According to our latest study on "General Mobile Radio Service (GMRS) Radios Market Forecast to 2030 - COVID-19 Impact and Global Analysis - by Type and Application" the market is projected to grow from US$ 131.00 million in 2022 to US$ 162.88 million by 2030; it is estimated to record a CAGR of 2.9% from 2023 to 2030.
Increase in Off-road and Recreational Activities Boosting General Mobile Radio Service (GMRS) Radios Market Growth
There has been a rise in off-road and recreational activities among travelers worldwide. In April 2022, the Kampgrounds of America, Inc. (KOA), an American franchise of privately owned campgrounds, observed tremendous growth in new campers in the US and Canada. According to the survey conducted by the company, 40% of leisure trips resulted in camping, and ~80% of all leisure travelers choose camping or glamping for at least some of their trips. Approximately 57 million households stated that they went on at least one camping trip last year, an 18% increase in 2021 compared to 2020. The travelers also experienced that camping and outdoor activities reduce stress and improve their emotional well-being. In addition, various off-road racing events are being conducted across the globe.
Off-road racing includes trucks, buggies, motorbikes, cars, and other modified vehicles. These off-road racing events are rising due to the growing interest of enthusiasts in adventurous sports that allow them to showcase their skills and vehicles