PUBLISHER: The Business Research Company | PRODUCT CODE: 1425649
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425649
Mission Critical Communication Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on mission critical communication market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for mission critical communication? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The mission critical communication market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Mission-critical communication stands as a vital component for delivering swift and dependable emergency responses during crises. This specialized form of communication ensures connectivity even in network-deprived situations, aiming to mitigate delays in critical communication. These systems are equipped with real-time capabilities, ensuring prompt and reliable communication channels during emergencies.
The fundamental pillars of mission-critical communication encompass hardware, services, and software. Hardware elements include command and control centers supporting diverse connection standards and devices, routers, and gateways for data analysis and forwarding, along with distribution management systems for effective system monitoring and management. Leveraging technologies like long-term evolution (LTE) and land mobile radio, these systems cater to a wide array of end-users spanning energy and utilities, public safety and government agencies, mining, transportation, and various other sectors.
The mission-critical communication market research report is one of a series of new reports from The Business Research Company that provides mission-critical communication market statistics, including mission-critical communication industry global market size, regional shares, competitors with a mission-critical communication market share, detailed mission-critical communication market segments, market trends and opportunities, and any further data you may need to thrive in the mission-critical communication industry. This mission-critical communication market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
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 witnessed during the historical period can be credited to an emphasis on interoperability, collaborative efforts across industries, strategic business continuity planning, initiatives driving smart city development, and an increased focus on data security.
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 anticipated growth in the upcoming period is expected to stem from factors such as natural calamities and disasters, the convergence of voice and data technologies, a rising need for interoperability, the ongoing trend of urbanization and smart city initiatives, and the adoption of cloud-based solutions. Noteworthy trends projected for this period encompass cross-sector collaboration, the integration of wearable tech, a heightened focus on resilience and redundancy, and the transition toward software-defined networks (SDN).
The escalation in cyber threats, reflected in a 17% surge in cyberattacks during Q1 2021 compared to Q1 2020 and a 1.2% rise from Q4 2020, is fostering the growth of mission-critical communication solutions. Notably, ID Agent reported a 17% increase in cyberattacks in 2021 compared to the total breaches in 2020, indicating the pressing need for robust cybersecurity measures in these solutions.
The proliferation of 5G technology is anticipated to drive the expansion of the mission-critical communication market. The critical role of such communication systems in ensuring reliable, low-latency connectivity for emergency responders and service providers during the global 5G connections' 76% surge from end-2021 to end-2022 highlights their significance in the transition and operation of 5G networks.
Technological advancements are a prominent trend in the mission-critical communication market. Noteworthy is the industry's shift towards AI and machine learning, exemplified by Commtel Network's launch of CN-SHIELD in October 2021. This platform utilizes advanced AI and ML to fortify mission-critical assets and communication networks amid the complexities of digital environments.
Key players in the mission-critical communication market are innovating to maintain market standing. Motorola Solutions' introduction of MXM7000 in June 2022, integrating TETRA and 4G LTE, underscores this trend. Its robust communication capabilities cater to public safety and military entities, ensuring connectivity and safety even in remote areas.
In April 2022, Ericsson bolstered its mission-critical push-to-talk solutions by acquiring Genaker, reinforcing its portfolio and client offerings in this domain. This strategic move aligns with Ericsson's commitment to enhancing end-to-end solutions for mission-critical communications.
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.
North America was the largest region in the mission-critical communication market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the mission critical communication market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the mission critical communication market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The mission-critical communications market consists of revenues earned by entities by providing services such as consultation, integration, maintenance, and support. The market value includes the value of related goods sold by the service provider or included within the service offering. The mission-critical communications market also includes sales of command and control centers, routers and gateways, and distribution management systems.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.