Remarkable progress in network infrastructure development has brightened the prospect for IoT adoption soon. IoT has the power to enable businesses to leverage data to make more informed business decisions, advance customer service and experience, improve workplace safety and security, increase productivity levels, and reduce operating costs.
In the face of an expanding range of challenges connected to global production and supply chain management issues, IoT can enable businesses to better manage the intricate webs of production, distribution, and delivery across global supply chains.
For 2023, we see a growing importance of private 5G networks and edge data, as well as more VR/AR use cases and an increased focus on sustainability efforts within the industry.
The rise of private 5G networks
The use of private 5G networks in industrial settings, such as manufacturing, where sensors and robotics are heavily used, will begin delivering on the promises of device connectivity, machine reconfigurability, and real-time data analysis. Increased use of private 5G will enable troves of new connected devices, collecting more data at the edge than ever before, in addition to broader adoption of IIoT-enabled solutions.
Private network deployments have seen growing interest recently. Allied Market Research expects the market in Southeast Asia to reach nearly US$2 billion by 2030, expanding at a CAGR of 41.9% from 2021 to 2030. 5G speed and mmWave wireless is allowing IoT and Industry 4.0 applications to reach their full potential.
With increased bandwidth, lower latency, and mobility from 5G, there will no longer be any “obvious” decisions for where to process workloads. IT professionals will have greater flexibility in designing networks that better suit their organisations’ changing needs. Bandwidth and physical constraints will no longer dictate business decisions as they have in previous years.
Growth of edge data
2023 will bring more opportunities for cloud and network convergence and force a rethinking of IT architectures, especially at the edge and for mobile environments where IT meets the physical world. The explosive growth of edge data, driven by IIoT adoption and 5G, will allow companies to quickly process and analyse data where it lives and where quick responses are required.
This has consequences for the data storage industry. Research and Markets see growth of more than 20% CAGR for the edge data centre market in Asia Pacific in the next five years, as countries in the region support data centres and colocation that is lowering network traffic and costs. Smaller data centres need less energy for cooling. And sensitive data can be stored on-site, instead of in the cloud.
Boost for VR/AR
Computer vision will take a more prominent role as new technology, including low latency 5G networks, edge computing power, and AI tools make AR and VR more accessible to frontline workers. Images on smart devices appear more realistic to users, enhancing usability.
Several possible use cases come to mind, as a collaboration between remotely based colleagues is becoming much more effective. Maintenance, repair, and operations (MRO) specialists can give guided assistance to workers at factories wearing smart glasses.
A senior employee can provide training and guidance using a special pen that draws 3D holograms, for example. New employees at a plant can use AR devices with pre-recorded instructions on how to carry out specific work.
Becoming more sustainable
Digital solutions and data-driven processes will become intrinsically more important to achieving corporate sustainability targets by allowing enterprises to track and visualise progress in these areas in a more automated way.
Ambitious sustainability goals will only be met by companies that embed these goals in their offerings and can digitalise their processes to address sustainability while balancing the pressure to show immediate action and business results.
Sustainability is becoming an important requirement not just in terms of addressing today’s climate challenges. It is also increasingly important for investors, customers, and employees who recognise its real impact – on the company’s bottom line.
