Market overview
Public safety LTE market size valuation is predicted to reach $41.28 billion by registering a healthy CAGR of 21.37% in the forecast period. Public safety is the core responsibility of a government which involves protecting the citizen from crime and natural disasters. The availability of a converged communication network is working for public safety, such as public safety-LTE. Some benefits of public safety are cost-effectiveness, high-reliability flexibility, real-time, and enables remote management.
The Public Safety LTE is used in various applications like law enforcement, disaster management, firefighting services, border control, and emergency medical services. The key components of PS-LTE solutions are radio access networks, end-user devices, EPC, and backhaul networks. Public safety LTE offers seamless connectivity and very high speed, and with growing demand for unmanned operations, the public Safety LTE market will grow significantly.
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Public Safety LTE Market Research Report Forecast to 2030 | MRFR
Global Public Safety LTE Market is expected to reach a valuation of USD 41.28 Billion towards the end of 2030 from USD 690.3 Mn in 2017 | Public Safety LTE market is poised to thrive at 21.37% CAGR during the forecast period 2020 to 2030 | Public Safety LT
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Public safety LTE was also used during the COVID-19 pandemic to ensure a quick response from the public safety agency to take care of the safety of people. Other factors contributing to the growth of the public safety LTE market are:
- The use of the technology to remove the inter-connective issues.
- Demand for unmanned vehicles and quality service.
- Increased data security offered by LTE technology.
Market segmentation
The Public Safety LTE network market is segmented based on deployment model, application, and component.
The Public Safety LTE industry is divided into commercial LTE, Hybrid LTE, and Private LTE based on the deployment model. Private LTE is expected to hold the highest share due to the capability of private LTE networks to operate standards-based LTE in both licensed and unlicensed spectrum.
By application, the Public Safety LTE market is segmented into disaster management, firefighting services, law enforcement and border control, and emergency medical services. Law enforcement and border control are expected to have the highest CAGR rate in the forecast period due to broadband for public safety that enables law enforcement to stream video and access information.
By component, the market is segmented into services and infrastructure. The services segment is expected to hold the largest market share due to the full deployment of the PS-LTE services network globally.
Regional analysis
The major regions in the Public Safety LTE market are North America, Asia Pacific, Europe, and the rest of the world. Among these, Europe is expected to dominate the public safety LTE market. In 2017 Europe accounted for the 40.34% share of the market due to increasing concern for public safety, penetration of IoT, and rapid urbanization.
North America is expected to have the second-largest share in the public safety market. This region accounted for 30.76% of the market share in 2017 due to technological development, public safety adoption, and awareness about the benefits of safety.
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Industry news
In December 2020, one of the biggest watch brands, Fossil, started working on its latest smart-watch with LTE technology. This is going to be the first-ever watch that comes with LTE capabilities. It will offer cellular connectivity and better performance with long battery life as well. It aims to make people less dependent on their smartphones.
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