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Frost & Sullivan’s recent analysis, 5G in Process Industries, finds that the limitations of 4G networks are enabling 5G technology to become an important ally for Industry 4.0. The high bandwidth and low latency provided by 5G networks are driving process industries to partner with strategic 5G providers. In addition to the organizational and economic benefits of industrial digitization, falling prices of technologies such as machine learning and Big Data analytics push manufacturers toward technological solutions that improve their quality and efficiency.
“Industry 4.0 and the industrial IoT (IIoT) are increasing the number of smart sensors at a manufacturing plant and enabling machine-to-machine communications,” said Marina Salaber, Research Analyst, Industrial Practice, Frost & Sullivan. “5G broadband’s capabilities enable connections to numerous devices and simultaneously process large masses of data, addressing the concern about the increasing requirement of data traffic that modern factories need.”
Salaber added: “High reliability allows businesses to incorporate automation processes that depend on the correct network operations. 5G, in this regard, surpasses the boundaries of digitization, allowing a dependency on network processes and protecting companies from high production costs and stoppages that connection dropouts cause.”
Market participants should focus on the following prospects:
• The pandemic pushed traditional face-to-face inspections toward virtual platforms. Advanced predictive maintenance is transforming risk management in all industry verticals.
• Manufacturers must partner with AI, 5G network, and data management software providers to achieve suitable energy management. They can also utilize cutting-edge software, such as ML and deep data analytics, to process the information collected and provide an end-to-end solution.
• A digital twin must ally with innovation in every operational process. It fosters growth opportunities for manufacturers by reducing financial inputs, shortening learning curves, and minimizing manpower.
• Autonomous and collaborative robots can increase the reliability and efficiency of production lines. Automated processes must produce higher-quality standards due to their higher standardization and precision levels.
Growth Opportunities for 5G in Process Industries is the latest addition to Frost & Sullivan’s Industrial Automation research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
About Frost & Sullivan
For over six decades, Frost & Sullivan (frost.com) has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion.
Growth Opportunities for 5G in Process Industries / K6EC-10
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