Stingray Device Market Share

  • Report ID: 5749
  • Published Date: Feb 28, 2024
  • Report Format: PDF, PPT

Stingray Device Market Share

North American Market Forecast

The North America stingray device market is set to capture the highest revenue share of over 35% over the forecast period. The major factor influencing the stingray device market growth in this region is growing investment in military & defense. Over 876 billion dollars went toward the military in 2022, placing the United States at the top of the list of nations with the highest military spending. This accounted for around 39% of the approximately 3 trillion U.S. dollars spent on military expenditures globally that year. Additionally, the stingray device market in this region is seeing a rise in the need for lightweight, portable stingray devices. This is explained by the requirement for swift deployment in an emergency and portability when conducting surveillance missions. Additionally, the deployment of the internet of things (IoT) is also growing in this region which is also estimated to enhance the efficiency of stingray devices. 

APAC Market Analysis

The stingray device market in Asia Pacific is also projected to have significant growth during the forecast period. The Asia Pacific region's need for stingray equipment is being driven by the growing need for improved surveillance and law enforcement technologies. Given the array of security challenges the region faces, including hacks and organized crime, law enforcement agencies and authorities are attempting to enhance their capacity to monitor and record mobile communications. Furthermore, this region also has a presence of various key players who are focused on advancing the features of this device which is further projected to influence the stingray device market growth.  

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Author Credits:  Abhishek Verma


  • Report ID: 5749
  • Published Date: Feb 28, 2024
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

The major factors driving the growth of the market are growing adoption of smartphones, surge in cyber threat, and surge in integration of AI.

The market size of stingray device is anticipated to attain a CAGR of 16% over the forecast period, i.e., 2024 - 2036.

The major players in the market are L3Harris Technologies, Inc., Rohde & Schwarz, ESD America, Digital Receiver Technology (DRT), and others.

The military & defense segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
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