As we enter a new year, the telecom industry must identify strategic opportunities to recover from the COVID-19 crisis. Industry players have faced various challenges over recent years, ranging from the sudden upsurge in telecom needs, rising dependency on telecommunications, and quick expansion of the networking world. Although the industry is plagued with challenges, it continues to grow at a considerable rate.
However, the growing industry is continually witnessing new challenges, and telecom industry players are struggling to maintain business continuity and prepare for the new normal through challenging times. Telecom industry players are attempting to develop sustainable solutions for constant challenges and tackle them while the world awaits a pandemic resolution.
Companies must be aware of the most significant challenges to tackle industry challenges and address them as per priority efficiently. Infiniti’s market intelligence experts analyzed the telecom industry and identified three significant challenges that require an immediate address. With our market intelligence solutions, telecom companies can identify, address, and strategize for the various industry challenges that plague their operations, and ensure sustainable strategic solutions at all times.
Overcoming telecom industry challenges can be difficult and cause various problems for industry players. To learn how our market intelligence solutions can resolve these challenges, request a free proposal.
Challenges in the Telecom Industry
The COVID-19 pandemic caused an upsurge in telecom and network requirements across the world. Work-from-home arrangements and the need for connectivity across cities, states, and countries led to the telecom industry’s growth. However, this growth was accompanied by sudden expansion, more hardware, structural changes, increasing security challenges, and different countries’ different policies. To provide a clear understanding of the most prominent challenges in the telecom industry, our market intelligence experts have detailed them below:
Challenge 1: Changing Regulatory Framework
High dependence on online networks and cloud-based applications has led to a need for improved security measures. These risks have led to increased intervention from governments. Increasing intervention, changing policies, and uncertainty regarding regulations have confused and made it difficult for telecom companies to ensure compliance. Therefore, it is crucial for telecom industry players to gain a comprehensive understanding of changing government policies and develop systems to stay a step ahead of compliance and regulatory challenges.
Infiniti’s market scanning and monitoring solutions help companies keep abreast of current and upcoming market changes. Telecom companies can assess, track, and gain insights regarding changing regulatory frameworks. Additionally, with data-driven insights and clarity regarding the various regulations, companies can develop sustainable solutions that overlook and ensure compliance at all points.
Challenge 2: Cyber-security Issues
Digitization and cloud-based information systems have become highly common, which has led to a high volume of personal data being available on the internet. While most software, companies, and consumers attempt to ensure their data’s security to a certain extent, any minor vulnerabilities can lead to major violations of privacy, circulation of data, and loss of control over certain systems. Various sub-sectors of the telecom industry have been struggling to overcome this challenge by developing better software, introducing multiple security points for certain sensitive applications or data, and increasing security on personal devices.
These potential risks have become increasingly challenging to overcome, and a few industry leaders have successfully established solutions to provide safety and security to their consumers. Infiniti’s competitive intelligence and benchmarking solutions help companies evaluate their competitors’ strategies and develop improved solutions for their consumers. In this highly competitive and challenging market, our solutions can help telecom industry players identify the ideal solution to the cyber-security issues and overcome them with an understanding of their competitors’ strategies.
Growth and scaling are necessary and unavoidable in the telecom industry, but ensuring efficiency can be challenging. Speak with our industry experts and learn how our market intelligence solutions help companies overcome challenges and grow efficiently.
Challenge 3: Growth in IoT and 5G
Innovation is unavoidable in a fast-paced world and competitive industry. Recently, the most prominent innovations have been the growth of Internet of Things (IoT) and 5G networks. IoT refers to the connectivity shared among millions of personal and business devices via the internet. This concept refers to the high networking and connectivity levels that most industries, institutions, and individuals use to collect and share data constantly. While IoT is a huge step forward for the world, it causes hardware challenges for the telecom industry it makes it difficult for companies to keep pace with the widespread interconnectedness of the internet. Additionally, the development of 5G, which promises higher speeds, improved latency, and better bandwidth, has introduced other telecom companies’ challenges.
Ensuring uniformity across networks and upgrading hardware to match customers’ expectations is becoming increasingly challenging as networking and connectivity continue to grow. The internet is now widely-used and has become a necessity for most countries. With our demand planning solutions, companies can evaluate market changes and make the necessary changes within their supply chain and business model to enable scaling. Telecom industry players can forecast future needs and plan accordingly to accommodate a significant difference within a small time frame.
Market Intelligence Solutions in the Telecom Industry
Infiniti’s market intelligence solutions have helped telecom industry leaders revamp their supply chain processes, realize substantial savings, and enhance their market share significantly. In this rapidly evolving industry, keeping abreast of industry changes, having insight into competitors’ strategies, and taking pre-emptive measures to ensure business continuity and growth is crucial.
With our competitive intelligence, demand planning, and market scanning and monitoring solutions, telecom companies can assess industry challenges and create an unparalleled solution to address each issue. Our market intelligence experts have helped telecom industry leaders overcome significant industry challenges, strategize for upcoming trends, and stay ahead of the curve at all times.
Infiniti’s market intelligence solutions help telecom industry players gain an unparalleled strategic edge. Request more information to learn how your organization can champion the telecom industry with the help of our experts.