Digital Assistant Market Price Analysis 2021, Size, Share and Business Opportunities to 2027
According to the analysis offered by Market Research Future (MRFR), the global public safety LTE market is expected to reach a valuation of USD 3,246.5 Mn towards the end of 2025 from USD 690.3 Mn in 2017. The market is poised to thrive at 22.07% CAGR during the forecast period 2018 to 2025. It is one of the innovations in technology that facilitates quick and correct response in an emergency, thus improving public safety solutions. Rapid urbanization has intensified the demand for public safety LTE in the recent years. According to a report published, more than 65% of the population would be dwelling in urban areas by 2022. It is likely to have a positive impact on the proliferation of the public safety LTE market over the assessment period.
The advent of LTE-advanced has opened new avenues for growth of the global market by facilitating the transfer of high volumes of data. It is projected to optimize the market presence of LTE for public safety, thus, augmenting the market. Furthermore, the rising demand for unmanned operations and remote surveillance is likely to boost the growth of the public safety LTE market in the forthcoming years.
The initiatives undertaken by the government such as smart city development, rising threats of crimes and natural disasters, and market penetration of Internet of Things (IoT), are some of the factors that are poised to propel the expansion of the market in the upcoming years. However, the limited sophistication of telecommunication and network infrastructure in developing countries is expected to restrict the growth of the Public Safety LTE Market Size.
Global Market for Public Safety LTE – Segmental Analysis:
The global public safety LTE market is segmented on the basis of product and application in this MRFR report for a detailed assessment. By product, the market is segmented into private LTE, commercial LTE, and hybrid LTE. The private LTE segment is expected to attract a relatively larger customer base towards the end of the forecast period. It is estimated to value at USD 1222.9 Mn by the end of 2025. Meanwhile, the commercial LTE segment is poised to strike the highest CAGR of 24.7% over the assessment period.
By application, the global public safety LTE market has been segmented into law enforcement and border control, emergency medical services, firefighting services, and disaster management. Among these, the law enforcement and border control segment accounted for the largest share of the market in 2017. It is prognosticated to grow substantially owing to the rising demand for surveillance and controlling in the border areas. Meanwhile, the disaster management segment is anticipated to mark a relatively higher CAGR of 24.935 during the review period. It is estimated to command the maximum share of the public safety LTE market by the end of 2025 and value at USD 1190.8 Mn.
By region, the global public safety LTE market has been segmented into North America, Asia Pacific, Europe, and the Rest of the World (RoW). Europe held the maximum share of the market in 2017 which accounted for 40.34% share. The factors such as growing concern regarding public safety, rapid urbanization, market penetration of Internet of Things (IoT), etc. are projected to lead the expansion of the global market in the foreseeable future.
North America is the second largest market and held 30.76% share of the global public safety LTE market in 2017. The future trajectory of the regional market is dominated by technological developments and its early adoption. It is forecasted to reach a valuation of USD 1118 Mn by 2025-end thriving at a CAGR of 23.99%.
Asia Pacific has been forecasted to grow from USD 145.3 Mn in 2017 to USD 502.6 Mn by the end of 2025. It is estimated to resonate promising potential for expansion and strike a CAGR of 17.29% during the assessment period. The growth of the market is expected to be catalyzed by the accelerated adoption of LTE public safety solutions in China.
The Rest of the World is likely to exhibit a comparatively steadier but constant growth over the next couple of years. The Middle East & Africa is presumed to expand at a higher CAGR than Latin America throughout the projection period.
Global Market for Public Safety LTE – Competitive Dashboard:
Some of the major players operating in the market are AT&T Inc., Telefonaktiebolaget LM Ericsson, Cisco Systems, Inc., Samsung Electronics, Bittium, Nokia Corporation, Cobham PLC, Motorola Solutions, Airbus SE, and General Dynamics Corporation.
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