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Critical Communication Market by Offering, Network Technology, End-Use Vertical, and Geography - Global Forecast to 2023
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
Critical communication market expected to grow at a CAGR of 8.1% between 2017 and 2023
The critical communication market is expected 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.
Critical communication market for transportation vertical to grow at the highest rate between 2017 and 2023
The critical communication market has been segmented on the basis of end-use vertical into public safety, transportation, utilities, mining, and others. The critical communication market for the transportation vertical is expected to grow at the highest rate between 2017 and 2023. Transportation is a major application area for critical communication solutions. This segment comprises buses, trains, trams, metros, and railways, among others. Communication plays an important role in a transportation system; in airways, it is used for communicating critical information and system changes that take place to help maintain aircraft safety. Similarly, it is used in road transport for maintaining coordination and safety. TETRA-based critical communication network is widely deployed in this vertical because of its advanced features and the benefits it offers.
Critical communication market for services to grow at a higher rate between 2017 and 2023
The critical communication market, on the basis of service, has been segmented into: consulting, integration, maintenance, and others include training & education. The market for services is expected to grow at a higher rate between 2017 and 2023. The growth of the market for maintenance services can be attributed to the increasing demand from the ongoing deployment of critical communication networks worldwide.
Critical communication market in APAC to grow at the highest rate between 2017 and 2023
The critical communication market in APAC is expected to grow at the highest rate between 2017 and 2023 owing to the new developments in technological fields, increasing infrastructural developments, and ongoing smart-city projects in the region. Moreover, 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 the process of determining and verifying the market size for several segments and subsegments gathered through secondary research, extensive primary interviews have been conducted with people holding key positions across several regions. The breakup of the profiles of primary participants has been given below:
• By Company Type: Tier 1—20%, Tier 2—40%, and Tier 3—40%
• By Designation: C-Level Executives—40%, Managers—60%
• By Region: North America—40%, Europe—20%, APAC—25%, and RoW—15%
Some of the major players operating in the critical communication market are 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).
The report defines, describes, and forecasts the critical communication market based on network technology, offering, end-use vertical, and geography. It provides detailed information regarding the major factors (drivers, restraints, opportunities, and industry-specific challenges) influencing the growth of the critical communication market. It also analyzes the competitive developments such as joint ventures, collaborations, agreements, contracts, partnerships, mergers & acquisitions, and product launches & developments carried out by the key players to grow in the market.
Reasons to Buy the Report:
• Illustrative segmentation, analysis, and forecast pertaining to the critical communication market based on network technology, offering, end-use vertical, and geography have been conducted to provide an overall view of the critical communication market.
• Major drivers, restraints, opportunities, and challenges affecting the critical communication market growth have been detailed in this report.
• A detailed competitive landscape of the key players in the market, along with their revenues, has been included.