The Business Research Company’s report on the Ultra-Reliable Low Latency Communications (URLLC) Market provides insights into the global market size, growth rate, regional distribution, competitive landscape, key segments, emerging trends, and strategic opportunities.
How have key drivers contributed to the rapid growth of the ultra-reliable low latency communications (urllc) market?
Increasing adoption of digitalization is expected to propel the growth of the ultra-reliable low latency communications (URLLC) market going forward. Digitalization refers to the transformation of information, data, or physical assets into digital formats that can be efficiently processed, stored, and transmitted by computers. The increasing adoption of digitalization is due to the need for enhanced efficiency, innovation, and competitiveness in an increasingly interconnected world. Ultra-reliable low latency communications (URLLC) empower digitalization by enabling real-time data exchange, enhancing automation, and supporting mission-critical applications with minimal latency and maximum reliability. For instance, in February 2024, according to the Department for Science, Innovation and Technology, a UK-based government department, provisional estimates for 2022 showed that the digital sector contributed $163 billion to the UK economy, making up 7.2% of the total gross value added (GVA), a slight increase from 7.1% in 2021. Therefore, the increasing adoption of digitalization is driving the growth of the ultra-reliable low-latency communications (URLLC) market.
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How has the ultra-reliable low latency communications (urllc) market size evolved, and what are the latest forecasts for its expansion?
The ultra-reliable low latency communications (URLLC) market size has grown exponentially in recent years. It will grow from $12.76 billion in 2024 to $16.86 billion in 2025 at a compound annual growth rate (CAGR) of 32.1%. The growth in the historic period can be attributed to increasing penetration of smartphones, growing uptake of 5G technology, growing industrial automation, growing smart healthcare systems, and rising demand for augmented reality applications.
The ultra-reliable low latency communications (URLLC) market size is expected to see exponential growth in the next few years. It will grow to $50.85 billion in 2029 at a compound annual growth rate (CAGR) of 31.8%. The growth in the forecast period can be attributed to increasing adoption of digitalization, increasing commercialization of 5G services, growing demand for high-speed data connectivity, growing need for enhanced broadband capacity, and increasing adoption of IoT devices. Major trends in the forecast period include strategic collaboration, private wireless solutions, technological innovation, edge computing, and integration of artificial intelligence.
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Which major companies dominate the ultra-reliable low latency communications (urllc) market?
Major companies operating in the ultra-reliable low latency communications (URLLC) market are Samsung Electronics Co. Ltd., China Mobile Limited, Verizon Communications Inc., Deutsche Telekom AG, Huawei Technologies Co. Ltd., Intel Corporation, Orange S.A., Qualcomm Incorporated, Telefonica S.A., Vodafone Group Plc, ABB Ltd., Telefonaktiebolaget LM Ericsson, Nokia Corporation, NEC Corporation, Thales Group, KT Corporation, ZTE Corporation, T-Mobile US Inc., Telit Communications plc, Sierra Wireless Inc.
What trends will shape the future of the ultra-fast ev charging dispensers market?
Major companies operating in the ultra-reliable low latency communications (URLLC) market are focusing on innovative technologies, such as module stock-keeping units (SKUs), to enhance connectivity solutions for mission-critical applications. A module stock-keeping unit (SKU) refers to a unique identifier assigned to a specific version or configuration of a product module for inventory and sales tracking. For instance, in March 2022, Telit Cinterion, a UK-based communication device company, introduced its new 5G M.2 modules, powered by Snapdragon X65 and X62 modem-RF systems. It supports 3GPP Release 16 features such as ultra-reliable low-latency communication (URLLC). These modules are designed for industrial applications such as smart manufacturing, telemedicine, and private 5G networks, offering LTE and WCDMA fallback with advanced carrier aggregation (up to 200 MHz, 3CC CA). They integrate dual-frequency GNSS for precise location and simplify IoT product design with Telit IoT AppZone, reducing complexity and costs. These modules enable high-speed, low-latency, and reliable connectivity for mission-critical and bandwidth-intensive use cases.
Which region dominates the ultra-reliable low latency communications (urllc) market, and what factors contribute to its leadership?
Asia-Pacific was the largest region in the ultra-reliable low latency communications (URLLC) market in 2024. The regions covered in the ultra-reliable low latency communications (URLLC) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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How is the ultra-reliable low latency communications (urllc) market segmented, and which segment holds the largest share?
The ultra-reliable low latency communications (URLLC) market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Technology: 5G Networks, Edge Computing
3) By Deployment Mode: On-Premise, Cloud-Based
4) By Application: Industrial Automation, Remote Diagnosis, Telesurgery, Autonomous Driving, Traffic Management, Smart Grid, Smart Office Buildings, Other Applications
5) By End-User: Telecommunications, Manufacturing, Transportation, Healthcare, Other End-Users
Subsegments:
1) By Hardware: URLLC-Enabled Network Equipment, Edge Computing Devices, 5G Base Stations
2) By Software: URLLC Protocol Stacks, Network Slicing Software, Latency Optimization Algorithms
3) By Services: Network Deployment And Integration Services, Managed URLLC Services, Support And Maintenance Services
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How is the ultra-reliable low latency communications (urllc) market defined?
Ultra-reliable low-latency communications (URLLC) refers to a high-performance 5G service category designed to deliver extremely reliable data transmission with minimal latency, typically under 1 millisecond. It is crucial for mission-critical applications such as autonomous vehicles, industrial automation, and remote surgeries, ensuring seamless and real-time communication.
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