Yahoo Finance Public Safety LTE Market to Touch USD 3,246.5 Million at 22.07% CAGR by 2025 - Report by Market Research Future (MRFR)
New York, US, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Market Analysis:
According to a comprehensive research report by Market Research Future (MRFR), “Public Safety LTE Market Information by Product, by Application - Forecast to 2027”, market size to reach USD 3,246.5 million at a CAGR of 22.07% by 2025.
Market Scope:
Public safety LTE are networks for first responder teams across police, ambulance, fire airforce, and military divisions. They are used by these teams to provide support in case of emergencies and providing connectivity in remote areas. The report on the global public safety LTE market by Market Research Future (MRFR) covers trends and opportunities for the industry for the forecast period (2020-2027). The effects of the COVID-19 pandemic on the functioning of the industry is explained in a comprehensive manner.
Competitive Analysis:
Cisco Systems Inc
AT&T Inc
Nokia Corporation
Cobham PLC
Telefonaktiebolaget LM Ericsson
General Dynamics Corporation
Bittium
Airbus SE
Samsung Electronics
Motorola Solutions
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Market USP Exclusively Encompassed:
High Network Capacity to Handle Public Queries to Drive Market Demand.
The high rates of crimes and occurrences of disasters caused by weather change can drive the demand for assistance from first responder teams. The COVID-19 outbreak has highlighted the low development of networks and will be a prime issue in cities. Huge demand of connectivity for public safety agencies to function coupled with need for mobile radios and network capacity can augur favorably for the market. Public safety agencies need to collaborate with private providers in order to eliminate connectivity issues and enable group communications.
Threats to the general public and increasing investments in government agencies for undertaking safety issues can drive the market demand significantly. For instance, the United States government has taken the initiative for developing FirstNet, a reliable connectivity platform.
Utilization of LPWAN:
Development of smart cities and need for low power wide area networks (LPWAN) after the pandemic has highlighted urgent demand for critical communications. Deployment of various gateways by network providers for connecting homes to the city and use of cryptocurrency for rewarding customers can bode well for the public safety LTE market.
Lack of Spectrum Range to Hamper Market Growth
Lack of spectrum to successfully connect public safety agencies to all parts of cities can pose a problem to the market. Moreover, approval by governments and need for bandwidth ranges capable of penetrating buildings and walls can bode well for the market.
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Segmentation:
Private LTE to Rule Global Market:
By product, the global public safety LTE market is segmented into hybrid LTE, commercial LTE, and private LTE. Of these, the private LTE segment is predicted to lead the market and touch a value of USD 1222.9 million by 2025. Isolation of public safety traffic from commercial traffic and partnerships with public safety vendors to increase their market share. The commercial LTE segment, on the other hand, is predicted to expand at a healthy 24.7% CAGR over the forecast period.
Law Enforcement and Border Control to Depict 24.93% CAGR:
By application, the global public safety market is segmented into law enforcement and border control, emergency medical services, disaster management, and firefighting services. Of these, the law enforcement and border control segment is predicted to dominate the market over the forecast period. This is attributed to low capital investment by public safety agencies and use of existing network carriers.
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Regional Analysis:
Europe to Dominate Market Revenues:
Europe is set to dominate the market at 24.15% CAGR over the forecast period. This is attributed to telecommunication service providers focusing their efforts on development of applications, devices, and core. Deployment of devices capable of acting as a standard range for first responders for national communication and collaborations can drive the market demand.
North America to Follow Europe:
North America is expected to display 23.99% CAGR by 2025 due to rising awareness of public LTE services, presence of key providers, and technological breakthroughs. Rising numbers of terrorist attacks and occurrence of natural disasters has triggered the demand for these services.
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COVID-19 Impact:
The COVID-19 pandemic can negatively affect the public safety LTE market. This is attributed to shutdown of factories and lockdowns initiated in countries. Delay in rollout of projects can play a critical role in undercutting the market revenue. However, the need for seamless communication by the masses and healthcare sector can bolster market demand significantly.
Industry Update:
Hytera Mobilfunk, a German provider of telecommunications, is testing public safety LTE network for citizens in Hungary on behalf of Pro-M.
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