Other markets that are expected to record CAGRs of more than five per cent over the same period include transport and utilities, while the public safety market is expected to grow its TETRA installed base by more than four per cent in the 12 months to December 2020.
Breaking it down by regions, IHS Markit expects North America to lead with an almost 15 per cent CAGR in the installed base of active radios over the 2018-2023 period, with Latin America showing almost six per cent CAGR in the same timescale, and Asia heading towards five per cent. Growth in Europe is predicted to be less but still on the upward curve, taking into account the expected delivery of both hybrid and broadband terminals in the coming years, while the Middle East and Africa will maintain the steady growth the region has seen since 2015.
The dual mode TETRA/LTE terminal install base is forecast to grow at a CAGR of more than 100 per cent over 2018-to 2023, but less than 100,000 terminals are expected in total over the next three years.
“Secure mission-critical voice communications coupled with push-to-talk capabilities through multiple mediums including smartphones, tablets and desktop computers have become the need of the hour for effective public safety and emergency services,” said Ramya Balakrishnan, senior research analyst, IHS Markit Technology. “Having said that, TETRA has definitely become one of the most dominant technologies in the public safety domain, with massive refreshes emerging in mature markets.”
Tony Gray, TCCA chief executive, said it was “particularly interesting to see the predicted growth in North America, where TETRA has only been present for the last few years – this success is testament to the foresight of the companies who have taken the initiative in the US and Canadian markets”.
