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Global Public Safety LTE Market to Reach $12.6 Billion by 2026
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Public Safety LTE - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 7; Released: May 2021
Executive Pool: 13019
Companies: 28 - Players covered include 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. and Others.
Coverage: All major geographies and key segments
Segments: Type (Infrastructure, Services); Deployment (Private, Hybrid, Commercial); Application (Law Enforcement and Border Control, Firefighting Services, Emergency Medical Services, Disaster Management)
Geographies: World; USA; Canada; China; Europe; France; UK; Spain; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Public Safety LTE Market to Reach $12.6 Billion by 2026
Public safety LTE is defined as the use of LTE mobile broadband communication for the use of mission critical communications which were hitherto implemented on LMR and TETRA Networks. Currently, a large percentage of PS-LTE networks utilize the 700 MHz band, with few countries pilot testing LTE on lower bands such as the 400 MHz band. 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 o 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.
Amid the COVID-19 crisis, the global market for Public Safety LTE estimated at US$4.6 Billion in the year 2020, is projected to reach a revised size of US$12.6 Billion by 2026, growing at a CAGR of 17.6% over the analysis period. Services, one of the segments analyzed in the report, is projected to record a 19.6% CAGR and reach US$7.6 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 Hybrid segment is readjusted to a revised 19.7% CAGR for the next 5-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 $1.8 Billion in 2021, While China is Forecast to Reach $1.4 Billion by 2026
Public Safety LTE market in the U.S. is estimated at US$1.8 Billion in the year 2021. China is forecast to reach a projected market size of US$1.4 Billion by the year 2026 trailing a CAGR of 19.5% over the analysis period. Among the other noteworthy geographic markets are Canada and Europe, each forecast to grow at 16.3% and 15% respectively over 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. More
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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: [email protected]
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SOURCE Global Industry Analysts, Inc.
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