Mission Critical Communication Market trends, Top Companies, Share, Growth And Forecast 2033

The Business Research Company has updated its global market reports, featuring the latest data for 2024 and projections up to 2033

The Business Research Company presents an extensive market research report on the Mission Critical Communication Global Market Report 2024, furnishing businesses with a competitive edge through a detailed examination of the market structure, encompassing estimates for various segments and sub-segments.

Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the industry. This report market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.

Market Sizing:

The mission critical communication market size has grown strongly in recent years. It will grow from $18.02 billion in 2023 to $19.82 billion in 2024 at a compound annual growth rate (CAGR) of 10.0%. The growth in the historic period can be attributed to focus on interoperability, cross-industry collaboration, business continuity planning, smart city initiatives, data security emphasis..

The mission critical communication market size is expected to see strong growth in the next few years. It will grow to $28.55 billion in 2028 at a compound annual growth rate (CAGR) of 9.6%. The growth in the forecast period can be attributed to natural calamities and disasters, integration of voice and data, increasing demand for interoperability, urbanization and smart cities, adoption of cloud-based solutions.. Major trends in the forecast period include cross-sector integration, integration of wearable devices, focus on resilience and redundancy, migration to software-defined networks (sdn)..

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Key Market Players:

Major companies operating in the mission critical communication market report are Motorola Solutions Inc., Nokia Corporation, ZTE Corporation, Telefonaktiebolaget LM Ericsson, Huawei Technologies Co. Ltd., AT&T Inc., Harris Corporation, Hytera Communications Corporation Limited, Cobham Limited, Ascom Holding AG, Mentura Group Oy, Leonardo SpA, Inmarsat plc, Zenitel Group, Thales Group, Airbus SAS, CSE Crosscom Pty. Ltd., DAMM Cellular Systems A/S, Datron World Communications Inc., EF Johnson Technologies Inc., General Dynamics Mission Systems, Iridium Communications Inc., JVCKennwood Corporation, RTX Corporation, Simoco Wireless Solutions, Tait Communications, TETRA Critical Communications Association, Zetron Inc., McWane Inc.

Market Drivers:

The rise in security threats with the increasing cyberattack cases is expected to propel the growth of the mission-critical communication market going forward. Cyber-attacks are attempts to gain unauthorized access to computers, computing systems, and computer networks. The mission-critical communications solutions provide real-time cybersecurity features with cybersecurity compliance against cyber-attack. These systems also have high data security. For instance, according to the cybersecurity threat landscape report by Positive Technologies, a Russia-based cybersecurity company, the number of cyberattacks increased by 17% in Q1 2021 as compared to Q1 2020, and it increased by 1.2% as compared to Q4 2020. Additionally, according to ID Agent, a US-based company engaged in digital risk protection and cybersecurity solutions, the total cyberattacks recorded in 2021 have already surpassed the total number of events recorded in Full-Year (FY) 2020 by 17%, with 1.2K cyberattacks recorded in 2021 compared to 1.1K breaches in 2020. Thus, the rise in security threats with the increasing cyberattack cases is driving the growth of the mission-critical communication market.

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The mission critical communication market covered in this report is segmented -

1) By Product Type: Hardware, Services, Software
2) By Technology: Long-term evolution (LTE) , Land mobile radio
3) By End Users: Energy and Utilities, Public Safety and Government Agencies, Mining, Transportation, Other End Users

The report answers the following questions:
What are the primary factors propelling the market during the projected period?

In which region is the most substantial growth expected?

Which trend will take center stage in the upcoming period?

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