In today’s world, push-to-talk over cellular (PoC) devices are increasingly seen as an alternative to traditional land mobile radios (LMRs) or walkie-talkies. Although seen as a go-to device for emergency services, LMRs have limitations, including network incompatibility, limited coverage areas and restricted functionality.
What Is Push To Talk?
PoCs connect to the cellular infrastructure of mobile network operators like AT&T, T-Mobile and Verizon using a subscriber identity module (SIM) card like those installed in cell phones leveraging a highly reliable network that requires no maintenance or operational expenses on the part of users, thereby addressing most of the major shortcomings of the traditional LMR.
The global push-to-talk market is expected to grow from $29.2 billion in 2021 to $45.2 billion by 2026 representing a compound annual growth rate (CAGR) of 9.1%.
The rising cost of managing legacy LMR networks and devices, coupled with growing demand for PoC devices in various industry verticals for diversified applications are seen as the key contributors to this growth, driving up the adoption of push-to-talk hardware, solutions and services. Some of the industry examples are public safety & security, construction, energy & utility, transportation & logistics, manufacturing, government & defense, and travel & hospitality.
Siyata Mobile Inc. SYTA SYTAW, founded in 2014 and headquartered in Canada, says it is positioned as a leading global developer and provider of cellular communications solutions for first responders and enterprise customers in all the aforementioned verticals. It specializes in rugged handheld PoC devices, connected in-vehicle products and cellular booster products. Siyata operates in the U.S., Canada, Europe, Australia and the Middle East.
Siyata states its mission is to become a leading global vendor of PoC rugged handhelds, PoC in-vehicle devices and cellular boosters both in North America and other international markets. Its strategy is to partner with leading North American and international wireless carriers and key distributors to interface with new potential customers and expand its customer base.
North America is estimated to hold the highest market share of the push-to-talk (PTT) market in 2021 and leads the global market in terms of the use of push-to-talk hardware, solutions and services resulting from the rising adoption of push-to-talk solutions among the tens of millions of mission-critical personnel, first responders, public safety organizations, government and defense, healthcare and enterprise customers looking for next-generation PoC solutions.
Key players like Siyata are focused on product expansion to meet the rising demand for efficient and cost-effective push-to-talk solutions.
Siyata Boasts Of Two Next-Gen Products
Last year, Siyata launched two PoC devices: the SD7 rugged handset and its companion in-vehicle device the VK7. Siyata CEO Marc Seelenfreund told Benzinga that customer response to these next-generation products has been extremely strong, and the company has received a $1.8 million purchase order for a Tier 1 U.S. wireless operator for SD7, VK7 and various accessories.
According to the company, these compact, rugged and easy-to-operate handheld devices enable instant group voice and video communications over Wi-Fi and nationwide 4G/LTE (long-term evolution) cellular networks and can automatically switch over to the 4G/LTE network when out of Wi-Fi range.
Major hardware vendors in the global PTT market include Kyocera Corporation 6971, Sonim Technologies, Inc. SONM, Apple Inc. AAPL and Samsung Electronics Co. Inc. (KSE: 0059303).
Siyata says it believes it is positioned for success through competitive strengths:
- Market-focused products that are specifically designed to disrupt the multibillion-dollar LMR industry
- Highly innovative technology and unique product portfolio
- Strong partnerships and device approvals with leading North American and international wireless carriers to drive sales
Siyata recently estimated that its various channels could deliver potential SD7 volumes of 30,000 to 100,000 units per year plus accessories once fully ramped up into production. This, according to the company, would translate into potentially $10 million to $30 million in annual revenue from the SD7 category alone beginning in mid-2022.
Siyata closed a $20 million underwritten public offering at the beginning of 2022.
Seelenfreund says the company hopes to deliver many more positive catalysts going forward — new customer wins, significant carrier launches, new partnerships, a continuous upgrade to its product portfolio, and ultimately strong organic growth with a drive to profitability in the coming quarters.
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