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Mission Critical Communication Market is expected to reach US$ 27,876.68 Million by 2028

02-13-2023 03:22 PM CET | IT, New Media & Software

Press release from: The Insight Partners

Mission Critical Communication Market

Mission Critical Communication Market

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.

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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 List of Companies - Mission Critical Communication Market:

Ascom
Hytera Communication Corporation Limited
Huawei Technologies Co. Ltd.
L3Harris Technologies, Inc.
Motorola Solutions, Inc.
Mentura Group OY
Nokia Corporation
Telefonaktiebolaget LM Ericsson
Tassta GmbH
Zenitel

The UK is anticipated to register the fastest CAGR in the mission critical communication market in Europe from 2022 to 2028. With the growing penetration rate of 5G technology, mission critical communication has gained massive traction over the last few years in the UK. For instance, in 2020, National Health Service (NHS) and Ericsson collaborated to deploy 5G connected ambulance for connecting patient, remote medical experts, and ambulance workers. Also, in August 2021, the NHS deployed body-worn video camera for ambulance staff to improve the transparency and safety of citizens and frontline workers across the country. According to the report published by SIPRI, the UK has experienced a 14.5% rise in defense and military spending in 2021 compared to 2020, which signifies notable opportunities for mission critical communication system providers. The UK focuses on developing an advanced mission critical network for their public safety agencies. Strategic initiatives such as mergers and acquisitions by companies in the country are further expected to propel the growth of the mission critical communication market. For instance, in March 2022, Cobham announced its strategic partnership with Hypha to enhance its mission critical communication solutions over the years. Further, Inmarsat introduced the Inmarsat ELERA, a worldwide narrowband network that is perfect for the rapidly developing Internet of Things (IoT) and global mobility customers-including aviation, maritime, governments, and select corporations-in August 2021.Such developments will positively assist in the growth of mission critical communication market growth.

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.

Impact of COVID-19 Pandemic on Mission Critical Communication Market

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. Their solutions will rely on the Mission-Critical Push-To-Talk (MCPTT) requirements from the Third Generation Partnership Project (3GPP) standardization organization for mission-critical communications over LTE. Such initiatives and development steps would favor the mission critical communication market growth in the coming years.

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Contact Us:
The Insight Partners
Email: sales@theinsightpartners.com
Phone: +1-646-491-9876

About Us:
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, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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