The manufacturing and energy and utilities sectors will spend a combined total of $237 billion on information and communication technology (ICT) in 2019, said Frost and Sullivan in a recent analysis.
The development of fully automated plants requires cloud adoption for core processors, cyber security efforts and the implementation of artificial intelligence for advanced robotics.
According to the survey, Connected Industry Insight Series: ICT Opportunities in the Global Smart Plants Market, revenue opportunities for mobile network operators (MNOs) will be limited.
While, in comparison to fixed-line and short range machine to machine services (M2M), demand for cellular connectivity services will be low.
In addition, ICT vendors can develop end-to-end services that include network equipment, connectivity, virtualization, cloud-based software, data analytics and cyber security by working with other providers in IT ecosystem, mentioned Frost & Sullivan.
ICT providers can also anchor their place in the global smart plants space.
“ICT vendors can contribute to the development of improved plant-floor communication systems in collaboration with automation vendors,” said Frost & Sullivan Information & Communication Technologies senior research analyst, Shuba Ramkumar.
Few days ago, Foxconn announced to invest in India across verticals like manufacturing, start-ups, energy and e-commerce portals.