Published on 8 Sep 2021 on Zacks via Yahoo Finance
Ericsson (ERIC) Tests Automated Parking, Eases 5G Network Rollout
Ericsson ERIC has partnered with a tech company, Unikie, to conduct a pilot run related to automated factory parking, at the test facility in Turku, Finland. The Finland-based software technology entity capitalized on Ericsson’s 5G standalone (SA) private network to run the trial.At a time when more than 500 global auto factories and 90 million cars have been produced in 2019 itself, automotive manufacturers are relying on the benefits of Industry 4.0 technologies to streamline the overall logistics of factories, including vehicle logistic management. Given the current situation, Ericsson’s 5G SA network comes as a boon while accelerating digitization.The latest project aids large automotive manufacturers by supporting the performance requirements essential for optimized factory parking. Unikie’s Automated Factory Parking (AFP) solution of sensors and software remotely manages vehicle logistics via a secure Ericsson 5G SA private network while ensuring safety for onsite staff. Other use cases for the technology include airport parking, logistic hubs, and shopping malls.The 5G SA enables lower latency than 5G non-standalone networks. It allows more people and devices to use mobile data at the same time. The technology eliminates 4G dependency by enabling carriers to augment their network capabilities with a simpler architecture. Moreover, it improves network speed and simplifies mobility management with seamless access to wide 5G bands for enhanced user experience.The trial has facilitated automakers to identify the accurate location of parked vehicles by optimizing the parking space by up to 20%, supported by low latency connectivity. This will not only cut down day-to-day operational overheads with minimized labor costs and search time but also ensure lesser parking accidents. Apart from the AFP and 5G SA technology, the test leveraged edge computing. As a result, automakers can track the car factory route and automate parking with utmost precision.In another development, Ericsson unveiled Intelligent Deployment solution in a bid to reinforce its Network Services portfolio. The innovative solution has been specifically designed for the 5G era wherein service providers can seamlessly deploy networks with greater agility and flexibility. This helps them to effectively cater to the dynamic requirements of customers. Intelligent Deployment includes a modular suite of tools and services that are equipped with artificial intelligence, automation, and a data-driven cloud-based architecture to optimize network life cycle management.Moving forward, Ericsson intends to invest in strengthening its portfolio and expanding global footprint. The company is benefiting from accelerated 5G deployments in North-East Asia, North America, and Europe. It currently has 144 commercial 5G agreements with communication service providers and 94 live 5G networks in 45 countries. The company expects to benefit from its strategy that hinges on increased investments in research and development for technology leadership. Such bullish trends are expected to boost the Sweden-based company’s business roadmap in the long haul.Ericsson currently has a Zacks Rank #3 (Hold). Its shares have returned 6.8% compared with the industry’s growth of 31.3% in the past year.
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