The “Public Safety LTE & 5G Market ” 2022-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period.
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.
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According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3%. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
According to data from the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, the goods and services deficit increased by $1.9 billion from $68.7 billion in January 2023 to $70.5 billion in February. The increase in the goods and services deficit in February was due to a $2.7 billion increase in the goods deficit to $93.0 billion and a $0.8 billion increase in the services surplus to $22.4 billion. Compared to the same period in 2022, the goods and services deficit has dropped this year by $35.5 billion, or 20.3 percent. $49.5 billion or 10.8% more was exported. 2.2% or $14.0 billion more was spent on imports.
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.
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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 the reluctancy for transition 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.
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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.
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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.
Competitive Landscape
Major players in the global public safety LTE & 5G market include Cisco Systems, Inc., BAE Systems, BEC Technologies, 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 among others.
Introduction of new and advanced product line along with mergers and partnership with key players are some of the major contributing factors for the dominance of major players in the global market. For instance, in June 2021, Cisco unveiled a new line of catalyst industrial routers with the flexibility, security, and scalability required for the success of the Internet of Things. Also, IBM Corporation, an American information technology company, provides integrated solutions and products by leveraging technology, data, and deep expertise in industries and business processes.
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?
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