According to Market Research Future (MRFR), the global mission critical communication market is projected to reach an approx valuation of USD 45.22 Billion by the end of the forecast year, expanding at a compound annual growth rate of CAGR of 11.1 percent during the forecast timeframe 2020–2030. The proliferation of industrial automation and data center & enterprise communication networking are major factors influencing the mission critical communication market growth.
The COVID-19 outbreak considerably affected the mission critical communication industry, causing huge revenue losses to end-use industries, which further delayed their MCX deployments plans. The pandemic also disrupted operations at major MCX hardware production plants, forcing a shutdown for a brief period. This further prompted various key component suppliers and technology providers to reduce expenses and production.
However, the epidemic fostered industrial automation, which further helped the mission critical communication market normalize and witness rising revenues. Simultaneously, emerging economic and technical trends presented new opportunities to the market players. Industry players have started fostering their investments to work on countermeasures. In short, the mission critical communication market is soon expected to resume the growth trend it was witnessing before the onset of the COVID 19.
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Mission Critical Communication (MCX) Market Challenges:
The Mission Critical Communication Market's development is challenged by high implementation costs, restricted data transfer capacities, and restricted spectrum frequency availability and The high level of capital expenditures needed to implement MCX solutions.
Mission Critical Communication (MCX) Market Competitive Landscape
The MCX market is estimated to witness several strategic approaches such as partnerships, expansion, collaboration, mergers & acquisitions, and product/ technology launch. Leading industry players make significant investments to drive research and development activities and expansion plans.
For instance, recently, on Dec.21, 2020, Airbus Defence and Space (Netherlands), a leading secure MCX technology provider, announced that a leading oil and Gas company in Saudi Arabia has selected it to upgrade its mission-critical communication network. Airbus caters its secure communications technologies to the civil and military markets. The upgrade is aligned with O&G Company's strategy to reinforce its facilities and maximize the use of the latest smart solutions and IoT platforms.
Notable Players Operating In The Global MCX Market Include:
- Nokia (Finland)
- Motorola Solutions Inc. (US)
- ZTE Corporation (China)
- Huawei Technologies Co. Ltd (China)
- Telefonaktiebolaget LM Ericsson (Sweden)
- AT&T Inc. (US)
- Hytera Communication Corp Ltd (China)
- Harris Corporation (US)
- Cobham Wireless (UK)
- Mentura Group OY (Finland)
- Ascom (Switzerland)
- Leonardo SpA (Italy)
- Zenitel (Norway)
- Inmarsat PLC (UK)
- Telstra (Australia)
Mission Critical Communication (MCX) Market Segmentation
On the basis of Product Type:
- Hardware
- Services
- Software
On the Basis of the End Users/Applications:
- Energy and Utilities
- Public Safety and Government Agencies
- Mining
- Transportation
- Others
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Mission Critical Communication (MCX) Market Regional Overview
North America, Europe, Asia Pacific and the rest of the world regional market for mission critical communication (MCX) are predominantly covered in the global mission critical communication (MCX) market research report. Country-level mission critical communication (MCX) markets spread across North America – the United States, Canada, and Mexico are also covered in the report. In South America – Brazil and other country-level mission critical communication (MCX) markets are covered in the report. In Asia-Pacific (APAC) region, the country-level mission critical communication (MCX) markets covered are Japan, India, China, and others. The mission critical communication (MCX) market research report also explores the regional market for mission critical communication (MCX) present in Europe in the United Kingdom, France, Italy, Spain, and Germany, etc. The mission critical communication (MCX) market research report also covers regional markets from the rest of the world alongside mission critical communication (MCX) markets of Africa and the Middle East.
Table of Content:
- Market Definition and Overview
- Research Method and Logic
- Market Competition Analysis
- Product and Service Analysis
- Strategies for Company to Deal with the Impact of COVID-19
- Market Segment by Vertical, Historical Data and Market Forecasts
- Market Segment by Component, Historical Data and Market Forecasts
- Market by by Region, Historical Data and Market Forecasts
- Market Dynamic Analysis and Development Suggestions
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