Manufacturing Today Issue - 224 May 2024 | Page 39

____________________________________________________________________________________________________________ Verizon
Robust security With cybersecurity threats posing immense financial risks , Verizon ’ s private cellular network provides an impenetrable digital fortress . Its advanced encryption and strict security protocols harden defenses against breaches that could cripple production . The economic impact is significant - the average cost of a data breach in manufacturing was $ 5.2 million in 2022 .
Unparalleled connectivity A hallmark of Verizon ’ s 5G is its ability to connect a vast array of IoT devices and sensors across factory floors with zero performance degradation . This seamless integration is critical for smart manufacturing , allowing over one million devices per square kilometer to work in sync . Real-time analytics and edge computing become feasible at unprecedented scales .
Cost efficiency gains Significant cost savings have been sparked by Verizon ’ s private cellular integration in the industrial industry . Manufacturers expect to save an average of about 38 percent on costs when using 5G to wirelessly connect machines and equipment . The real-time visibility and control provided by 5G enable improved automation , optimized resource allocation , and decreased downtime , which are the main drivers of these savings .
Improved safety and compliance The high reliability , low latency , and vast connectivity of Verizon ’ s 5G enhance monitoring and control capabilities within industrial environments . This technological advantage leads to improved workplace safety protocols and better compliance with regulatory standards . According to OSHA data , the economic impact of occupational injuries and illnesses amounts to $ 171 billion annually . Verizon ’ s private cellular network mitigates these risks through advanced sensors , emergency shut-off mechanisms , and seamless human-machine interfaces .
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