Mission Critical Communication Market could be worth US$ 27,876.68 Million by 2028, Says The Insight Partners

According to our latest market study on "Mission Critical Communication Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Technology, and Vertical," the market is expected to grow from US$ 17,031.56 million in 2022 to US$ 27,876.68 million by 2028; it is estimated to grow at a CAGR of 8.6% from 2022 to 2028.

Mission Critical Communication Market study by "The Insight Partners" provides details about the market dynamics affecting the market, Market scope, Market segmentation and overlays shadow upon the leading market players highlighting the favourable competitive landscape and trends prevailing over the years.

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The mission critical communication market size has been segmented on the basis of component, technology, vertical, and geography. Based on component, the mission critical communication market size is segmented into hardware, software, and services. Based on technology, the market analysis is bifurcated into LTE and land mobile radio. Based on vertical, the market analysis is categorized into public safety and government agencies, transportation, energy and utilities, mining, and others. Based on geography, the market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America.

The report on the Mission Critical Communication market includes information on the strategic collaborations. The study also mentions the key players across the Mission Critical Communication market. Here are some prominent participants involved in the Mission Critical Communication Market - Major Players: Telefonaktiebolaget LM Ericsson; Thales Group; Motorola Solutions; L3Harris Technologies, Inc.; and Hytera Communications Corporation Ltd.

Europe held the largest mission critical communication market share in 2021. The well-established communication sectors, continuous technological advancements, and growing digital Land Mobile Radio (LMR) products' adoption by the public and private sectors are the factors generating a huge demand for mission critical communication systems in Europe. Governments in European countries facilitate the most effective application of LMR technology and establish uninterrupted communication during emergencies.

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Germany is a significant mining nation in Europe, and hard coal and lignite are among the most mined resources in the country, along with smaller amounts of natural gas and crude oil. Potash and rock salts, iron and manganese ores, fluorite, barite, feldspar, kaolin, limestone, dolomite, gypsum, slate, quartz, quartzite, basalt, and tuff are among the minerals whose extraction is economically significant in Germany. Elevated investments in mining are expected to boost the growth of the mission critical communication market in the region. Further, over the years, Germany is concentrating on the generation of its power from renewable resources for reducing its carbon footprint. The government allocated US$ 19.44 billion for the construction of public safety infrastructure across the country in 2021. The projected rise in renewable power generation plants is expected to bolster the need for mission critical communication solutions in the country during the forecast period.

The COVID-19 pandemic severely impacted European mission critical communication market in 2020, as huge financial losses forced end users to postpone installation plans of mission critical communication systems. The pandemic caused a brief halt in operations at key market-critical communication hardware manufacturing locations. As a result, several major component suppliers and technology providers moved their focus to reducing costs and scaling down manufacturing. However, in February 2021, Cubic Corporation announced collaboration of the Cubic Mission and Performance Solutions (CMPS) business division with Alea, a company specializing in mission-critical communications software, for developing public safety and tactical broadband solutions.

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The Insight Partners is a one-stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Healthcare, Manufacturing and Construction, Media and Technology, Chemicals, and Materials.

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