Market are Zello Inc., Motorola Solutions, Reach PTT, Verizon Wireless, Peak PTT , Zebra Technologies Corporation, Qualcomm Inc. Orion, Sprint, Streamwide , Group Talk, ServiceMax, VoxerNet LLC, TeamConnect and others. The competition is intense in this market and players are adopting multiple strategies to stand out and attract a large customer base. There are great and profitable opportunities for market players as the technology evolves and advances and helps in creating better improvised software.
Latest Innovations: Global Push-to-Talk Market
- In March 2021, Siyata Mobile Inc. which is best known for its push-to-talk offerings for mission-critical communications announced further improvements for its push-to-talk solutions with BEEHD technology integration. This will be used in a new push-to-talk mobile handset, Siyata.
Push to Talk Software Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 48 billion|
|Growth Rate||CAGR of 12 % during 2021-2028|
|Segment Covered||End-User, Component, Network Type, Organisation, Regions|
|Regions Covered||North America, Europe, Asia Pacific, Middle East and Africa, South America|
|Key Players Profiled||Zello Inc., Motorola Solutions, Reach PTT, Verizon Wireless, Peak PTT , Zebra Technologies Corporation, Qualcomm Inc. Orion, Sprint, Streamwide , Group Talk, ServiceMax, VoxerNet LLC, TeamConnect and others.|
Key Segments of the Push to Talk (PTT) Software Market
- Travel and Hospitality
- Transportation and Logistics
- Energy and Utilities
- Public Safety
By Network Type
- Land Mobile Radio
By Organisation Size
- Small and medium sized enterprises
- Large Enterprises