Manufacturing will generate 25% of 5G revenue by 2028 Fiona Leake By Fiona Leake 21 January 2020 5G
Analysts at ABI Research have forecast that manufacturing will provide a significant percentage of revenue for the 5G Ultra Low Latency Use Cases market. 5G technology is perfectly placed to offer huge benefits in the manufacturing market, meaning businesses need to understand how to fully optimize the new network.
5G in the world of manufacturing
Unlike previous networks, 5G’s ultra-fast and reliable connectivity is the exact thing that manufacturing processes have been calling out for. The introduction of smart factories cries for better connectivity due to use of the Internet of Things, sensors and automated processes.
Real-time data sharing is vital in smart factories to keep track of everything, however, without 5G, systems cannot capture and sort the data coming from devices in smart factories.It is clear that 5G is set to play a huge role in multiple industries other than simply super-fast smartphones. For example, Samsung’s 5G is even being used in BMW’s new iNext car, which plans to utilize the technology to offer many smart features.However, if manufacturing plans to generate 25% of the low latency 5G market’s revenue, businesses and network providers need to be prepared.
The 5G learning curve
Mobile network operators need to take steps to target manufacturers if they wish to reap the benefits of potentially a huge market. As an initial first step, it would be a good idea for network operators to approach large Tier One manufacturers as they are more prepared to invest in new technology. Many manufacturers are already aware of the huge benefits 5G can bring to the workplace but they may be concerned about the requirements to install the new tech.
Network infrastructure vendors also have a job to do if manufacturing is to provide 25% of low latency 5G revenue. Pricing models need to be adjusted and package solutions offered to manufacturers.Lastly, manufacturers themselves need to consider automation and use cases for 5G on the factory floor.
They need to understand deployment and implications of 5G technology.Overall, 5G could offer some incredibly exciting benefits to manufacturers, allowing work to be fully automated, creating a safer and more efficient workplace environment. However, there is a steep learning curve that multiple parties need to adjust to before we could see 25% of 5G low latency revenue coming from manufacturing by 2028.Useful read: 5G how will businesses benefit?
Source: Fiona Leake. 5g.co.uk