“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. 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 COVID-19 pandemic is driving the need for efficient and extensive network capacity are expected to help the growth of the PS-LTE market during the forecast period.
Major players in the market are Motorola Solutions, Inc. (US), General Dynamics Corporation (US), Airbus SE (Netherlands), Nokia (Finland), Harris Corporation (US), Huawei Technologies Co. Ltd. (China), Bittium Corporation (Finland), Samsung Electronics Co. Ltd. (South Korea), AT&T, Inc. (US), ZTE Corporation (China), Hytera Communications Corporation (China), and KT Corporation (South Korea)
The services segment of the PS-LTE market is projected to grow at the highest CAGR during the forecast period
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.
Emergency medical services application of Public safety-LTE market to grow at highest CAGR during the forecast period
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 preexisting conditions of patients to the EMS personnel by providing them access to their medical record databases and prescribed medicines.
PS-LTE market in North America is projected to grow at the highest CAGR from 2020 to 2025
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.