KUALA LUMPUR, June 15 (Bernama) -- Enterprise spend on private networks will reach US$10 billion globally by 2028; rising from US$1 billion in 2023, according to a new study from Juniper Research. (US$1=RM4.62)
In a statement, Juniper Research said the three verticals driving the market were identified as manufacturing (35 per cent); energy (20 per cent); and public services (16 per cent).
Private networks leverage cellular technologies to provide a closed network that can be fully managed by enterprises and it cannot be accessed by any cellular connection, except for those authorised by the network itself.
The manufacturing market demands more frictionless coordination of automated processes and devices, thus requiring high-levels of orchestration via software-defined networks.
This complexity means that manufacturing will be a key use case for the more rapid adoption of 5G private networks, due to its infrastructure supporting high-device density operations and ultra-low latency properties.
As network complexity increases, the report urges private network vendors to offer an ongoing managed service approach to enterprises, which will enable private network vendors to maintain a continuous relationship with their customers and benefit from recurring revenue.
The research also predicts that spectrum resource management will be the key determining factor in the quality of service provision to minimise network interference.
Therefore, network slicing will emerge as a key technology for vendors to ensure that high throughput to private network connections is guaranteed for end users.
-- BERNAMA
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