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Global Public Safety Lte & 5G Market Report 2022: Need for Efficient and Extensive Network Capacity Driven by COVID-19 Pandemic Fuels Growth
Global Public Safety Lte & 5G Market
Dublin, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The "Global Public Safety Lte & 5G Market, by Component, by Technology Generation, by Application, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.
The global public safety LTE & 5G market held a market value of USD 17,672.3 million in 2021 and is projected to grow at a CAGR of 23.04% in value terms from 2022 to 2030.
Increasing deployment of lockdown, curfews during the COVID-19 pandemic as well as rising funds from government for the public safety has greatly influenced the demand of public safety network and the adoption of public safety LTE and 5G network has raised significantly.
However higher maintenance cost along with limited adoption of these networks system in the developing countries is limiting the market growth during the study period.
Growth Influencers:
Need for efficient and extensive network capacity driven by COVID-19 pandemic
Introduction of community emergency response programme, and establishment of rapid response team at hospitals are increasing the adoption of advanced communication system. This, along with emergence of smart cities in the developing regions including Asia Pacific, is alternatively increasing the demand for robust, reliable and dedicated networks all along the area for crime control, medical safety and others which is subsequently increasing adoption of public Safety LTE & 5G networks across the region.
This is further augmented by the issue of strict guideline implied by government during COVID-19 pandemic. During the lockdown scenario the demand and adoption of these network system has been sky rocketed to provide a better communication between the front-end healthcare workers.
Thus, these increased applications along with introduction of advanced network system by major players are augmenting the demand and adoption of these network systems and contributing to the market growth.
Growth Restraints:
However, slower transition rate from legacy infrastructure towards public safety LTE & 5G network is one of the major limiting factors for the market growth. High cost structure and high maintenance of the LTE and 5G network is quite unaffordable for the emerging countries including Brazil, Mexico and resulting in reluctance towards transitioning from tradition infrastructure to advance networks.
Segments Overview:
The global public safety LTE & 5G market is segmented into component, technology generation, and application.
By Component
Network Infrastructure
Terminal Equipment
Systems Integration & Management Tools
Services
Terminal equipment is anticipated to grow with the highest CAGR of more than 23% during the forecast period. Wide range of availability of a number of terminal equipment including module, phone router, USB modem and others along with mandatory usage in the networking systems is supporting the growth of this segment during the study period. On the other hand, network infrastructure holds a significant market share of global public safety LTE & 5G market. Increasing initiative by the major players for the advancement of network infrastructure coupled with stringent focus over providing a robust network over the globe is anticipated to support the growth of this segment.
By Technology Generation
LTE
5G NR
The LTE segment hold more than 60% of the market share in 2021. Thriving ecosystem, performance metrics coupled with spectrum flexibility are some of the major factors contributing for the high adoption of this segment among major public safety organisations and thus contributing in the growth of this segment.
On the other hand, 5G NR is anticipated to grow with a significant CAGR during the forecast period. High rate of data transfer along with low latency are the key reason for the significant growth of this segment.
By Application
Mission-Critical Voice & Group Communications
Real-Time Video Transmission
Messaging, File Transfer & Presence Services
Mobile Office & Field Applications
Location Services & Mapping
Situational Awareness
Command & Control
AR/VR/MR (Augmented, Virtual & Mixed Reality)
The mission-critical voice & group communications segment is forecasted to contribute more than USD 35,000.0 million by 2030. Increasing number of terrorist attacks and natural disaster, the traditional emergency services often struggle with a lack of reliable communication. Thus, increasing preferences towards LTE and 5G network and advancement in the communication technology is fuelling the adoption rate of LTE & 5G network for public safety.
On the other hand, command and control segment is anticipated to grow with the highest CAGR during the forecast period.
Regional Overview
By region, the global public safety LTE & 5G market is divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The Asia Pacific region accounted for the largest market share of more than 30% of the market 2021. Rising initiatives by major telecom providers to invest and introduce advanced technology to offer seamless connection for public safety is augmented the growth and market dominance of this segment.
For instance, in April 2021, the New South Wales Telco authority signed a contract with Nokia and two CSPs, TPGT Telecom and Optus, to deliver a public safety mobile broadband proof of concept (PoC) trial in place of the narrowband critical communications networks that are currently in use and are unable to handle high data volumes and web-based applications.
Apart from that North America is expected to hold a significant CAGR during the forecast period. Presence of domestic players and rising government initiatives to implement advanced technology for public safety is supporting the growth of this region.
The global public safety LTE & 5G market report provides insights on the below pointers:
Market Penetration: Provides comprehensive information on the market offered by the prominent players
Market Development: The report offers detailed information about lucrative emerging markets and analyses penetration across mature segments of the markets
Market Diversification: Provides in-depth information about untapped geographies, recent developments, and investments
Competitive Landscape Assessment: Mergers & aacquisitions, certifications, product launches in the global public safety LTE & 5G market have been provided in this research report. In addition, the report also emphasizes the SWOT analysis of the leading players.
Product Development & Innovation: The report provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The global Public Safety LTE & 5G market report answers questions such as:
What is the market size and forecast of the Global Public Safety LTE & 5G Market?
What are the inhibiting factors and impact of COVID-19 on the Global Public Safety LTE & 5G Market during the assessment period?
Which are the products/segments/applications/areas to invest in over the assessment period in the Global Public Safety LTE & 5G Market?
What is the competitive strategic window for opportunities in the Global Public Safety LTE & 5G Market?
What are the technology trends and regulatory frameworks in the Global Public Safety LTE & 5G Market?
What is the market share of the leading players in the Global Public Safety LTE & 5G Market?
What modes and strategic moves are considered favorable for entering the Global Public Safety LTE & 5G Market?
Report Attribute | Details |
No. of Pages | 180 |
Forecast Period | 2021 - 2030 |
Estimated Market Value (USD) in 2021 | $17672.3 million |
Forecasted Market Value (USD) by 2030 | $110847.9 million |
Compound Annual Growth Rate | 23.0% |
Regions Covered | Global |
A selection of companies mentioned in this report includes
Celeno
Dell Technologies
HCL Technologies
IBM Corporation
A10 Networks, Inc
Ace Technologies Corp.
ADVA Optical Networking
BandwidthX
Blackberry
Carlson Wireless Technologies, Inc.
Dell Technologies
Enensys Technologies
GALTRONICS
General Electric
For more information about this report visit https://www.researchandmarkets.com/r/63jei9-public?w=12
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