Telephone booths were quite a common sight in the 90s’ and the early 2000s’ right? But how often do we see or use a payphone today? The cause of this radical change is the rise in the accessibility of telephone connections and mobile phones over the past couple of years. The telecom industry trends and developments in recent times have turned tables for the way we access and consume technology. Today, if someone were to ask you the five things you wouldn’t leave your home without, undoubtedly your mobile phone would be one of them. This establishes the fact that the services offered by the telecom industry companies have become an integral part of our lives.
2017 witnessed the advent of several telecom industry trends such as IoT and increased adoption of wireless technology, which had been being rolled out by companies in this sector. However, data security and network threats continue to be a significant concern for telecom industry players. Wonder what new telecom industry trends this new year would bring for you?
Continue reading as we explore what reforms we can expect in the telecommunications sector in 2018.
TELECOM INDUSTRY TRENDS
AI and advanced analytics
Though the application of AI and other advanced analytics are not specific telecom industry trends; in 2018, we can expect a broader application of these techniques is revolutionizing telecom services. We can expect artificial intelligence to enhance service personalization and customization of offers to improve the customer experience. Several advanced analytics methods are also likely to see increased usage in the telecom sector for providing optimized offerings, better cross-selling opportunities, improved efficiencies, and operational excellence.
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Telecom is finally 5G-ready
5G has been one of the most discussed telecom industry trends in the last few years. In 2018, we are edging closer to the initial promises of 5G trials. Taking inspiration from the 5G breakthrough by Qualcomm, other prominent telecom companies are likely to outline their consumer and enterprise propositions, specifically use-cases in AI, IoT, and cloud. This year onwards, expect more trials from telecom operators to establish the viability of 5G as a true mobility standard.
AR/VR to boost mobile data usage
The introduction of real-time social media services and video streaming platforms has been a significant facilitator in sky-rocketing the mobile data usage of consumers. But with AR and VR technology finding numerous applications for commercial and personal uses, the demand for data is only expected to go higher. Unlike conventional videos, VR/AR requires high bandwidth on a bi-directional basis, with edge computing and low latency. We are likely to see more operators deploy smarter capital expenditures to ensure appropriate network densification that supports the use of such advanced technologies.
Establishing digital omnipresence
Going digital is the way forward. In the years to come, we can expect the advent of many new digital telecom industry trends. Several telecom operators will venture into a myriad of digital services, including FinTech, video bundling, and lifestyle propositions linked to home appliance control. Digital omnipresence will also help telecom companies to enhance overall customer experience through in-depth analytics and potential cross-selling opportunities. Request a free brochure to find out how market intelligence can help businesses tackle complexities and gain a leading edge.
Going lean and agile
Driving lean initiatives to increase productivity gains and higher earnings will be on the priority list of telecom operators in 2018. This measure will be taken in the light of continuous revenue erosion that has been taking place in recent times. Though several companies in the sector are already operating at high levels of productivity with limited upside, they can further assess their cost structures through machine learning and automation to achieve better optimization results.
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