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Publishing News and Press Releases

Ultra Reliable Low Latency Communication Market Size Was Valued at $20.4 Billion by 2026

(Publishing-NewsWire.com, September 27, 2021 ) Ultra Reliable Low Latency Communication Market size was valued at $20.4 billion by 2026 and it is estimated to grow at a CAGR 34.5% during 2021-2026. Increasing penetration of Industry 4.0 enabling data transmission between smart connected devices for real-time quality control of mission critical applications has significantly triggered the market. Ultra reliable low latency communication provides wireless connectivity to meet the demand for high speed M2M (machine-to-machine) communication in connected factories and thus accelerating the adoption. With the advanced capabilities and benefits such as higher data transmission speed, expanded bandwidth, low latency and higher reliability for critical applications such as process automation, driving assistance, automated guided vehicle (AGV), remote diagnosis the demand for URLLC has gained a huge traction. Additionally, the penetration of wireless 5G connection for optimizing mission critical applications is also set to stimulate the Ultra Reliable Low Latency Communication Market growth during the forecast period 2021-2026.



Ultra Reliable Low Latency Communication Market Segment Analysis- By Application

By application, Ultra Reliable Low Latency Communication Market has been segmented under Industrial automation, remote diagnosis/surgery, autonomous driving, traffic management,smart grid, smart office buildings and others. Industrial automation is estimated to dominate the market acquiring a market share of 20.7% by 2026. Industrial automation is also analyzed to be the fastest growing market with a CAGR 38.2% between 2021 and 2026 owing to increasing demand for high speed wireless connectivity for integrating digital technologies with operational processes. In mining industries, low latency and high reliability are crucial for daily operations and safety. Thus, demand for Ultra reliable low latency communication in mining sectors is estimated to gain a huge traction owing to mission critical applications such as man-down detection, remote control of machines and vehicles and smart ventilation. In commercial sector, ultra reliable low latency communication provides next generation office environment implementing distributed, virtualized and smart workflows to track and manage all of the assets and resources in global IoT ecosystem. In October 2020, Steelcase and Ericsson collaborated to create smart office infrastructure to provide inter-connected solutions for real-time applications leveraging wireless cellular 5G URLLC. In Healthcare sector ultra-reliable low latency communication is analyzed to enable Tele-operated robotic surgery via wireless cellular 5G network. Such smart innovations are estimated to drive the market during 2021-2026.



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Ultra Reliable Low Latency Communication Market Segment Analysis- By End User

By end user, Ultra Reliable Low Latency Communication Market has been segmented under industrial and commercial sectors. Industrial segment is estimated to account for the largest market share of 56.5% by 2026. Among industrial sector, Automotive industry is estimated to witness a significant growth with a CAGR 30.1% during 2021-2026 owing to the increasing adoption of URLLC to establish a high speed network connection for collaborative robots, also known as cobots or machine-to-machine communication to increase mobility and flexibility in production and assembly lines to meet the critical demands of automotive production. In January 2020, Ericsson and Audi announced the successful testing of 5G ultra reliable low latency communication capabilities by building a robot cell similar to those operating at Audi factory to significantly maximize the efficiency over wireless 5G URLLC. In February 2020, Ericson collaborated with SICK and Audi to enable safe human-robot collaboration for automated guided vehicles (AGV) by using 5G URLLC. Utility sector is analyzed to be the fastest-growing market during the forecast period 2021-2026 with a CAGR 41.2% owing to growing demand for digitalization of power distribution networks to support real-time control and decision making. In November 2018, Ericsson launched SOGNO (Service Oriented Grid for the Network of the Future) initiatives with utility companies to establish 5G ultra reliable low latency communication which can support robust and reliable real-time power distribution automation services. Such initiatives and developments are estimated to propel the market growth during 2021-2026.



Ultra Reliable Low Latency Communication Market Segment Analysis- By Geography

Ultra Reliable Low Latency Communication Market has been segmented under North America, Europe, APAC, South America and RoW. APAC is estimated to be the fastest growing market with CAGR 36.9% during 2021-2026. South Korea, being the world’s largest 5G market has contributed to the growth of URLLC market in this region. For instance, Ericsson and SK Telecom together are providing “5G with Precision” in South Korea to maximize the potentials of 5G services and thus accelerating the growth of the market. In May 2019, Telstra has developed strategic partnership with Ericson to expand 5G footprint across multiple cities in Australia and thus, has contributed to the growth of the market. South East Asia is estimated to be the hot-zone for establishing modern smart manufacturing hubs during the forecast period. Smart Advanced Manufacturing and Rapid Transportation Hub (SAMRATH) - Udyog Bharat 4.0 is an Indian Government initiative to transform Indian manufacturing sector to an “Intelligent Manufacturing Hub”. Such Government initiatives to deploy smart technologies into manufacturing industries are analyzed to drive the market in this region. In November 2020, ABB Thailand and Ericsson Thailand announced their partnership to expand wireless cellular ultra-reliable low latency communication as a part of industry 4.0. In China, Port of Qingdao is being transformed from manually operated harbor to smart 5G enabled harbor by leveraging wireless ultra-reliable low latency communication. Such developments are analyzed to drive the market during 2021-2026.



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Ultra Reliable Low Latency Communication Market Drivers

Increasing Penetration of smart factories

Increasing adoption of IIoTs for integration of IT into OT for optimization of mission critical applications across various industry verticals is driving the market. Adoption of industry 4.0 in various industry to enable the smart connected devices to streamline process flows over a wireless and reliable communication network is boosting the market owing to its robust processing performance. Increasing investments towards digitalization across various process and discrete industries to monitor and control real-time data for M2M communications to optimize production yield, efficiency and quality have resulted into the growth of the market. In June 2020, Amazon Web Services announced the launch of Snowcone edge device, capable to run on 5G network to deliver ultra-reliable low latency communication in industrial environment. Such innovations are set to drive the market during the forecast period 2021-2026.



Increasing adoption of wireless M2M communication technology

Traditional wired systems in industries require physical cabling between machines, which need to go through hazardous areas and may connect to moving parts, increasing the need for maintenance and risk of failure. On the other hand, the fixed infrastructure of wired system cannot be configured easily to make more efficient use of machinery or to adapt to changing demand. Moreover, wired technologies require more administrative costs to install wiring system throughout the factory. These drawbacks of wired system are accelerating the adoption of wireless technologies. The increasing penetration of 5G core network based on service based architecture (SBA) enabling more flexible developments of new services is propelling the growth of Ultra Reliable Low Latency Communication Market. The wireless technology of ultra-reliable low latency communication reduces un-planned downtime and increases lifecycle of machines through efficient predictive maintenance. Such benefits are anticipated to boost the market growth during forecast period 2021-2026. In July 2020, Ericsson and TDC NET announced to deploy 5G technology at Grundfos Denmark plant to replace wired connections with a dedicated wireless cellular connection as a part of industry 4.0. Such technological advancements are anticipated to drive the market during 2021-2026.



Ultra reliable low latency Communication Market Challenges

Government restrictions on deployment of 5G

Many counties and cities have banned or halted the adoption of 5G due to its adverse effects on health. To protect the public health and local environment, stringent policies have been made to stop endorsement of the roll out of 5G. In March 2019, City Officials of USA Portland Oregan have stated clear opposition to the installation of 5G networks due to adverse health effect supported by Mayor and two Commissioners. Many Towns and cities in UK such as Brussels, Glastonbury, Frome have halted adoption of 5G networks due to health concerns. Such Government restrictions on deployment of 5G network is analyzed to hinder the market growth during 2021-2026.



Ultra Reliable Low Latency Communication Market Landscape

Technology launches, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in Ultra reliable low latency market. In 2020, the market of Ultra Reliable Low Latency Communication industry outlook has been fragmented by several companies. Ultra reliable low latency top 10 companies include Huawei Technologies Co. Ltd., NTT Docomo Inc., ABB Ltd., Telstra Corporation Limited, Nokia Corporation, Qualcomm Inc., Intel Corporation, Telefonaktiebolaget LM Ericsson, AT&T Inc., Verizon Communications Inc. and others.



Acquisitions/Technology Launches

In August 2020, Ericsson announced to deploy 25,000 5G capable base stations in Russia leveraging ultra-reliable low latency communication.

In July 2020, Nokia launched first commercial 5G standalone private wireless solutions for industrial use cases to fulfill mission critical demands for low latency and high speed data transmission.



Key Takeaways

Utility sector is estimated to witness the highest growth with a CAGR 41.2% during 2021-2026 owing to the increasing adoption of digitalization in this sector.

APAC is estimated to dominate the market during 2021-2026 owing to rapid deployment of 5G network in this region.

Accelerated adoption of industry 4.0 and growing demand for wireless communicationis anticipated to stimulate the market during the forecast period 2021-2026.

Government restrictions on deployment of 5G network is anticipated to hinder the market growth during the forecast period 2021-2026.

Ultra reliable low latency communications have a wide range of mission critical applications such as smart grids, industrial digitalization, intelligent traffic systems and others.



Related Reports:

A. Military Communications Market

https://www.industryarc.com/Research/Military-Communications-Market-Research-500573



B. Machine To Machine Communication Market

https://www.industryarc.com/Report/15027/machine-to-machine-communication-market.html



For more Information and Communications Technology Market reports, please click here



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IndustryARC

Venkat Reddy

(+1) 970-236-3677

venkat@industryarc.com

Source: EmailWire.Com

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