Critical Communication Market Trends, Revenue Analysis And Forecast Report By 2033

The new report published by The Business Research Company, titled Critical Communication Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the critical communication market size has grown rapidly in recent years. It will grow from $18.91 billion in 2023 to $21.38 billion in 2024 at a compound annual growth rate (CAGR) of 13.1%. The critical communication market size is expected to see rapid growth in the next few years. It will grow to $35.08 billion in 2028 at a compound annual growth rate (CAGR) of 13.2%.

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Rise In Public Safety Concerns Propel Critical Communication Market
The rise in public safety concerns is expected to propel the growth of the critical communication market going forward. Public safety concerns encompass potential risks or threats to the well-being and security of the general populace within a community or society. Public safety concerns arise from various sources, including natural disasters, criminal activities, infrastructure failures, or public health crises. Public safety creates a need for emergency services, such as critical communication to ensure effective coordination among first responders, rapid response to emergencies, and timely dissemination of critical information to the public. For instance, in March 2022, according to a report published by the Institute for Economics and Peace, an Australia-based non-profit organization, global terrorist attacks reached 5,200 incidents in 2021. Myanmar saw the most significant uptick in terrorism, resulting in 521 deaths, marking a twentyfold increase and a 17% rise compared to 2020. Therefore, the rise in public safety concerns is driving the growth of the critical communication market.

Advancements In Ultra-Reliable Low Latency Communication (URLLC) In Critical Applications
Major companies operating in the critical communication market are focusing on technological advancements, such as ultra-reliable low-latency communication (URLLC), to enhance real-time data transmission reliability and reduce latency for mission-critical applications. Ultra-Reliable Low Latency Communication (URLLC) refers to a communication standard that ensures exceptionally reliable and low-latency transmission of data, critical for applications such as autonomous vehicles and industrial automation. For instance, in October 2021, Ericsson, a Sweden-based multinational networking and telecommunications company, launched time-critical communication, a software toolbox designed to guarantee consistent low latency and high reliability for time-critical applications and services on 5G networks. This solution combines the 3GPP-specified ultra-reliable, low-latency communication (URLLC) standard with Ericsson innovations to mitigate major causes of latency. The solution is designed to benefit consumers, enterprises, and the public sector, where time-critical applications and services depend on reliable, low-latency connectivity.

The critical communication market covered in this report is segmented -

1) By Offering: Hardware, Services
2) By Technology: Land Mobile Radio (LMR), Long-Term Evolution (LTE)
3) By Enterprise Type: Small And Medium Enterprises, Large Enterprises
4) By Vertical: Public Safety, Transportation, Utilities, Mining, Police And Security Department, Emergency Healthcare Services, Government Agencies, Airports, Marine, Other Verticals

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Major companies operating in the critical communication market are Samsung Group, Verizon Communications Inc., AT&T Inc., Huawei Technologies Co. Ltd., T-Mobile US Inc., Airbus SE, Ericsson Inc., Nokia Corporation, NEC Corporation, Thales Group, Leonardo S.p.A., Motorola Solutions, Bosch Security Systems, Harris Corporation, Hytera Communications, Iridium Communications Inc., Tait Communications, Sepura Ltd., Zetron Inc., Simoco Wireless Solutions, DAMM Cellular Systems A/S, PowerTrunk Inc., Kenwood Corporation

Contents of the report:
1. Executive Summary
2. Critical Communication Market Report Structure
3. Critical Communication Market Trends And Strategies
4. Critical Communication Market - Macro Economic Scenario
5. Critical Communication Market Size And Growth
…..
27. Critical Communication Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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