In 2030, Manufacturing and Industrial Facilities Will Have Over 49 Million 5G Connections, Generating US$2.4 Billion in Connections Revenue for Suppliers
“Progressive advancements to network performance (from Wi-Fi to Long Term Evolution (LTE), and from LTE to 5G) can underpin improvements to customers’ operations. But to maximize the benefits to their operations, customers will need to invest in ancillary technologies, such as edge networking, data management, and data analytics, to accelerate data collection and create a digital thread,” says Michael Larner, Industrial and Manufacturing Research Director at ABI Research.
However, a lack of 5G industrial devices has stalled manufacturers’ interest in 5G private wireless. In turn, the lack of enthusiasm has discouraged hardware suppliers from creating the necessary devices. As a result of the state of flux, equipment vendors, such as Nokia, have launched converged devices supporting Wi-Fi, LTE, and 5G connectivity.
Suppliers need to showcase the attributes of a 5G network and prove how a 5G network can upgrade operations. “The lack of 5G devices is a genuine drag on adoption, but suppliers (telcos such as Nokia, Ericsson, NTT), Information Technology (IT) providers (HPE, DXC, Dell Technologies), Operational Technology (OT) specialists (Bosch, Siemens, Honeywell) and System Integrators (SIs) such as Accenture and Deloitte) should be working with prospective customers to educate them today about 5G’s potential,” Larner concludes.
These findings are from ABI Research’s 5G Private Wireless in Manufacturing market update report. This report is part of the company’s Industrial and Manufacturing research service, which includes research, data, and ABI Insights. Depicted in a PowerPoint format, the Market Update provides a snapshot into current and future market opportunities and threats for a specific technology and focuses on a selected key market and associated trends.
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