Research by GlobalData commissioned by Nokia highlighted reducing costs and energy consumption as among the benefits of enterprises deploying private wireless networks.

GlobalData surveyed key decision makers at 79 multinational companies across verticals including manufacturing, energy and transportation.

Respondents indicated a high level of confidence for deploying private wireless networks in conjunction with industrial edge capabilities, particularly in integrated offerings, to achieve cybersecurity, cost efficiency and sustainability goals.

Among companies which have deployed private networks, more than 50 per cent reported total cost of ownership reductions of at least 6 per cent, and 29 per cent citing a more than 10 per cent saving.

A majority of the respondents (79 per cent) expect to reach RoI within six months of deployment.

Some respondents reported a more than 20 per cent improvement in metrics spanning reduced downtime and energy consumption after implementing technology including enhanced sensor and data analytics, all of which helped them establish more efficient and safer operations as part of sustainability goals.

The survey found 47 per cent preferred subscription-based pricing models.

Nokia stated being able to offer private wireless as a service provides enterprises more flexibility in their deployments while also allowing them to dynamically “scale up capabilities” as needed for new use cases.

John Marcus, principal analyst with GlobalData, stated enterprises should pick providers offering a modular approach which allows them to evolve at their own pace to meet their specific needs.

Nokia counts more than 500 customers in the private network space.