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Verizon is one of the largest communication technology companies in the world.
Verizon Communications Inc. was formed on June 30, 2000 and is celebrating its 20th year as one of the world’s leading providers of technology, communications, information and entertainment products and services.
Headquartered in New York City and with a presence around the world, Verizon generated revenues of $131.9 billion in 2019. The company offers voice, data and video services and solutions on its award winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
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Who did Verizon build their network for? People. Every hole dug, every wire spliced, every tower raised, it was for people who wanted to connect to other people, businesses and the world around them. And when you know people are depending on you for those connections, you do whatever it takes.
John Crawford, GM International, Enterprise Innovation and 5G Solutions, Verizon Business Group said: “As a leader in Private 5G solutions, Verizon is delighted to be a part of the Made Smarter Technology Accelerator, together with the Digital Catapult team. We have seen tremendous interest from manufacturing customers and the Made Smarter Technology Accelerator allows us to showcase next-generation private 5G solutions within this very important sector, helping companies realise the benefits and empowering them to take advantage of this next wave of market-changing solutions.”
Manufacturing in Europe is in flux. In many sectors, revenue and margins have been under pressure for some time, due to competition from other markets and changing demand for certain products and goods.
And the COVID-19 crisis has brought a new set of challenges. Our own research identifies 62% of manufacturers across 16 countries reporting declines in revenue during the pandemic. At the same time, we have seen the emergence of industry 4.0, industrial iInternet of things (IIoT) and smart factories, all of which have the potential to transform the operational technology (OT) that manufacturers rely on. Indeed, 72% of respondents to our research said the ability to deploy new technologies has become more important.
For those with substantial plants and long supply chains, transforming OT capabilities won’t be easy, but the investment is worth it: Gartner found that 36% of manufacturing enterprises realise above-average business value from IT spending in digitalisation.
There are four main challenges that manufacturers need to address by transforming their OT capabilities:
Clearly, some of these challenges will apply more to some manufacturing businesses than others, but it’s likely that at least some will apply to every manufacturer. But the capabilities you need to address these challenges – predictive maintenance, automation, remote operations and digital twin – can only be made possible by the transformation of OT, some of which is decades old.
Crucial to this is for the teams responsible for OT to work more closely with the IT department, to ensure they have the kind of advanced networking and cloud tools needed to support the advances being made.
The capabilities you need to address these challenges… can only be made possible by the transformation of OT.
Read more about preparing to transform your manufacturing business here.
The newest manufacturing technologies from Verizon can help simplify, automate and improve business operations from inventory control to employee training. Discover digital manufacturing resources that explain how technology in the manufacturing industry is helping to shorten lead times, manage equipment remotely and protect businesses from cyber threats.
Digital Manufacturing Trends & Innovations | Verizon