IndustryARC, in one of its latest reports, predicted that the market for critical communication is forecast to reach $27.20 billion by 2026, growing at a CAGR of 8.32% from 2021 to 2026. Rise in security concerns of various industries and fast-growing technology in communication sector drive its market growth. On the other hand, factors such as slow adoption of technology, high installation costs, lack of accessibility, limited data capacity hinders its market growth. 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 critical communication market report by IndustryARC covers complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
The top 5 players in the critical communication industry are:
2. Cobham Wireless
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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.
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Market Drivers and Challenges:
1. Ongoing Developments drives market growth: Public Safety Agencies (PSAs) developed communication technology of LMR for their voice communication specialised systems based on private narrow band radio network systems such as TETRA (Terrestrial Trunked Radio) or Project25 (P25). These technology developments involved in safety and security monitoring at vast scale is fulfilled by critical communication systems. This vast expansion in technology boosts its market growth globally.
2. Rise in Public safety measures taken by Governmental Organizations: Due to increase in Governmental regulations to bring mission-critical and business-critical end-users and manufacturers all together to develop business relationships and leverage high-level networking opportunities in global market has enhanced the Critical Communication Market globally.
3. High Installation cost: One of the major challenges faced by Critical Communication Market globally is the high installation cost of Safety and Security communication systems.
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