The Global MCX Market was valued at $13.63 Billion in 2018 and is estimated to reach $26.66 Billion by 2025 growing at a CAGR of 10.5% during the forecast period 2019–2025. Modern characters offered by mission-critical communication (MCX) systems and rising demand for a trusted network during emergencies are the most crucial driving elements of the MCX Market 2020.
The ability of MCX systems to interact in situations where normal/commercial communication network does not function has assisted them to earn grand fame.
MCX systems allow the individuals to easily connect for back-up irrespective of their location or the availability of the commercial network. MCX networks improvise communication abilities and reduce the latency in communication which assists in increasing public safety in case of emergencies.
Moreover, mission-critical communication networks are created to offer major factors of control such as call prioritization and pre-programmed interoperability during natural calamity letting the neighboring systems to be utilized and other additional users to be added on to the network irrespective of the radio technology established in their systems. But, the lack of spectrum bandwidth is one of the major restraining elements for the expansion of this market.
The Global MCX Market has been classified on the grounds of End-User, Component, Region, and Technology.
Based on the component, the market has been segmented into software, hardware, and services. The hardware segment has been sub-divided into distributed management systems, command and control centers, routers and gateways, and others. The services have been classified into integration and maintenance segments and consulting.
The technology vertical has been sub-divided into long-term evolution (LTE) and land mobile radio (LMR). The vertical segment has been sub-divided into energy and utilities, public safety and government agencies, mining, transportation, and others.
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Regional Market Analysis
The MCX Market has been classified into Asia-Pacific, North America, Europe and the Rest of the World (RoW).
North America dominated the MCX market in 2018, earning the maximum market value of $4.58 billion; it is estimated to expand at a CAGR of 10.3%. Among all the nations, the US held the largest market share in the region owing to the existence of several local and major vendors in the country.
Introduction of LTE services by prominent service providers such as AT&T and establishment of FirstNet, a national security broadband network in 2012 using LTE 700 MHz spectrum results in the expansion of the MCX Market in the US.
At the same time, Canada is estimated to experience the quickest growth rate due to factors such as well-established infrastructure for smoothening the establishment of modern technologies. Canadian Advanced Technology Alliance (CATA) has composed a new term “Global Broadband” to fetch required broadband objectives across the globe.
Sectors consisting of mining and oil & gas will continue to adopt private LTE networks to make their operations more effective which is estimated to expand the growth of the market.
Asia-Pacific is estimated to be the second-fastest-growing region for the MCX market expanding at a CAGR of 11.0% during the review period of 2019 to 2025; owing to rising investments and fast advancements in infrastructure and transportation facilities in the region.
China holds the maximum market share in the region due to the existence of several local and major vendors in the nation. The region is prone to natural disasters such as hailstorms, earthquakes, floods, and others which brings an impact on the traditional communication networks; hence, several end-users are promoting and adopting the MCX systems and networks.
Some of the distinguished competitors in the Global MCX Market are Telstra (Australia), Motorola Solutions, Inc. (the US), Nokia (Finland), Hytera Communication Corp Ltd (China) ZTE Corporation (China), Telefonaktiebolaget LM Ericsson (Sweden), Ascom (Switzerland), AT&T Inc. (US), Huawei Technologies Co. Ltd (China), ), Leonardo SpA (Italy), Harris Corporation (US), Cobham Wireless (UK), Mentura Group Oy (FinlandInmarsat PLC (UK), and Zenitel (Norway) among others.