Report: 5G connections in manufacturing to reach $10.8B by 2030.
An analysis report from ABI Research predicts that the market for 5G cellular connections in manufacturing will reach $10.8 billion by 2030, at a compound annual growth rate of 187%. "But, to capture the value at stake, ecosystem stakeholders will first need to evaluate how to measure the impact of 5G and edge deployments," says Don Alusha, Senior Analyst at ABI Research.
With greater reliability and data speeds that will surpass those of 4G networks, a combination of 5G and local edge compute will pave the way for new business value. Commercial benefits will accrue along three broad aspects: agility and process optimization: better and more efficient quality assurance and productivity improvement. "The implications for solution providers such as Ericsson, Huawei, Nokia and ZTE are that they must enhance their "value add" by complementing their deep technical expertise with business expertise including vertical industry knowledge, new functional expertise (sales, marketing, and accounting) and solution design and consulting expertise tailored at niche use cases," Alusha said.
These findings are from ABI Research's 5G and Edge Networks in Manufacturing application analysis report. This report is part of the company's 5G Core & Edge Networks research service, which includes research, data, and ABI Insights.
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|Title Annotation:||INDUSTRY REPORT|
|Date:||Apr 1, 2020|
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