According to a report of GlobalData commissioned by Nokia, 93 per cent of the early adopters have achieved return on investment (RoI) on private wireless networks within 12 months.
The report stated that 100 per cent surveyed enterprises have started rolling out private wireless networks to more locations or have expanded their use at the initially deployed locations for driving a wider industrial transformation and for benefits such as quickly achieving RoI, improved workers’ safety and sustainability.
As per the report, 78 per cent of the respondents reported that they achieved a positive outcome within six months, and 23 per cent hit their RoI target in just one month.
It stated that many enterprises that had deployed private wireless technology were still at proof of concept (POC) or pilot stage, usually in a single location or single use case. In 2024, 45 per cent enterprises interviewed are taking advantage of private wireless networks with plans to do more than initially expected.
The report highlighted that private wireless solutions have helped businesses achieve such returns by fixing broken processes and reducing the overall cost of doing business.
Further, it added that these private wireless network-driven use cases are underpinned by edge technology, and 39 per cent surveyed enterprises that deployed private wireless have since implemented an on-premises edge technology or a new selection of industrial devices to power digitalisation and support complimentary technologies such as artificial intelligence (AI) and analytics, with a further 52 per cent planning to do so.
In addition, introduction of video analytics to a private wireless network alongside edge- compute resources enabled 75 per cent businesses to improve efficiency by 10 per cent.
Furthermore, the report survey was conducted among private wireless early adopters across manufacturing, transportation, and energy industries in countries including Australia, France, Japan, UK, and US.
