As we approach the end of the quarter, it’s important to take a pulse on the state of the industry and identify trends that are surfacing that will impact enterprise transformation. Last month, Mobile World Congress (MWC) Barcelona, the world’s largest telecoms and connectivity event, brought all those trends to center stage.
A wide range of technical innovations were on full display, including new offerings from leading players such as Nokia and Intel. We also saw strong signs that enterprises are embracing openness and flexibility across networks to increase agility and accelerate the adoption of 5G, Internet of Things (IoT), edge and cloud technologies.
This event sets the tone for widespread digital transformation. Here are the top three trends that stood out for me and what they mean for the industry going forward.
1. New industries embrace networks
Enterprises are realizing the potential that can be unlocked by embracing network transformation. Industry data shows that the private wireless market is expected to grow to $96.5 billion by 2030. As the foundational layer on which all digital transformation is built, connectivity is a crucial element to all enterprise transformation. Especially for companies looking to embrace next-generation technologies like cloud and data and AI.
Given this, we continue to see new players show up. In addition to the telcos, carriers and cloud providers who make up the usual attendees, we saw a wide presence of IoT and edge companies delivering solutions all powered by networks.
I was also surprised to meet several lawyers, healthcare leaders and business consultants, eager to learn more about how networks can power innovation across their respective industries. For example, one lawyer shared how embracing private 5G networks has helped his team track incidents in the field and prevent future missteps.
Each discussion pointing to the crucial role that connectivity will continue to play as the backbone for digital transformation.
2. Expansion of IoT devices powered by edge computing
By 2030, the number of IoT devices worldwide is projected to reach more than 29 billion – with enterprise adoption accounting for around 40% of these devices. At MWC, it was evident that IoT is rapidly approaching maturity – and ubiquity. Consumer applications were on view, but so were an expanding array of enterprise applications – from robots that can assist retail customers on the shop floor to drones that can safely monitor utility lines and streamline industrial processes.
Underpinning all this is edge computing, which enables IoT technology to collect data quicker than ever before. As enterprises deploy an increased amount of IoT devices, edge computing is crucial as it allows for efficient data processing, especially with large amounts of data, near the source. Not only will this reduce latency and costs, but it also helps optimize the efficiency of the IoT device – especially in remote locations. Finally, operating on the edge provides a first line of defense at the device connection point, which reduces risks of outage and increases data security.
The coupling of edge computing and IoT devices will help businesses operate faster and more securely. And when all these devices are connected through a private 5G wireless network, we’re going to see widespread digital transformation occurring across industries and verticals.
3. Strategic shift towards people-centric use cases
Perhaps the most compelling trend to note was the overall shift in conversations – both across the many stages at MWC, but also on the show floor. Where typically we spend time analyzing the individual technologies and equipment used, this year, there was an increased focus on use cases and how they solve real-life business challenges.
For example, as we’ve said, for enterprises, it’s no longer a question of if they’ll be making investments into IoT at the edge, but when. But this year, as companies showcased the latest applications of IoT and edge, there was intentionally behind each new device and its potential use in the market.
Taking it a step further, companies are also mapping the benefits of these innovations, right down to the impact they have on the individual employee leveraging them each day. Take the retail industry, that’s been especially impacted by staffing shortages and supply chain issues. By shifting focus towards tangible solutions that solve these problems, we’re seeing new innovations such as cashierless payments and mobile self-checkout. All of which improve both the employee and consumer experience.
I came away from MWC Barcelona 2023 with many learnings that I’ll be instilling across my teams. Chief among them: People are at the core of digital transformation, for both the system integrators guiding the digital transformation and the enterprises implementing the new technologies. To drive future growth in the industry, MWC reminds us that network providers, advisors and partners across the ecosystem must all come together to develop solutions that will solve real-world challenges and positively impact people across the globe.
