Dublin, Feb. 10, 2022 (GLOBE NEWSWIRE) -- The "Public Safety LTE - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Public Safety LTE Market to Reach US$16.8 Billion by the Year 2026
The global market for Public Safety LTE estimated at US$5.6 Billion in the year 2020, is projected to reach a revised size of US$16.8 Billion by 2026, growing at a CAGR of 19.9% over the analysis period.
Given that reliable communication is vital for efficient provision of essential services and also planning in an emergency, public safety LTE is witnessing increasing demand. The expansion of first responder teams is resulting in growing number of pre-emergency procurement contracts for telecommunications equipment and services including LTE systems.
Launch of community emergency response programs and formation of rapid response teams (RRTs) at hospitals are also expected to benefit market growth. The rise of smart cities will augment the need for advanced public safety LTE solutions. Public safety LTE helps in making cities smarter and safer by providing robust, reliable, and dedicated networks. The technology provides solutions for crime prevention; for emergency medical services; for firefighters and rescue worker, to name a few.
Stringent fire safety regulations in the US and Europe, coupled with rise in government initiatives across different regions to increase fire safety awareness, are expected to drive the demand for Public Safety LTE. The use of public safety LTE benefits the fire and rescue teams in several ways such as by providing advanced vehicle location services for supporting fire engine fleet.
Infrastructure, one of the segments analyzed in the report, is projected to grow at a 18.9% CAGR to reach US$14 Billion by the end of the analysis period.
After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Services segment is readjusted to a revised 22.5% CAGR for the next 7-year period.
Hybrid networks are expected to witness faster growth as companies focus on leveraging their investments in radios that are LMR-LTE capable. Technology investments and end-user CAPEX on improvements to existing LMR networks/narrowband voice systems will continue rise driving demand for hybrid LTE solutions.
The U.S. Market is Estimated at $2.2 Billion in 2021, While China is Forecast to Reach $1.7 Billion by 2026
The Public Safety LTE market in the U.S. is estimated at US$2.2 Billion in the year 2021. The country currently accounts for a 33.9% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$1.7 Billion in the year 2026 trailing a CAGR of 20.7% through the analysis period.
Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 18.5% and 17.7% respectively over the analysis period. Within Europe, France is forecast to grow at approximately 18.2% CAGR while Rest of European market (as defined in the study) will reach US$1.4 Billion by the end of the analysis period.
The rising penetration of 4G is expected to support growth in both developed and developing regions. Developed countries such as the US and Japan, and Europe represent the foremost adopters of 4G technology and in majority of developed nations 4G has achieved significant penetration rate.
4G has also made a rapid progress in developing nations such as China, the most populous nation in the world, and has lately gathered steam in India, the second most populous country.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- The Ever-Present Need for Mission Critical Communications Provides the Foundation for the Growth of Public Safety LTE
- Tracing the Evolution of Public Safety Communications from LMR to LTE
- 4G LTE & 5G Which is Designed to Expand Beyond the Capabilities of LTE Rise to the Forefront
- Long-Term-Evolution (LTE) Emerges to Augment & Complement Traditional LMR, Not Replace It
- The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Heading in 2021 & Beyond?
- These are Times When Questions Abound & Answers Are Few
- So How Fast Or Slow Are We Moving?
- Split Scenarios Unfold: The Great Vaccine Divide Emerges
- Progress on Vaccinations, Why Should Businesses Care?
- With IMF's Upward Revision of Global GDP Forecasts for 2021, Most Companies Are Bullish About an Economic Comeback Despite a Continuing Pandemic
- How Was Public Safety Technologies Impacted by the Pandemic & What's the New Normal?
- Recent Market Activity
2. FOCUS ON SELECT PLAYERS(Total 52 Featured)
- Airspan Networks Inc
- AT&T, Inc.
- Bittium Corporation
- Cisco Systems Inc.
- Cobham plc
- Frequentis AG
- General Dynamics Corporation
- Hytera Communication Co. Ltd.
- L3Harris Technologies, Inc
- Leonardo S.p.A.
- Mentura Group OY
- Motorola Solutions, Inc.
- Nokia Corporation
- Samsung Electronics Co., Ltd.
- Sierra Wireless
- Sonim Technologies Inc.
- Telefonaktiebolaget LM Ericsson
- Verizon Communications Inc.
3. MARKET TRENDS & DRIVERS
- The Growing Need to Manage Disaster Risk Against the Backdrop of Climate Change to Spur Growth of Public Safety LTE
- Focus On Developing Long-Term Emergency Medical Services Infrastructure to Benefit Growth In The Market
- Growing Healthcare Burden, a Key Factor Underlying the Importance of Healthcare Preparedness
- COVID-19 Induced Focus on Developing Long-Term Emergency Medical Services Infrastructure to Benefit Growth in the Market
- Aging Population, Trend Towards Aging-In-Place & Robust Growth of Personal Emergency Response Systems (PERS) to Benefit Public LTE Deployment
- Development of Ambulance Services Infrastructure to Benefit Investments in Public Safety LTE
- Rising Terrorism, Stringent Law Enforcement, Healthy Defense Budgets & Stricter Border Control Spur the Need for Mission Critical Communication Systems
- Global Defense Spending Continues to Grow Steadily Unfazed by the Pandemic
- Rising Terrorism Leads to Stricter Border Control
- Stringent Fire Safety Regulations & Increase in Fire Response Services to Benefit Growth of Public Safety LTE
- Growing Investments in Smart City Drives Demand for Advanced Public Safety LTE Solutions
- Public Safety LTE Integration with Smart City Initiatives is Imperative. Here's Why
- Commercial LTE Operators Eye Public Safety Communications
- Ensuring Safety Inside Public Buildings Emerges Into the Spotlight
- Here's How 5G Will Revolutionize Public Safety
- Growing Adoption of LPWA Technologies in Public Safety Applications
- LTE-Railway (LTE-R) - A Version of LTE to Support Mission-critical Requirements of Rail Operators
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/5yr3e4
