This is a remarkable verse, in the first place, because suddenly the people of Israel enter the picture. In the second place, it is remarkable because four different names are being used for God’s people: his people, his saints, the children of Israel, and the people who are near to the Lord.
To raise up a horn,
which is the literal translation of Psalm 148:14a, is to show power and prosperity. This brings to mind an animal with horns, strong and with its head raised, awaiting the enemy. That is so imposing that an attack is avoided. This is what God does with his people and that is why the people are praised because of their God. The fitting ending of the psalm is the call to praise the Lord.
14 He has raised up a horn for his people, praise for all his saints, for the people of Israel who are near to him. Praise the LORD!