DUBLIN, November 20, 2017 /PRNewswire/ --
The "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" report has been added to Research and Markets' offering.
The critical communication market is expected to be valued at USD 20.12 Billion by 2023, growing at a CAGR of 8.1% between 2017 and 2023.
The growth of this market can be attributed to the increasing need for modernization and replacement of old equipment with new equipment, growing application of critical communication in diverse industries, and advance features of critical communication.
The critical communication market, based on network technology, has been segmented into long-term evolution (LTE) and land mobile radios. LMRs accounted for a larger share of the critical communication market, by network technology, in 2016. The larger market size of land mobile radios (LMRs) can be attributed to their extensive use to ensure public safety.
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 owing to the rising need for critical communication solutions at airports in developing countries such as China and India. Moreover, the increasing need for the upgrading of conventional analog networks to digital networks (LTE and TETRA) is contributing to the growth of the market for the transportation vertical.
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 addition, various ongoing projects in India, China, and South Korea, such as metro and railway communication projects, are boosting the growth of the critical communication market in this region.
Factors such as limited spectrum bandwidth and multiple standards in devices and systems are restraining the growth of the critical communication market. Multiple communication standards, such as 2G, 3G, P25, LMR, DMR, and 4G LTE, increase the complexity within the network and require considerable hardware deployment, thereby increasing the cost. In case of various handheld devices with software-defined radios, multiple connections pose serious problems related to hardware requirement, which, in turn, increases the weight and size of the devices.
Some of the major players in the critical communication market include Motorola (US), Ascom (Switzerland), Hytera (China), Huawei (China), and ZTE (China). Motorola is one of the leading players in the market, which offers a wide range of products designed for applications for a variety of industries, including education, fire and emergency, medical services, healthcare, hospitality, law enforcement, and mining. The company's offerings comprise technologies such as LTE broadband systems, MOTORBO systems, Project 25 systems, and SCADA.
- Advanced Features of Critical Communication
- Application of Critical Communication in Diverse Industries
- Need for Modernization of Old Equipment
- Limited Spectrum Bandwidth
- Multiple Standards in Devices And Systems
- Standardization of Infrastructure Platform
- Budget Constraints Toward Procurement
- Interoperability Issues
- Cobham Wireless
- Mentura Group
For more information about this report visit https://www.researchandmarkets.com/research/5zlw33/critical
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SOURCE Research and Markets