Terrestrial Trunked Radio Market Size

Terrestrial Trunked Radio Market size is estimated to cross USD 29 Billion by the end of 2036, growing at a CAGR of 12% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of terrestrial trunked radio was USD 9 Billion. The sector growth is poised to be dominated by its growing use in transportation such as railway. Radio communication networks are essential for train operations, which have strict criteria for security, safety, availability, and dependability. Hence, further with the growth in the number of passengers traveling by train the market is estimated to grow. Over 84 million people are projected to be traveling by train between 2019 to 2028, globally. Also, this number is set to rise to close to 2 billion by the end of 2028.

The increasing need for public safety and secure communication due to technological improvements is pushing radio manufacturers to incorporate apps into their products. GIS, fingerprint scanning, integrated call attendance, call recording, alerts, events & call priority management in emergency scenarios are some of the capabilities provided by these programs. It is projected that the addition of these applications will accelerate market expansion.