LTE for Critical Communication Market Share, Assumptions & Limitations By Forecast To 2020 to 2027
A New Study Title “LTE for Critical Communication Market Size, Status And Forecast 2027” Has Been Featured On Market Research Future.
Long-term evolution (LTE) is a wireless broadband technology able to provide internet services for latest smartphones and consumer electronic devices. Its improvement over various communication standards and wider spectrum range for operations has expanded its scope for critical applications. The global LTE for critical communication market analysis in its latest report by Market Research Future (MRFR) contains a 360 degree perspective on the ups and downs on LTE spectrum licenses, evolution of broadband, and various challenges and drivers for the period of 2020 to 2027 (forecast period). The COVID-19 impact and the disruptions in operations are explored in detail in the report.
The global LTE for critical communication market is expected to generate market revenue o USD 13 billion by 2023. It is estimated to showcase a CAGR of 17% during the forecast period.
The changing scenario of work and daily life globally and the integration of terrestrial trunked radio (TETRA) and LTE protocols in latest communication devices can drive market demand during the forecast period. The ability to communicate at a faster pace over wireless broadband networks for professionals working in fields of healthcare, oil & gas, and law enforcement can induce the demand for LTE. Development of LTE coverage sites for expanding the range of cellular communication can bode well for the market. The lack of development in rural areas can provide a plethora of opportunities for players looking to break into critical communication niche.
The demand for a private LTE network by various organizations for protecting their assets can also trigger the need in the global LTE for critical communication market. Companies are providing network infrastructure and technology to service providers in order to offer secure and resilient cellular activity to public safety agencies. The deployment of sensors, robots, drones, and augmented reality to enhance the communication experience and expand the scope for meeting various environment challenges can be estimated to impact the market growth.
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The global LTE for critical communication market is segmented on the basis of component, technology, end users, and region. The component segment is sub-segmented into hardware, software, and solutions. By technology, it is segmented into P25, terrestrial trunked radio (TETRA), digital mobile radio, LTE-Advanced, and others. Major end users of the market are oil & gas, IT & telecommunication, utilities, government & defense, aerospace, transportation, and others.
The regional analysis of LTE for critical communication market is being studied for regions such as Asia Pacific (APAC), North America, Europe, and Rest-of-the-World (RoW).
North America is one of the leading regions across the world in terms of market share owing to huge demand due to its future requirements for voice, status, text, location, picture, and video transmission for public safety. Adoption of latest communication protocols and procurement of latest consumer electronic devices can drive regional market demand.
The LTE for critical communication market in Europe region is expected to witness a rapid growth in the forthcoming period. Whereas, APAC countries such as China, Japan and India are an emerging market for the LTE for critical communication market and is expected to reflect the highest CAGR in the coming years. Enforcement of communication protocols such as LTE and 5G New Radio (NR) and establishment of new standards by the 3GPP for delivering a reliable public safety communications platform can lead to heavy investments by manufacturers.
Ericsson, Softil Ltd., Sepura plc., Huawei Technologies Co. Ltd., Teltronic S.A., Qualcomm Technologies Inc., Rohill Technologies B.V., Nokia Corporation, Samsung Group, Motorola, Inc., and Telstra Corporation Ltd are key players of the global LTE for critical communication market. Partnerships between public and private firms are likely to be witnessed in the coming years. For instance, the New Zealand police department has been utilizing the 5G NR network of Vodafone for submitting real-time video feeds and sharing it with the command center.
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