Public Safety-LTE Market Worth $11.7 Billion by 2024 - Exclusive Report by MarketsandMarkets(TM)
Wednesday, December 4, 2019
CHICAGO, Nov. 26, 2019 /PRNewswire/ -- According to the new market research report "Public Safety-LTE Market by Infrastructure (E-UTRAN, EPC), Service (Consulting, Integration), Deployment Model (Private, Commercial, Hybrid), Application (Law Enforcement & Border Control, Firefighting Services), End User, Region - Global Forecast to 2024", published by MarketsandMarkets(TM), the Public Safety-LTE Market is projected to grow from USD 4.7 billion by 2019 to USD 11.7 billion by 2024; it is expected to grow at a CAGR of 20.2% from 2019 to 2024.
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The PS-LTE market has enormous potential for growth across various applications such as law enforcement & border control, emergency medical services, firefighting services, and disaster management. Communication is imperative for public safety agencies as they require effective communication to deal with natural or man-made disasters. Public safety-LTE, which integrates voice communication and data transfer abilities with robust purpose-built systems, devices, and control centers, helps police, military, and other security forces to work safely and smartly by assisting them in improving their real-time decision-making capabilities.
Infrastructure segment to hold the largest size of the PS-LTE market from 2019 to 2024
The infrastructure segment accounted for the largest share of the PS-LTE market in 2018. The dominance of the infrastructure segment can be attributed to new public safety projects being undertaken in Europe, especially in the UK, Finland, and France and in Asian countries such as South Korea and Japan. The end-use devices segment of the PS-LTE market for infrastructure is projected to grow at the highest CAGR during the forecast period. The growth of this segment can be attributed to the increasing demand for LTE technology- and hybrid (LTE and TETRA)-enabled devices across the globe.
Hybrid LTE segment of the PS-LTE market is projected to grow at the highest CAGR during the forecast period
The hybrid LTE deployment model is expected to offer significant opportunities for the PS-LTE industry as it provides highly reliable services at costs lower than the private LTE deployment model. Due to the high costs incurred in adopting a completely dedicated public safety network, government agencies are expected to opt for the hybrid LTE deployment model. Shared network running costs is one of the prime drivers for the growth of the hybrid LTE segment of the PS-LTE market.
Europe accounted for the largest size of the PS-LTE market in 2018
The growing requirement for strong security measures and compliance management in Europe owing to increase in online public safety applications to carry out video surveillance activities and rise in image and video sharing, as well as an increase in demand for unmanned vehicles, have made the region a highly lucrative market for vendors of public safety solutions. The market in North America is expected to grow at the highest CAGR from 2019 to 2024. The growth of the PS-LTE market in North America is mainly driven by increase in the instances of terrorist attacks and the occurrence of natural calamities such as floods, cyclones, forest fires, and earthquakes, and cyberattacks in the region.
Browse in-depth TOC on "Public Safety-LTE Market"
118 - Tables
48 - Figures
173 - Pages
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Major players operating in the PS-LTE market are Airbus SE (Netherlands), Motorola Solutions, Inc. (US), General Dynamics Corporation (US), Bittium Corporation (Finland), Nokia (Finland), Harris Corporation (US), ZTE Corporation (China), Huawei Technologies Co. Ltd. (China), Samsung Electronics Co. Ltd. (South Korea), AT&T, Inc. (US), Hytera Communications Corporation (China), and KT Corporation (South Korea).
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