Nokia Oyj (NYSE: NOK) shares on 8 May 2020 closed at $ 3.58 by gaining 0.85%. The Finnish company has partnered with ABI Research, an independent research firm, to conduct the survey in more than 600 manufacturing decision-makers to assess the scope of investment strategies related to 4G/LTE, 5G and Industry 4.0.1.
According to a recent survey conducted by the company, found that 74% of respondents are looking to upgrade their communications and the control networks by the end of 2022 with more than 90% investigating the use of either 4G and/or 5G in their operations. Just over half of respondents (52%) believe that the latest generation of 4G/LTE and 5G will be necessary to meet their transformational goals.
The research also identified key business use cases that would drive investment in 4G or 5G. Respondents reflected the need to digitalize and improve existing infrastructure (63%), automation with robotics (51%) and achieve new levels of employee productivity (42%).
Manish Gulyani, Vice President Marketing, Nokia Enterprise said: “We have reached an inflexion point in Industry 4.0 transformation as the fast, secure, low latency connectivity underpinning its implementation now becomes available. This research indicates the strong marketplace appetite for industrial-grade wireless networking to capture the transformational benefits of digitalization and automation. We believe that demand, combined with easy-to-deploy private wireless solutions, will drive adoption.”