Industrial Radio Market - Forecast(2021 - 2026)
The global Industrial Radio Market is estimated to surpass $14 billion mark by 2023 growing at an estimated rate of more than 8% during 2018 to 2023. In 2017, end user segments such as oil and gas, chemical industry and other hazard prone industries collectively accounted for around 30% share of the global industrial radio market owing to stringent labor safety regulations in such locations. North America is anticipated to dominate the market with a market share of approximately 35%. The increasing number of safety concerns in these industries along with the need to increase the efficiency and manage work order and decrease the downtime is driving the market in this region. APAC region would be the fastest growing market for Industrial radios registering a CAGR of 11% during 2018-2023. What is Industrial Radio? The industrial radio is a two way wireless communication device. The device is also called as a handheld transceiver (HT) or a walkie-talkie. The system operates as half duple