Report : Europe Mission Critical Communication Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware, Software, and Services), Technology [Land Mobile Radio (LMR) and Long-Term Evolution (LTE)], and Vertical (Public Safety and Government Agencies, Transportation, Energy and Utilities, Mining, and Others)
At 9.1% CAGR, the Europe mission critical communication market is speculated to be worth US$ 10,391.36 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe mission critical communication market was valued at US$ 6,154.55 million in 2022 and is expected to reach US$ 10,391.36 million by 2028, registering an annual growth rate of 9.1% from 2022 to 2028. The rise in adoption of mission critical communication systems from energy & utility sector and rising military expenditure are the critical factors attributed to the market expansion.
Oil and gas production facilities and energy transmission lines are frequently located in isolated and hostile areas. Accidents or shutdowns can cause disastrous consequences. Power outages, gas and water shortage, and accidents at oil and gas extraction facilities disrupt routine operations, which can be economically harmful for the company, potentially dangerous to people and environment, and damaging to the brand position. Therefore, identification of any issue is critical, and a remedy is put in place as soon as feasible. Many widely dispersed facilities with electrical substations, energy distribution pylons, reservoirs, pumping stations, clean water and wastewater treatment plants, pipelines, and storage tanks are operated by power distribution and water corporations around the country. For example, offshore facilities, including wind farms and oil and gas rigs, and land-based oil and gas extraction sites are generally located in distant, sparsely populated areas with weak or nonexistent cellular coverage. These factors propel the adoption of mission critical communications systems from the energy & utility sector. Instant push-to-talk (PTT) is provided by modern digital communications solutions, such as Hytera's Digital Mobile Radio (DMR) and TETRA two-way radio portfolios, which allow people to make instant calls to another person or a group of people from anywhere, at any time. These technologies can also transport data for crucial distant asset monitoring and connect with other systems, such as telephone networks, to build a comprehensive unified communications platform. Thus, the above-mentioned factors drive the mission critical communication market growth.
On the contrary, deployment problems of public safety LTE networks hurdles the growth of Europe mission critical communication market.
Based on component, the Europe mission critical communication market is classified into hardware, software, and services. The hardware segment held 45.3% market share in 2022, amassing US$ 2,789.51 million. It is projected to garner US$ 4,427.67 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on hardware, the mission critical communication market is further categorized into command and control center, router and gateways, and distribution management system. The distribution management system segment held 43.8% market share in 2022, amassing US$ 1,221.79 million. It is projected to garner US$ 1,952.60 million by 2028 to expand at 8.1% CAGR during 2022–2028.
Based on technology, the Europe mission critical communication market is classified into land mobile radio (LMR) and long-term evolution. With 50.5% share of the domain, the land mobile radio (LMR) segment dominated the market in 2022. It accrued US$ 3,108.97 million in 2022 and is estimated to generate US$ 4,323.62 million by 2028 to grow at a CAGR of 5.7% over the forecast period.
Based on vertical, the Europe mission critical communication market is segmented into public safety and government agencies, transportation, energy and utilities, mining, and others. With 34.0% share of the domain, the public safety and government agencies segment dominated the market in 2022. It accrued US$ 2,092.94 million in 2022 and is estimated to generate US$ 3,622.06 million by 2028 to grow at a CAGR of 9.6% over the forecast period.
The Europe mission critical communication market, based on country, is segmented into Germany, France, Italy, the UK, Russia, and the rest of Europe. Our regional analysis states that Germany captured 33.9% market share in 2022. It was assessed at US$ 2,085.55 million in 2022 and is likely to hit US$ 3,336.67 million by 2028, exhibiting a CAGR of 8.1% during the forecast period.
Key players dominating the Europe mission critical communication market are Ascom; Huawei Technologies Co. Ltd.; Hytera Communication Corporation Limited; L3Harris Technologies, Inc.; Mentura Group Oy; Motorola Solutions, Inc.; Nokia Corporation; Tassta GmbH; Telefonaktiebolaget LM Ericsson; and Zenitel among others.
Contact Person: Sameer Joshi
Phone: +1- 646- 491- 9876
Email Id: email@example.com