Austin, July 22, 2024 (GLOBE NEWSWIRE) -- The LTE & 5G for Critical Communications Market Size was USD 7.81 billion in 2023. The Market will grow to USD 21.72 billion by the year 2032, it is Anticipated, That the Market will Advance With a 12.05% CAGR During the Forecast Period.
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The LTE & 5G for critical communications market is rapidly growing as LTE and 5G technologies are actively used in public safety and emergency. For instance, LTE's capabilities are leveraged for applications such as video surveillance and real-time location tracking, while 5G's advanced features support autonomous vehicles and augmented reality in emergency scenarios. According to SNS Telecom & IT, the revenue from the combined global market for public and private LTE & 5G for critical communications will be worth $5.5 billion by the end of 2026. It represents 17% per annum and 57% growth on a compound basis, from $3.4 billion at the end of 2023. This is from both the two reports and from the single combined report across the 5,000 pages it provides for sale.
The market seems to have growing opportunities as government and public safety organizations invest in new communication infrastructure. Technologies such as LTE and 5G help to decrease the response time and coordinate the efforts of various emergency responders. Video surveillance and real-time monitoring of vehicles and their location with the help of LTE and other technologies are evidence of such improvements. At the same time, 5G is used to ensure instant communication between autonomous cars as it makes augmented reality a normal component of emergencies.
LTE & 5G for Critical Communications Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 7.81 Billion |
| Market Size by 2032 | USD 21.72 billion |
| CAGR | 12.05% by 2024-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Growth Drivers |
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Segment Analysis:
Technology Segment:
The LTE segment dominates the market with a market share of 55% in 2023, due to its established infrastructure, extensive network coverage, and cost-effectiveness. However, the 5G segment is expected to witness the fastest growth rate due to its superior capabilities in terms of speed, latency, and network capacity.
Application Segment:
The public safety segments hold the largest market share of 48% in 2023. The major factor contributing to the growth of the segment includes the critical need for communication requirements, during emergency response, disaster management, or law enforcement operations, a reliable connection is a major necessity.
The transportation and utilities segment is also expected to experience major market growth during 2024-2032, the influence can be attributed to the rapid investment in connected infrastructure and smart cities strategy.
Regional Development:
North America dominated the LTE & 5G critical communications market in 2023 with a market share of 37.00%. The region has acquired advanced communication technologies earlier and has significantly invested in its infrastructure. This area is ahead of others in its developed approach to improving public safety, including government regulations aimed at protecting citizens and the high degree of technological readiness of the region.
The Asia-Pacific showed a faster growth rate and rapid CAGR during the forecast period. The process is driven by increasing urbanization, technological progress, and the high demand for enhanced communication channels in developing countries. Besides, the further expansion of 5G coverage and the growing importance of smart city concepts facilitate the market’s increase in speed in this area of the world.
Recent Developments:
- In January 2024, Sasken Technologies announced the introduction of LTE-based MSE which was intended to facilitate mission-critical communications both in the states of emergency and during regular operations. It has several features that are suitable for various kinds of services, such as base calls, call, and radio access, supplementary calls, control of communications records, accounting, etc. Fax, voice, messages, the transmission of a broad spectrum of data, and other services are applicable as well.
- In May 2024, GCT Semiconductor introduced the first highly integrated multi-mode LTE chipset. The technology is available through all categories, from Cat 4 to Cat 1bis, from Cat-M1 to Cat NB1/NB2. It is compatible across the globe and is mostly used within privately operated mission-critical infrastructures.
- In March 2024, Ericsson introduced a new critical communications solution that relies on both LTE and 5G. The solution includes such features as network slicing, edge computing, and others.
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Key Takeaways
- The report provides information about the opportunities and drivers of the LTE & 5G for the critical communications market.
- This report provides the latest products of LTE and 5G to access potential and market trends.
- Understanding the application increase of these products helps, in knowing the market growth of specific regional markets.
- This report provides the future concept of growth and technology that helps prepare for prospects and technology.
Table of Contents – Major Key Points
1. Introduction
2. Industry Flowchart
3. Research Methodology
4. Market Dynamics
5. Porter’s 5 Forces Model
6. Pest Analysis
7. LTE & 5G for Critical Communications Market Segmentation, By Type
8. LTE & 5G for Critical Communications Market Segmentation, By Power Type
9. LTE & 5G for Critical Communications Market Segmentation, By End User
10. Regional Analysis
11. Company Profiles
12. Competitive Landscape
13. Use Case and Best Practices
14. Conclusion
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