Nokia and Kyndryl have extended their collaboration on factory automation using 5G wireless networks for another three years. Having entered into its first agreement a year earlier, the companies have already attracted more than 100 clients to date.
Big tech companies are looking to partner with telcos like Nokia to offer private 5G to their customers, predominantly industrials. So far, however, few companies have made significant progress in this business, which is expected to grow in the billions of dollars a year.
“In the past year, we have significantly expanded this business with a number of customers and a number of networks,” Chris Johnson, Nokia’s head of corporate business, told Reuters.
The global private 5G market is expected to reach $41.02 billion by 2030, up from $1.38 billion in 2021, according to Grand View Research.