The public safety LTE market is expected to be valued at USD 5.9 billion in 2020 and is likely to reach USD 15.4 billion by 2025; it is expected to grow at a CAGR of 21.1% during the forecast period. The major drivers for the market are adoption of LTE technology to eliminate the existing interconnectivity issues between different networks, increase in demand for unmanned vehicles globally, seamless data connectivity offered by LTE technology, and the need for efficient and extensive network capacity driven by COVID-19 pandemic. The major restraint for the market is the spectrum scarcity of PS-LTE. The critical challenges include high costs of developing and maintaining LTE network infrastructures, limited adoption of LTE in public safety applications due to reliability concerns, and budget constraints for developing and maintaining PS-LTE networks. Underlying opportunities include implementation of emergency services IP networks, and adoption of LPWA connectivity technologies in LTE.
The services segment is projected to grow at the highest CAGR from 2020 to 2025. The growth of the services segment can be attributed to the expectation that the PS-LTE services would be fully deployed in most of the regions of the world by 2020, and there would be increased revenue from these services than the PS-LTE infrastructure. Moreover, the developed PS-LTE networks in countries such as Australia, China, Qatar, the UAE, and the US are expected to proliferate the demand for managed and other professional services.
Download PDF Brochure:
https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=149438422
The growth of the private LTE segment of the PS-LTE market can be attributed to the increased use of private LTE deployment model for PS-LTE networks in South Korea, Qatar, and some countries of the Middle East. Private LTE networks are capable of operating standard-based LTE networks in both licensed and unlicensed spectrum, with local service providers exercising control over them. Public safety organizations use the private LTE network deployment model to optimize it according to their requirements. Real-time streaming, device monitoring, and multimedia services are some key features offered by private LTE in public safety applications.
The emergency medical services application is expected to register the highest CAGR during the forecast period. LTE networks in emergency services lead to the sharing of real-time videos of patients that help in obtaining the vitals of patients virtually. It also enables the command centers to send the nearest responders to the locations where they are required by tracking GPS details of patients. LTE networks in emergency services provide information related to the hospital assets so that the EMS personnel can shift patients to the best-suited facilities nearby. They also provide insights into the pre-existing conditions of patients to the EMS personnel by providing them access to their medical record databases and prescribed medicines.
The protection of critical infrastructures is considered to be the most severe economic and national security challenge by the governments of both the US and Canada, thereby leading to the growth of the PS-LTE market in North America. Moreover, the deployment of new PS-LTE networks in Mexico has further supplemented the growth of the market in this region.
No comments:
Post a Comment