Northbrook, IL -- (SBWIRE) -- 09/12/2019 -- According to the new market research report "Critical Communication Market by Offering (Hardware, Services), Technology (Land Mobile Radio, Long-Term Evolution), End-Use Vertical (Public Safety, Transportation, Utilities, Mining), and Region (North America, Europe, APAC, RoW)-Global Forecast to 2024", published by MarketsandMarkets™, the Critical Communication Market is expected to grow from USD 13.9 billion in 2019 to USD 19.8 billion by 2024, at a CAGR of 7.4%.
High demand for critical communication solutions from diverse industries such as public safety, transportation & medical, advanced features of critical communication network, and increasing need to modernize old equipment are the major driving factors for the market's growth during the forecast period. Need for reliable and high-quality public safety communication systems and standardization of infrastructure platforms is expected to offer tremendous growth opportunities in the near future.
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"Public safety to dominate critical communication market (in terms of share) during the forecast period."
The public safety vertical is a major adopter of critical communication systems. Public safety is one of the most important responsibilities of any government; it involves protecting individuals from crimes and natural disasters. An effective public safety mechanism involves disaster management and coordination between organizations such as law enforcement and border control, firefighters, emergency medical services. Effective communication is imperative for these organizations while dealing with any natural or man-made disaster. Various agencies provide emergency and rescue services and ensuring public safety. The purpose of these agencies is to deal with typical emergencies and ad hoc emergencies as a part of their typical responsibilities. Spreading community awareness, running prevention programs to detect, mitigate, and report emergencies effectively are the major functions of these emergency solution providers. These service providers use critical communications systems during any emergency, such as natural and man-made disasters.
"Critical communication market for LTE technology to grow at the highest CAGR from 2019 to 2024."
LTE is the next global standard for critical communications, according to several industry representatives, consultants, and end-users. Factors such as the adoption of LTE by FirstNet by public safety organizations in the US, the inclination of the UK Home Office toward LTE, and plans of South Korea to build a nationwide LTE network for public safety are driving the development of LTE for critical communications. The requirements of public safety communications are rapidly changing, involving the adoption of broadband-based multimedia applications, remote surveillance, and robotic technologies such as unmanned aerial vehicles (UAVs). As a result, public safety agencies are replacing their narrowband public safety networks with LTE-based networks.
"Service offerings to grow at higher CAGR in critical communication market during the forecast period."
Services play a crucial role in the growth of the critical communication market. Integration services comprise network-related services that include planning, design, installation, and implementation of networks. Increasing instances of threats and cyberattacks and the emergence of sophisticated attacks are forcing several organizations and government organizations to upgrade their communications systems consistently. In addition, new networks also pose significant challenges for governments regarding management and operations.
Browse in-depth TOC on "Critical Communication Market"
62 – Tables
43 – Figures
147 – Pages
The global market for maintenance services is highly fragmented and comprises players from diverse backgrounds, ranging from specialized managed security services (MSS) providers to telecommunication companies, system integrators, and value-added resellers. Providers of consulting services are responsible for identifying and mitigating risks effectively and efficiently. As a result, the service offerings expected to grow with higher CAGR during the forecast period.
"APAC to grow at the highest CAGR in critical communication market during the forecast period."
APAC 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. To combat the ever-growing incidents of terrorism and natural disasters, countries in APAC are increasing their spending on the adoption of security solutions. In recent years, APAC has witnessed tremendous economic growth, political transformation, and social change. Organizations in APAC are expected to invest heavily in deploying critical communication systems to deal with terrorist breaches and natural disasters, as well as in verticals such as transportation, public safety, mining, and utilities to ensure safety and security. Moreover, Various ongoing projects, such as metro and railway communication projects, in India, China, and South Korea, are contributing to the growth of the market in APAC.
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Key players in the market include Motorola Solutions (US), Ericsson (Sweden), Nokia (Finland), Huawei (China), AT&T (US), Hariss (US), ZTE (China), Cobham Wireless (UK), Inmarsat (UK), Hytera (China), JVCKENWOOD Corporation (Japan), Mentura Group (Finland), Tait Communications (New Zealand), Telestra (Australia), Ascom (Switzerland), Zenitel (Belgium), Leonardo (Italy), Secure Land Communications (France), and Simoco Wireless Solutions (UK).
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