Europe Mission Critical Communication Market to Surpass $10.3 Billion by 2028 at a CAGR of 9.1%
DUBLIN, Nov. 23, 2022 -- The "Europe Mission Critical Communication Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component, Technology and Vertical" report has been added to ResearchAndMarkets.com's offering.
The mission critical communication market in Europe is expected to grow from US$ 6,154.55 million in 2022 to US$ 10,391.36 million by 2028; it is estimated to grow at a CAGR of 9.1% from 2022 to 2028.
Rapid transformations in modern warfare have been urging governments of European countries to allocate high amounts to respective military forces. Such budget allocations enable military forces to develop robust indigenous technologies, and procure advanced vehicles and other equipment, including communication systems, from international manufacturers. The adoption of advanced and effective communication systems is peaking among most military forces to keep them mission ready.
To modernize and create an effective communication network across war fields, defense ministries are investing substantial amounts in newer technologies, including mission critical communication systems.
For instance, in August 2021, Motorola Solutions received a contract worth US$ 82.3 million from German Navy to supply new mission critical communication networks for 16 naval vessels and other training platforms. Thus, an urge rise in military expenditure for the procurement of mission critical communication systems is expected to create lucrative opportunities for the market players during the forecast period.
- Rise in Adoption of Mission Critical Communication Systems from Energy & Utility Sector
- Increase in Investments in New Product Initiative by Players
- Deployment Problems of Public Safety LTE Networks
- Rising Military Expenditure
- Integration of Advanced Technologies to Enhance Mission Critical Communication Solution Efficiency
Europe Mission Critical Communication Market Segmentation
The Europe mission critical communication market is segmented on the basis of component, technology, vertical, and country.
- Based on component, the market is segmented into hardware, software, and services. In 2022, the hardware segment is estimated to dominate the market. The market for mission critical communication hardware is further segmented into command and control centers, routers and gateways, and distribution management systems. In 2022, the distribution management system segment is expected to dominate the market for hardware.
- Based on technology, the Europe mission critical communication market is categorized into land mobile radio (LMR) and long-term evolution. In 2022, the long-term evolution segment is likely to lead the market.
Based on vertical, the Europe mission critical communication market is segmented into public safety and government agencies, transportation, energy and utilities, mining, and others. In 2022, the public safety and government agencies segment is expected to dominate the market. The Europe mission critical communication market, based on country, is segmented into Germany, France, Italy, the UK, Russia, and rest of Europe. In 2022, Germany dominated the market.
Key Topics Covered:
2. Key Takeaways
3. Research Methodology
4. Europe Mission Critical Communication Market Landscape
5. Europe Mission Critical Communication Market - Key Market Dynamics
6. Mission Critical Communication Market - Europe Analysis
7. Europe Mission Critical Communication Market Analysis - by Component
8. Europe Mission Critical Communication Market Analysis - by Technology
9. Europe Mission Critical Communication Market Analysis - by Vertical
10. Europe Mission Critical Communication Market - Country Analysis
11. Industry Landscape
12. Company Profiles
- Huawei Technologies Co. Ltd.
- Hytera Communication Corporation Limited
- L3Harris Technologies, Inc.
- Mentura Group Oy
- Motorola Solutions, Inc.
- Nokia Corporation
- Tassta GmbH
- Telefonaktiebolaget LM Ericsson
For more information about this report visit https://www.researchandmarkets.com/r/nd4zbe
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