Report Code: TIPTE100000589 | No. of Pages: 150 | Category: Technology, Media and Telecommunications | Status: Upcoming
A rise in terrorism, an increased focus on public safety, and the need for having reliable networks during emergencies are the factors contributing to the public safety LTE market growth. However, high implementation costs, restricted data transit capabilities, and limited spectrum bandwidth hinder the market growth. Government investments in mission-critical communication systems in the defense sector, on the other hand, are providing significant opportunities for the future of the public safety LTE market growth.
|Market Size Value in||US$ 7.00 billion in 2021|
|Market Size Value by||US$ 26.85 billion by 2028|
|Growth rate||CAGR of 21.5% from 2022 to 2028|
|No. of Pages||150|
|Historical data available||Yes|
|Segments covered||Infrastructure, Management & Integration Solution, Device, Subscription, and Application|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America|
|Country scope||US, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Free Sample Copy Available|
North America is expected to hold the largest share of the public safety LTE market during the forecast period. The market in this region is subsegmented into the US, Canada, and Mexico. North America is the most technologically advanced region owing to factors such as high GPD and high GDP per capita, the positive outlook for the adoption of advanced technologies, an elevated standard of living, favorable economic policies in effect, etc. The region is known to have a high emphasis on public safety as the regional and national governments spend significant amounts on public safety. For instance, in 2020, New York Police Department, Los Angeles Police Department, Chicago Police Department, Philadelphia Police Department, and Toronto Police allocated budgets of US$ 5.92 billion, US$ 1.86 billion, US$ 1.76 billion, US$ 4.9 billion, US$ 1.22 billion, respectively, for the procurement of advanced technologies, including mission-critical communications and connected devices.
The below figure showcases the revenue growth trend in the global public safety LTE market:
Source: The Insight Partners Analysis
The report analyzes factors affecting the public safety LTE market from the demand and supply sides. Further, it evaluates market dynamics, i.e., drivers, restraints, opportunities, and future trends, influencing the market progress. The report also provides an exhaustive Porter's Five Forces analysis of the market.
The COVID-19 pandemic had adverse effects on manufacturing businesses in North America in four critical areas: supply chain/operations, workforce, 2020 investments, and product offering. In the first nine months, overhead costs including expenses for sales, research & development (R&D), and administration of various providers fell adversely due to severe measures taken to control the disease spread. The COVID-19 pandemic significantly affected the mission-critical communication industry in North America, resulting in substantial financial losses for end-use industries, pushing them to postpone their public safety LTE implementation plans even more. The crisis also impacted operations at key public safety LTE hardware manufacturing sites, requiring a brief halt. As a result, several significant component suppliers and technology providers had to cut costs and output. As the demand for electronics remained constant, it helped the market to resume growth. Such increasing adoption of 5G smartphones is likely to favor the revival of the public safety LTW market after the pandemic subsides.
Post lockdown, the public safety LTE market witnessed increasing demand for digital devices. North America is among the eminent regions in adopting smart or IoT-based devices due to advanced infrastructure that supports high-speed internet services. The adoption of the 5G network has driven the market growth post-lockdown.
The report also includes the profiles of key companies in the public safety LTE market, focusing on their SWOT analysis and market strategies. The company profile section focuses on leading industry players with information such as components and services offered, financial information for the last 3 years, and key development in the past 5 years. The list of a few companies engaged in the public safety LTE market is given below:
The report on the public safety LTE market presents the profiles of key companies in this market
The dedicated research and analysis team at The Insight Partner consists of experienced professionals with advanced statistical expertise. The team also offers various customization options in the existing study.
The List of Companies
2. Apple Inc.
3. Alcatel-Lucent SA
4. AT&T Inc.
5. Broadcom Ltd.
6. Cisco Systems Inc.
7. Dell Inc.
8. Eden Rock Communications
10. Fujitsu Ltd.