What Fueled The Previous Growth In The UltraReliable Low Latency Communications URLLC Market?
The ultrareliable low latency communications urllc market has seen considerable growth due to a variety of factors.
• In the past few years, the ultra-reliable low latency communications (URLLC) market has seen substantial expansion. The market is forecasted to increase from $12.76 billion in 2024 to $16.86 billion in 2025, which signifies a compound annual growth rate (CAGR) of 32.1%.
Factors contributing to the expansion during this period include growing smartphone usage, the increasing adoption of 5G technology, rising industrial automation, advancement in smart healthcare systems, and higher demand for augmented reality applications.
How Does the Forecast Look for the UltraReliable Low Latency Communications URLLC Market?
The ultrareliable low latency communications urllc market is expected to maintain its strong growth trajectory in upcoming years.
• The market for ultra-reliable low latency communications (URLLC) is anticipated to witness a significant exponential surge in the upcoming years. The market is projected to climb to a value of $50.85 billion by 2029, with an impressive compound annual growth rate (CAGR) of 31.8%.
Aspects contributing to this growth in the predicted timeframe are rising digitalization, escalating commercialization of 5G services, increasing demand for rapid data connectivity, growing necessity for improved broadband capacity, and heightened adoption of IoT devices. The upcoming forecast period is expected to see principal trends such as strategic partnerships, private wireless solutions, technological advancements, edge computing, and the incorporation of artificial intelligence.
What Are The Leading Drivers Of Growth In The UltraReliable Low Latency Communications URLLC Market?
The growth of the ultra-reliable low latency communications (URLLC) market is expected to be fueled by the increasing embrace of digitalization. Digitalization, which involves translating data, information, and physical assets into digital formats for efficient processing, storage, and transmission by computers, is growing in popularity. This is attributed to the quest for improved efficiency, innovation, and competitiveness in a world that's rapidly becoming interconnected. Ultra-reliable low latency communications (URLLC) facilitate digitalization as they allow for real-time data exchange, promote automation, and back mission-critical applications with negligible latency and unparalleled reliability. For example, in February 2024, provisional estimates for 2022 put forward by the UK-based Department for Science, Innovation and Technology, reported that the digital sector had contributed $163 billion to the UK economy, representing 7.2% of the total gross value added (GVA) - a slight increase from 7.1% in 2021. Consequently, this surge in the adoption of digitalization is spearheading the growth of the ultra-reliable low-latency communications (URLLC) market.
How Are The Segments Defined Within The Global UltraReliable Low Latency Communications URLLC Market?
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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What New Trends Are Influencing The UltraReliable Low Latency Communications URLLC 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.
Who Are the Key Players In The UltraReliable 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 Is The Most Dominant Region In The UltraReliable Low Latency Communications URLLC Market?
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.
