The critical communication market was valued at USD 11.76 Billion in 2016 and is expected to reach USD 20.12 Billion by 2023, at a CAGR of 8.1% during the forecast period. The base year considered for the study is 2016, and the forecast period is between 2017 and 2023. This report provides a detailed analysis of the critical communication market based on network technology, offering, end-use vertical, and region.
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The report "Critical Communication Market by Offering (Hardware, Software), Network Technology (Land Mobile Radio and Long-Term Evolution), End-Use Vertical (Public Safety, Transportation, Utilities, Mining), and Geography - Global Forecast to 2023", The critical communication market is likely to grow from USD 12.61 Billion in 2017 to USD 20.12 Billion by 2023, at a CAGR of 8.1% between 2017 and 2023. The key factors contributing to the growth of this market include the growing data traffic leading to the requirement of high bandwidth to support the increasing user base across mission-critical applications, such as public safety, transportation, utilities, mining, and others.
In addition, the need for modernization and replacement of old equipment with new equipment is creating huge growth opportunities for the market.
Browse 77 Market Data Tables and 46 Figures spread through 141 Pages and in-depth TOC on "Critical Communication Market - Global Forecast to 2023"
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Land mobile radios (LMRs) to hold a major share of the critical communication market, by network technology, in 2017
The larger market size of land mobile radios (LMRs) can be attributed to their extensive use to ensure public safety. LMR systems are widely used by first responders such as police, ambulances, and fire services.
Commercial LMRs are available in 2 frequencies very high frequency (VHF) 150−172 MHz and ultrahigh frequency (UHF) 450−470 MHz. LMRs can be further classified into terrestrial trunked radios (TETRAs)/P25 (Project 25) and analog.
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Hardware to hold a larger share of the critical communication market, by offering, by 2023
Hardware forms the backbone of a critical communication network system. Some of the vital components forming a critical communication system are command and control, infrastructure equipment, and handheld devices.
Hardware is expected to hold a larger share of the critical communication market, by offering, because of the rising demand from the ongoing as well as new deployment of critical communication networks in North America and Europe.
Critical communication market in APAC to grow at the highest rate between 2017 and 2023
In the recent years, APAC has undergone tremendous economic growth, political transformation, and social change. Organizations in APAC are expected to invest heavily in critical communication to deal with terrorist breaches and natural disasters, and for use in applications such as transportation.
In addition, this region is witnessing a surge in the smart city projects; which is creating a demand for critical communication technologies, such as surveillance technology, scanning, and critical communication networks.
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Motorola (US), Ascom (Switzerland), Ericsson (Sweden), Nokia (Finland), ZTE (China), Huawei (China), AT&T (US), Harris (US), Hytera (China), Cobham Wireless (UK), Leonardo (Italy), Mentura Group (Finland), Inmarsat (UK), Zenitel (Belgium), and Telstra (Australia) are some of the major players operating in the critical communication market.
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