The Strategist

Nokia and Kyndryl extend cooperation in private 5G networks

02/15/2023 - 10:03

Nokia and Kyndryl have extended their industrial automation partnership leveraging wireless 5G networks for additional three years. The companies signed their first contract a year ago, and now they have more than 100 clients.

To be able to offer their customers, particularly industrial organizations, the use of private 5G networks, large technology companies are ready to collaborate with producers of telecoms equipment like Nokia.

However, few businesses have so far been able to make significant strides in this industry, which is expected to increase by billions of dollars annually.

Nokia's head of corporate business, Chris Johnson, told Reuters that "last year we considerably increased this business with a number of customers and a number of networks."

According to Grand View Research, the market for 5G private networks would grow from $1.38 billion in 2021 to $41.02 billion by 2030.