What Is The Leading Driver Behind Increasing Adoption Of Digitalization Propels Market Growth Due To Enhanced Efficiency And Real-Time Data Exchange Market Expansion in 2025

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What Will the Ultra-Reliable Low Latency Communications (URLLC) Industry Market Size Be by 2025?
In recent years, the market size for ultra-reliable low latency communications (urllc) has experienced exponential growth. The market's expansion is expected to progress from worth $12.76 billion in 2024 to being valued at $16.75 billion in 2025, signifying a compound annual growth rate (CAGR) of 31.3%. This accelerated growth observed in recent years can chalk up to several factors including the increased adoption of smartphones, rising implementation of 5G technology, expanding industrial automation, development of smart healthcare systems, and the surge in demand for augmented reality applications.

What's the Long-Term Growth Forecast for the Ultra-Reliable Low Latency Communications (URLLC) Market Size Through 2029?
In the coming years, it is anticipated that the ultra-reliable low latency communications (urllc) market will experience a drastic surge in size, escalating to a value of $49.41 billion in 2029 with a compound annual growth rate (CAGR) of 31.1%. The growth predicted during this period can be credited to the rising engagement with digitalization, advancing commercialization of 5G services, increased demand for swift data connectivity, the need for broader broadband capacity, and more frequent use of IoT devices. Notable trends expected during this period consist of strategic alliances, private wireless solutions, technological advancements, edge computing, and the incorporation of artificial intelligence.

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What Are the Key Growth Drivers Fueling the Ultra-Reliable Low Latency Communications (URLLC) Market Expansion?
Digitalization's escalating adoption is projected to fuel the ultra-reliable low latency communications (URLLC) market's expansion. In essence, digitalization is the conversion of data, information, or physical assets into digital forms that computers can easily process, store, and transmit. This growing adoption stems from the desire for improved efficiency, innovation, and competitiveness in a world that is ever more linked. Digitalization gets a significant boost from ultra-reliable low-latency communications (URLLC) by facilitating real-time data transfers, advancing automation, and delivering mission-critical applications with minimal latency and maximum dependability. For example, in February 2024, the Department for Science, Innovation and Technology, a UK government department, provisionally estimated that the digital sector added $163 billion to the UK's economy in 2022, accounting for 7.2% of the total gross value added (GVA), marginally up from 7.1% in 2021. Consequently, the rising adoption of digitalization is propelling the ultra-reliable low-latency communications (URLLC) market's growth.

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What Are the Key Trends Driving Ultra-Reliable Low Latency Communications (URLLC) Market Growth?
In the ultra-reliable low latency communications (URLLC) market, key players are turning their attention to pioneering technologies like module stock-keeping units (SKUs) to advance connectivity solutions for applications that are critical to operations. Module SKUs are unique IDs assigned to specific versions or setups of a product module for inventory and sales monitoring purposes. For example, Telit Cinterion, a communication apparatus company based in the UK, launched its innovative 5G M.2 modules in March 2022, featuring Snapdragon X65 and X62 modem-RF systems. These are compatible with 3GPP Release 16 features, including URLLC. These modules, meant for industrial applications like smart manufacturing, telemedicine, and private 5G networks, provide LTE and WCDMA fallback with advanced carrier aggregation (up to 200 MHz, 3CC CA). They incorporate dual-frequency GNSS for accurate location determination and simplify IoT product design with Telit IoT AppZone, thereby lowering complexity and costs. These modules facilitate high-speed, low-latency, and dependable connectivity for use cases that are mission-critical and require substantial bandwidth.

How Is the Ultra-Reliable Low Latency Communications (URLLC) Market Segmented?
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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Which Companies Are Leading the Charge in Ultra-Reliable Low Latency Communications (URLLC) Market Innovation?
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.

Which Regions Are Leading the Global Ultra-Reliable Low Latency Communications (URLLC) Market in Revenue?
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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