Car parking rate

Ericsson (ERIC) tests automated parking and facilitates 5G network deployment

Ericsson ERIC has partnered with a technology company, Unikie, to conduct a pilot test related to automated factory parking at the test site in Turku, Finland. The Finland-based software technology entity capitalized on Ericsson’s autonomous 5G private network (SA) to run the trial.

At a time when more than 500 global auto factories and 90 million cars were produced in 2019 itself, automakers are leveraging the benefits of Industry 4.0 technologies to streamline overall factory logistics, including management. vehicle logistics. Given the current situation, Ericsson’s 5G SA network is a godsend while accelerating digitization.

The latest project helps major automakers by supporting essential performance requirements for optimized factory parking. Unikie’s Automated Factory Parking (AFP) sensor and software solution remotely manages vehicle logistics via a secure private Ericsson 5G SA network while ensuring the safety of on-site personnel. Other use cases for the technology include airport parking lots, logistics centers, and shopping malls.

5G SA allows lower latency than non-autonomous 5G networks. It allows more people and devices to use mobile data at the same time. The technology eliminates dependence on 4G by allowing operators to increase their network capacities with a simpler architecture. Additionally, it improves network speed and simplifies mobility management with seamless access to 5G broadband for improved user experience.

The trial enabled automakers to identify the precise location of parked vehicles by optimizing parking space by up to 20%, using low latency connectivity. This will not only reduce the daily operating overhead costs with minimized labor costs and search time, but also reduce parking accidents. In addition to AFP and 5G SA technologies, the test took advantage of advanced computing. As a result, car manufacturers can follow the route of the car factory and automate parking with the highest precision.

In another development, Ericsson unveiled the intelligent deployment solution with the aim of strengthening its portfolio of network services. The innovative solution was specifically designed for the 5G era, in which service providers can seamlessly deploy networks with greater agility and flexibility. This helps them to respond effectively to dynamic customer demands. Intelligent deployment includes a modular suite of tools and services equipped with artificial intelligence, automation and data-driven cloud-based architecture to optimize network lifecycle management.

Going forward, Ericsson intends to invest in strengthening its portfolio and expanding its global presence. The company is benefiting from accelerated 5G deployments in Northeast Asia, North America and Europe. It currently has 144 5G trade agreements with communications service providers and 94 live 5G networks in 45 countries. The company expects to benefit from its strategy which relies on increased investment in research and development for technological leadership. Such uptrends should boost the business roadmap of the Sweden-based company in the long term.

Ericsson currently has a Zacks Rank # 3 (Hold). Its shares returned 6.8% compared to the industry’s growth of 31.3% last year.

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Some top-ranked stocks in the industry are Clearfield, Inc. CLFD, InterDigital, Inc. IDCC, and Aviat Networks, Inc. AVNW. While Clearfield sports a Zacks Rank # 1 (strong buy), InterDigital and Aviat Networks carry a Zacks Rank # 2 (buy). You can see The full list of today’s Zacks # 1 Rank stocks here.

Clearfield has achieved a profit surprise of 49% on average over the past four quarters.

InterDigital achieved a surprise profit over the last four quarters of 536%, on average.

Aviat Networks recorded a surprise profit over the last four quarters of 41.8% on average.

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