BENGALURU, India--(BUSINESS WIRE)--Jun 26, 2023--
L&T Technology Services (NSE: LTTS), a leading global pure play engineering services company, announced that it has entered into a strategic partnership with Bharat Sanchar Nigam Limited (BSNL) to drive and enable global enterprises in their private 5G network deployments. BSNL and LTTS plan to co-innovate and jointly bring to market private 5G connectivity solutions to accelerate digital transformation for enterprises.
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Amit Chadha CEO and MD LTTS (Photo: Business Wire)
According to the agreement framework signed by both companies, the spectrum will be provided by BSNL using both PLMN or isolated allotment. LTTS will anchor the private network requirements by deploying equipment, applications, servers, technology and software, and core for the integration of devices/sensors within the customer’s ecosystem.
This partnership marks LTTS’ foray into the 5G private network space, with LTTS assuming the role of a master system integrator for customers, offering choice of technologies, equipment and use case buildout, while BSNL will be the official network provider.
According to IDC, the global private 5G market is expected to exceed $8 billion by 2026, with a compound annual growth rate of 35.7% from 2022. India is seeing an increased need for enterprises seeing the need for deploying a Non-Public Network (NPN) due to faster connection speed and lower latency.
As enterprise needs are becoming more focused on network modernization for security, the push to adopt Captive Non-Public Networks or CNPN have increased. Enterprise 5G will support in unleashing the full potential of Augmented Reality, Virtual Reality, and the Internet of Things across healthcare, education, manufacturing, and smart cities.
Amit Chadha, CEO and Managing Director, L&T Technology Services, said, “We believe in partnerships that enable us to expand technology usage across industries in this Industry 4.0 era. 5G enabled Private Enterprise Networks today are a major step towards allowing such a transformation. We are excited to partner with BSNL across the various joint private networks and digitization to support the growth of sustainable and smart spaces. This partnership is a perfect-fit offering to enterprises with complementary network & digital capabilities coming from both organizations.”
BSNL commented: “This strategic partnership with LTTS will allow us to support global organizations in their digital transformation endeavors. 5G is the next Big Enabler which can positively benefit the lives of millions of end-users and we expect rapid adoption of private networks across multiple use cases and major industries.”
About L&T Technology Services Ltd
L&T Technology Services Limited (LTTS) is a listed subsidiary of Larsen & Toubro Limited focused on Engineering and R&D (ER&D) services. We offer consultancy, design, development and testing services across the product and process development life cycle. Our customer base includes 69 Fortune 500 companies and 57 of the world’s top ER&D companies, across industrial products, medical devices, transportation, telecom & hi-tech, and the process industries. Headquartered in India, we have over 22,200 employees spread across 22 global design centers, 28 global sales offices and 99 innovation labs as of March 31, 2023. For more information, please visit https://www.LTTS.com/
View source version on businesswire.com:https://www.businesswire.com/news/home/20230623946202/en/
CONTACT: Aniruddha Basu
L&T Technology Services Limited
E:Aniruddha.Basu@LTTS.com
T: +91-80-67675707
KEYWORD: NORTH AMERICA UNITED STATES ASIA PACIFIC EUROPE INDIA
INDUSTRY KEYWORD: TECHNOLOGY MOBILE/WIRELESS ENGINEERING 5G CARRIERS AND SERVICES TELECOMMUNICATIONS MANUFACTURING NETWORKS HARDWARE
SOURCE: L&T Technology Services Limited
Copyright Business Wire 2023.
PUB: 06/26/2023 03:30 AM/DISC: 06/26/2023 03:31 AM
http://www.businesswire.com/news/home/20230623946202/en
