Nearly 80% of organisations that adopt private wireless networks expect to or have already seen a return on investment (ROI) within six months, a Nokia survey has revealed.
The research, conducted by GlobalData, aimed to understand the impact private wireless networks have on enterprises. It also found that more than half of respondents had enjoyed reduced costs since installing private wireless technology.
GlobalData surveyed 79 key decision makers at multinational companies across a range of sectors to gauge the current enterprise outlook on private wireless networks.
It found that businesses are adopting private wireless solutions to build more efficient and secure methods of carrying out critical operations.
John Marcus, principal analyst at GlobalData, said: “Faced with a volatile global economy, many enterprises are choosing to digitally transform operations to achieve their strategic objectives.”
More than half of companies that have installed private wireless networks experience a decrease in their total cost of ownership (TCO) at 6% or higher. Of these, an additional 30 percent of respondents marked a decrease above 10%, according to the survey.
Enterprises have also improved internal metrics like energy consumption and reduced downtime through data analytics and enhanced sensors. Some noted improvements of more than 20% in these key areas.
Stephan Litjens, VP of Nokia Enterprise Solutions, said: “We wanted to gain a deeper insight into customer behaviours and drivers around and beyond private wireless. Working with GlobalData, we uncovered data that confirms our approach of delivering one pre-integrated platform for industrial digitalisation is preferred by enterprises.”
The majority of respondents also said that a subscription-based price model for private wireless services works best for them.
Want to learn more about edge computing from industry leaders? Check out Edge Computing Expo taking place in Amsterdam, California and London.
Explore other upcoming enterprise technology events and webinars powered by TechForge here.