The public safety LTE market is projected to reach US$ 26.85 billion by 2028; it is estimated to grow at a compound annual growth rate of 21.5% from 2022 to 2028.
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 DYNAMICS
Citizens expect 24×7 service and communications from government agencies. They also seek easy access to correct, up-to-date information and a smooth connection with the apt government officials. Moreover, people want swift, effective, and transparent delivery of services, followed by quick, effective, and transparent resolution of problems. Many government agencies still rely on outdated communications infrastructures, such as leased PBX systems or Centrex-type systems; these systems do not match today's high standards as they are rigid, difficult to manage, and expensive to maintain, leading to slower response times and decreased production. Providing accurate information about government priorities, programs, and actions to citizens helps governments establish legitimacy. Governments are developing and maintaining excellent communication systems to be respectable players in the public sphere. These factors enable them to assess residents' needs and preferences and promote a deliberative public arena for multi-stakeholder involvement, informed policy debate, and emergency development efficacy, which eventually boosts the public safety LTE market growth.
MARKET SCOPE
The "Global Public Safety LTE Market Analysis to 2028" is a specialized and in-depth study with a special focus on market trend analysis. The report aims to provide an overview of the public safety LTE market with detailed market segmentation based on infrastructure, management & integration solution, device, subscription, and application. The public safety LTE market report provides key statistics of the market based on the revenue performances of major market players and explains key market trends and opportunities.
Strategic Insights
MARKET SEGMENTATION
The public safety LTE market is segmented on the basis of infrastructure, management & integration solution, device, subscription, and application. In terms of infrastructure, the market is segmented in radio access networks, evolved packet core & policy, and mobile backhaul & transport. Based on management & integration solution, the public safety LTE market is segmented into network integration & testing, device management & user services, managed services, operations & maintenance, and cybersecurity. Further, in terms of devices, the market is segmented into smartphones & hand portable terminals, vehicle mount routers & terminals, tablets & notebook PCs, USB dongles, and others. Based on subscription, the market is bifurcated into private LTE and commercial LTE. Based on application, the public safety LTE market is segmented into video applications, GIS, AVLS & mapping, mobile VPN access & security, CAD, remote database access, telemetry & remote diagnostics, bulk multimedia/data transfers, PTT & voice over LTE, and situational awareness.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry, including both qualitative and quantitative information. It provides an overview and forecast of the global public safety LTE market based on various segments. It also provides market size and forecast estimates from 2020 to 2028 with respect to five major regions, namely, North America, Europe, Asia Pacific (APAC), the Middle East and Africa (MEA), and South America. The market in each region is further segmented into respective countries and segments. The report covers an analysis and forecast of 18 countries, along with current trends and opportunities prevailing in the region.
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.
IMPACT OF COVID-19 PANDEMIC
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.
MARKET PLAYERS
The reports highlight key organic and inorganic growth strategies in the public safety LTE market. Organic growth strategies adopted by market players include product launches, product approvals, and patents and events. Further, the inorganic growth strategies witnessed in the market include acquisitions, partnerships, and collaborations. These activities have paved the way for the expansion of businesses and customer bases of market players.
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
- Amdocs
- Apple Inc.
- Alcatel-Lucent SA
- AT&T Inc.
- Broadcom Ltd.
- Cisco Systems Inc.
- Dell Inc.
- Eden Rock Communications
- Ericsson
- Fujitsu Ltd
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.