Enhancing customer experience tops the list of manufacturers’ goals for 2023. To meet escalating customer demands, these enterprises are taking steps, such as adding new services and products; expanding customization capabilities; offering multiple contact channels; and enabling remote, always-on services, portal-based ordering, and account access. Also high on the priority list of enterprises’ decision-makers are: improving operational efficiency, speed to market, employee productivity, and business agility. To meet these essential goals and remain competitive, businesses are turning to digitalization, investing in intelligent solutions that combine Industrial Internet-of-Things (IIoT), data analytics, artificial intelligence (AI), and cloud technologies.

To extend IoT access to different application types anywhere and anytime with higher return on investment (ROI), network infrastructure providers have invested in different options to connect and serve enterprise customers. This includes 5G networks, Voice over Long-Term Evolution (VoLTE), and Low-Power Wide-Area (LPWA). Network infrastructure providers developed their networks for cell phones but have expanded their capabilities to address the unique SIM requirements of IoT devices and applications.

5G is designed with the enterprise market in mind and provides new capabilities that no other networking technology can provide. All 5G mobile private networks (MPNs) will involve network infrastructure providers, regardless of the spectrum used. As the world rolls out 5G, it is a time of high growth for suppliers in the manufacturing vertical.

This growth opportunity analytics is part of Frost & Sullivan´s continued coverage of the Global IoT market. Frost & Sullivan expects that this analysis will provide the IoT ecosystem with valuable insights that will help IoT service providers increase revenue and identify new opportunities within this marketplace.

Author: Carina Goncalves