The PS-LTE market is projected to grow at a CAGR of 20.2% from 2019 to 2024
NEW YORK, Jan. 1, 2020 /PRNewswire/ --
The PS-LTE market is projected to grow at a CAGR of 20.2% from 2019 to 2024.
The PS-LTE market is projected to grow from USD 4.7 billion in 2019 to USD 11.7 billion by 2024; it is expected to grow at a CAGR of 20.2% from 2019 to 2024. The adoption of LTE technology to eliminate the existing interconnectivity issues between different networks, increase in demand for unmanned vehicles globally, and seamless data connectivity offered by LTE technology are expected to drive the growth of the PS-LTE market during the forecast period. However, spectrum scarcity acts as a restraint for the PS-LTE market.
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The services segment of the PS-LTE market is projected to grow at the highest CAGR during the forecast period.
The growth of the services segment of the PS-LTE market can be attributed to the expectation that the PS-LTE services network would be deployed fully 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 development of PS-LTE networks in countries such as Australia, China, Qatar, the UAE, and the US is expected to generate the demand for managed and other professional services from network service providers of these countries.
The private LTE segment accounted for the largest size of the PS-LTE market in 2018.
In the private deployment model, the public safety agencies finance, procure, develop, and manage their networks, taking technical specifications for capacity, security, reliability, redundancy, and robustness of LTE networks into account.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.
Moreover, 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.
The public safety agencies segment to hold the largest size of the PS-LTE market from 2019 to 2024.
Public safety is one of the most important responsibilities of any government.It involves protecting individuals from crimes and natural disasters.
An effective public safety mechanism involves disaster management and coordination between organizations such as law enforcement & border control agencies, firefighters, and emergency medical services departments. Effective communication is imperative for these agencies during natural or man-made disasters.
The transport vertical comprises buses, trams, metros, railways, airplanes, etc.Communication plays a vital role in this vertical.
Communication systems are crucial for air transportation as they offer information about the arrival and departure of flights and are interoperated by the security personnel. These systems are also essential for coordinating and ensuring safe travel.
The PS-LTE market in North America is projected to grow at the highest CAGR during the forecast period.
The growth of the PS-LTE market in North America can be attributed to the increasing deployment of dedicated LTE networks for public safety personnel to provide them high-speed connectivity. The growth of the market in the US can be attributed to the increasing deployment of PS-LTE networks by First Responder Network Authority (FirstNet), an independent authority of NTIA that provides emergency responders with a nationwide, high-speed, broadband network dedicated to public safety.
In the process of determining and verifying the size for several segments and subsegments of the market gathered through the secondary research, extensive primary interviews were conducted with key industry experts in the PS-LTE marketspace. The break-up of primary participants for the report is as follows:
• By Company Type: Tier 1 – 55%, Tier 2 – 35%, and Tier 3 – 10%
• By Designation: C-level Executives – 72% and Directors – 28%
• By Region: North America – 45%, Europe – 22%, APAC – 26%, and RoW – 7%
The report profiles key players in the PS-LTE market with their respective market ranking analysis and benchmarking. Prominent players profiled in this report are Airbus SE (Netherlands), Motorola Solutions, Inc. (US), General Dynamics Corporation (US), Bittium Corporation (Finland), Nokia (Finland), Harris Corporation (US), ZTE Corporation (China), Huawei Technologies Co. Ltd. (China), Samsung Electronics Co. Ltd. (South Korea), AT&T, Inc. (US), Hytera Communications Corporation (China), and KT Corporation (South Korea).
Research Coverage:
This research report categorizes the PS-LTE market based on infrastructure & service, deployment model, application, end user, and region. It describes the major drivers, restraints, challenges, and opportunities pertaining to the PS-LTE market and forecasts the same till 2024.
Key Benefits of Buying the Report
The report is expected to help leaders/new entrants in the market in the following ways:
1. This report segments the PS-LTE market comprehensively and provides the closest market size projection for all segments and subsegments across different regions.
2. The report is expected to help stakeholders understand the pulse of the market and provide them with information on key drivers, restraints, challenges, and opportunities impacting the growth of the market.
3. The report aims at helping stakeholders understand the country-wise precise deployment of PS-LTE.
4. This report is expected to help stakeholders understand their competitors and gain insights to improve their position in the PST-LTE market. The competitive landscape section includes competitive leadership mapping, along with the key growth strategies adopted by major market players—product launches and developments, acquisitions, collaborations, and partnerships.
Read the full report: https://www.reportlinker.com/p05108759/?utm_source=PRN
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