Private 5G enabling a new generation of industrial use cases

New research shows that Private 5G is a major growth area for service providers and systems integrators as enterprises accelerate their investment in that space.

 

Independent intelligence firm ABI Research has predicted that professional service revenues for Private 5G networks will grow globally from US$58 million in 2021 to US$5.8 billion in 2026. Deployments in oil and gas, mining and power plants, as well as in manufacturing and logistics, are leading the way in Private 5G innovation.

 

Rising service revenues highlight that providing enterprise-grade 5G is about more than supplying enterprises with connectivity, says Leo Gergs, Senior Analyst, 5G Markets at ABI Research: “The true value proposition for enterprise 5G does not lie in the connectivity technology itself, but rather in the applications that it enables,” he adds.

 

Camille Mendler, Chief Analyst with independent research firm Omdia, has been tracking enterprise attitudes to 5G. She agrees that the most exciting new developments in 5G are happening across a number of mainly industrial verticals where low latency and high performance really count.

 

“Private 5G is for where you need extraordinary levels of security or performance from data,” she commented. “It’s when you need a network with absolutely the lowest level of latency, because you’re running robots that are handling industrial processes, or pulling trains in mines. It’s for where connections cannot fail. A half hour delay unloading at a port backs up other traffic for hours, perhaps days. We’ve seen this happen in Folkestone in the UK recently. Private 5G suits that kind of application very well.”

 

Mendler has noted 5G innovation in manufacturing and retail as well, where the real time insights that 5G enables are leading to faster and better decision making: “Public safety is another application, where 5G can give you the 360 degree situational awareness you need to save lives,” she added. “You get this from 5G-driven sensors or cameras. Private 5G gives you that added degree of control. As a business, what would you do with 360 degree awareness? What would that enable for you? It’s this kind of potential that explains why it is growing at the pace it is.”

 

These links will be of interest to stakeholders in Private 5G.

 

From Samsung.

 

From Ericsson.

 

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Book of the Month*

The Serendipity Mindset: The Art and Science of Creating Good Luck

By Dr Christian Busch
Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

Chance encounters, or strokes of fortune, feature in countless stories of business success. This book looks beneath the surface, reveals and teaches the mindset that can transform pure chance into opportunity. The author is director of the Global Economy Program at New York University’s Center for Global Affairs, and a lecturer at the London School of Economics.

Serendipity is an aptitude for making desirable discoveries by accident. To other people it looks like “good luck”, but it is more the ability to recognise and seize an opportunity, rather than have good fortune thrust upon one. Finding a wallet stuffed with money on the conference room floor is good luck, whereas holding it up and asking if anyone has lost their wallet might be the beginning of a valuable friendship – that would be serendipity.

The author says “This is a book about the interactions of coincidence, human ambition and imagination”. In the above example: finding the wallet is the coincidence; ambition is the desire to make something of the discovery; add imagination and you open up a whole menu of possibilities: from spending spree to earning a reputation for honesty – or even making a wealthy friend.

Business is typically forged on human ambition and imagination, but early success often feeds an appetite for control – and “control freaks” can be blind to the opportunities thrown up by the unexpected. They only see chance events as distractions. If plans go awry, they may blame the failure on “bad luck” rather than admit their own inflexible attitude.

The author himself admits to being “a German who is used to planning” and prone to feel anxious when something unexpected happens. That makes him an ideal teacher, because he has worked hard to discover and analyse the mindset that enables one to “connect the dots” and cultivate serendipity. He presents a goldmine of examples from science, business and life where an apparent mishap or failure lead to a breakthrough.

Indeed, studies suggest that around 50% of major scientific breakthroughs emerge as the result of accidents or coincidences. A well-known example is Alexander Fleming’s discovery of penicillin, launching the whole field of antibiotics. Other examples include X-rays, nylon, microwave ovens, rubber, Velcro, Viagra and Post-it Notes – where would we be without these!

The book goes beyond the ability to recognise and respond to opportunities in chaos, but the subtitle – The Art and Science of Creating Good Luck – is actually a bit misleading. True, he does show ways to develop better fortune, but it would be better to call it “inviting” or “encouraging” good luck. For example, he suggests better ways to start a conversation with a stranger – ways that will make it more likely to lead to chance connections or shared interests.

The publishers may have chosen the word “creating” to make the book appeal to the human desire to control – for control freaks are exactly the readership that would benefit the most from this book’s wisdom and practical advice.

For the rest of us, it offers a great way to rediscover the sense of play that is so important in life – and too often lost in business.

 

“Following the success of The Serendipity Mindset hardback, a paperback edition has also now been launched under the title “Connect the Dots”.

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