Critical Communication Market Size to Boost US$27.20 billion by 2026 | CAGR 8.32% – IndustryARC
Rise in security concerns of various industries and fast-growing technology in communication sector drive its critical communication market growth.
HYDERABAD, TELANGANA, INDIA, September 2, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that the critical communication market forecast to reach $27.20 billion by 2026, growing at a CAGR of 8.32% from 2021 to 2026. The Critical Communication Market is estimated to witness a sustainable growth over the forecast period majorly because of its applications in governmental organizations and transportation sector. Lack of transparency between Public Safety Agencies (PSAs) and private narrow band radio network systems providers brings major challenge for the Critical Communication Market growth. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
Key Takeaways:
This IndustryARC report on the critical communication market highlights the following areas –
1. The Critical Communication Market is estimated to witness a sustainable growth over the forecast period because human life and other services for society are at risk and where fast and reliable communications between first responders and the receivers is essential.
2. Ongoing demands of next-level communication flexibility, vast coverage, high capacity, high security, high data rate and low latency communications between first responders and the receiver tends to promote technological advancements which uplifts market growth.
3. Rising security concerns in various organizations especially in blue-light agencies such as police, ambulance, fire brigades where the communication with the responder is most important tends to drive its market growth in many Governmental Organizations and Industrial sites.
4. The capabilities of LTE networks are not only bound within the critical communication of systems on respective solutions, but to enrich them by allowing users to exchange multimedia content in addition to voice and enjoy access to mobile broadband. These features promote the adoption of LTE technology and thus enhances the market growth.
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Segmental Analysis:
1. Long-term Evolution (LTE) has dominated the Critical Communication Market as compared to the other Network technologies. LTE network provides more efficient and faster way of communication as compared to other network technologies.
2. Security, comprising of both public security organizations and Industrial security organizations holds the largest market in Critical Communication Market by end use. Rise is Governmental initiatives is one of the major reason for adoption of Critical communication for public safety at Governmental Organizations and Industrial Sites.
3. North America accounts for the highest market among other regions by geography. The market growth in this region is predominantly rising due to economies such as United States, Canada and Mexico. Ongoing developments in technologies to increase communication flexibility, vast coverage, high capacity, high security, high data rate and low latency communications uplifts the market growth in this region.
Competitive Landscape:
The top 5 players in the critical communication industry are –
1. Ascom
2. Cobham Wireless
3. Ericsson
4. Harris
5. Huawei
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