Latest trends in the telecommunication industry
Telecommunication, also known as telecom, is referred to the exchange of information by electronic means such as telephones, microwave communications, satellite, radio, fiber optics etc. through voice, data and video transmission over long distances. Since the advent of the internet, telecommunication has been one of the major driving force behind the global development and value creation.
Recently, there are many changes occurring in the telecom industry which can easily be attributed to the advancement in technology. High rates of growth are being forecasted for this fastest growing market. Telecom companies and virtually all businesses that access telecom networks will feel both the immediate as well as far-reaching impacts because of these major trends that are currently being circulated in the telecom sector.
The Internet of Things
* The Internet of Things or IoT is the collection of smart devices that talk to each other (and to us) through wireless technology. IoT is going to be our future ecosystem which will connect everything we have from our home to work to our car to even the heart monitors.
* Since IoT is a new territory for telecommunication companies and mobile operators, it can prove to be a challenge as well as an opportunity for customers who depend heavily on telecommunication companies for reliable and high-speed internet connection.
* Apart from providing services and investing on valuable user data from IoT devices, telecom companies will invest more in building infrastructure committed to providing 5G and secure carrier-grade WIFI networks along with transferring a large amount of data securely.
Another big trend of this year which got everybody into talking is the rise of platform-based services. Since one of the challenges, today faced by the telecom industry is that of stagnating revenues, more and more operators are shifting from connectivity providers to platform providers in order to generate greater value.
* Due to the ever-growing demand for faster internet, every major telecommunication company is competing hard among themselves to win the race for dominance over the 5G network which is probably one of the hottest telecom trends of this year.
* 5G is not only important because of its lead role in next-generation IoT and M2M applications such as augmented/virtual reality and autonomous vehicles but also because it is essential to meet the ever-increasing demand for higher data rates and capacity.
* We will also witness a significant increase in the number of research connected to 5G networks along with lots of advancements from other industries such as agribusiness, energy, and transportation etc. in the development of 5G networks.
Content is (always) King
Internet TV is another hot trend of this year which is made possible due to the rise of content along with streaming services such as Netflix, Amazon Prime, and Google YouTube premium.
Because of this, telecom operators are on the lookout for new business models that are based on content along with heavy investments in software and platform development and merging with content providers.
* Clouds are basically remote servers that host data storage and applications, Cloud Computing saves the expenditure on IT assets as these files can be accessed by users on a pay-as-you-go basis from literally anywhere across the globe.
* Telecommunication sector is keenly interested (and therefore have heavily invested) in this technology due to its efficiency, convenience and pay-per-use models from geographically independent third-party suppliers.
* Cloud services have enabled telecom industry that offer call center services to deliver cloud capabilities, manage connectivity and leverage network assets in order to enhance computing capacity, cloud offerings, and deliver-on-demand applications.
* Last year was full of news about data breaches in some high-end companies which have prompted network providers to come up with more robust protection techniques rather than data being simply transported through traditional means.
* Focus on network security this year will be more important for telecom industry than ever before, which will be processed through the shift in encrypted data from a niche play to more pervasive technology.
* Till now, the telecom sector has used data centers to organise, process, store and disseminate large amounts of data, application, and services in a facility composed of networked computers and storage.
* As the telecom industry will continue to integrate cloud computing into its IT operations, besides managing increased data, more and more focus will shift toward improving the current underlying infrastructure,
* The demand for smart data center solutions will continue to grow in the upcoming years and as a result, telecom operators providing BPO services India and other such developing countries will be pressurized to deliver faster data along with more flexibility than ever before.
In today’s increasingly connected ecosystem of digital products and services, mobile phones remain the central point and telecommunications, the keystone sector of connected networks such as IoT, personal connectivity, smart cities etc. and traditional telecommunication values and related assets, this year, will give rise to rapidly changing technologies, customer preferences and proposed regulations.