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In 2030, Manufacturing and Industrial Facilities Will Have Over 49 Million 5G Connections, Generating US$2.4 Billion in Connections Revenue for Suppliers
Friday, August 26, 2022
The manufacturing and industrial sector is slowly realizing that 5G Private Networks are essential for automation, robotics, and Augmented reality
NEW YORK, Aug. 18, 2022 /PRNewswire/ -- Network upgrades can underpin the efforts of manufacturers to automate quality assurance (QA) processes, deploy Autonomous Mobile Robots (AMRs) inside the facility, and upskill employees with the use of Augmented Reality. Lower latency and support for Time-Sensitive Networking (TSN) afforded by a 5G network can further enable wireless process automation for robotics use cases and increase bandwidth support for data-heavy applications, such as video analytics. According to new research from global technology intelligence firm ABI Research, in 2030, manufacturing and industrial firms worldwide will have more than 49 million 5G connections inside their facilities, which will generate US$2.4 billion in global 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 as well as focusing on a selected key market and associated trends.
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About ABI ResearchABI Research is a global technology intelligence firm delivering actionable research and strategic guidance to technology leaders, innovators, and decision makers around the world. Our research focuses on the transformative technologies that are dramatically reshaping industries, economies, and workforces today.
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For more information about ABI Research's services, contact us at +1.516.624.2500 in the Americas, +44.203.326.0140 in Europe, +65.6592.0290 in Asia-Pacific, or visit www.abiresearch.com.
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SOURCE ABI Research
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