The global telecom services market size is expected to grow at a compound annual growth rate (CAGR) of 5.0% until 2027. According to a study by Grand View Research, the rising investment on wireless communication infrastructures due to the shift to cloud-based technology is one of the key factors driving this industry forward. But there are more. An increasing demanding for high-speed data connectivity and value-added managed services are also fueling the market. In this article we will explore the key advancements in the telecommunications industry that you need to pay attention to get great new projects from operators.
Changes in the telco market are nothing new as this is one of the most innovative sectors globally. 5G, AI, IoT, BYOD or the ISDN switch-off are trends that are gaining their place.
Technology has come a long way in the past decade. This year only, we have seen an overwhelming move towards flexible/remote working with the Covid-19 pandemic. And the telecom industry made it easier, more efficient and appealing than ever before.
Key advancements in the telecommunications industry
But what are these trends and advancements? Let us take a close look into each one of them and find out what is really important to retain and take advantage.
ISDN or Integrated Services Digital Network is a circuit-switched telephone network system that transmits both data and voice over a digital line. We can also see it as a set of communication standards to transmit data, voice, and signaling. But its “life” is coming to an end in several countries, like the UK. The same is to say that all businesses have to put these traditional systems behind and embrace the future of telecoms technology. The upgrades must be done as soon as possible so that businesses are not left without their voice services by reacting too slowly. From now on, any new buildings or upgrades are starting to be developed around super-fast fiber FTTP instead of the FTTC (Fiber to the Cabinet) technology that we have seen previously. This enormous upgrade can be really leveraged.
Bring Your Own Device
The idea is that each person uses their own devices to work, being able to communicate and access the company’s systems through cloud technology. Among the advantages of BYOD are employee satisfaction and reduced costs. However, the company is required to guarantee an appropriate deployment strategy, a solid network infrastructure (with high availability and high performance) and a strong cybersecurity plan. This represents a huge opportunity for new telecom projects.
The market for telecom services has also witnessed significant improvements in data speeds, from the old Global System for Mobile communications (GSM) and Code Division Multiple Access (CDMA) to Third Generation (3G), Fourth Generation (4G), and (pretty soon, we hope), into the commercialization of Fifth Generation (5G) networks.
Both customers and companies will for sure benefit from the mass-introduction of 5G. All the specialists are unanimous on saying that mobile voice services will be greatly enhanced with these technologies. Could we ever imagine that the advent of data connectivity made possible the reduction in the duration of transferring large data size files from days to hours and now, from hours to just a few seconds? Don’t miss the world of possibilities that it will bring!
Internet of Things
And, if we talk about a really disruptive technology, then we have to mention Internet of Things (IoT). The big impact is still to come, but IoT is leading the way into an exponential growth in connected devices. Smartphones talking to refrigerators or AC devices, printers or washing machines. But it is important to know this reality is generating billions of new data sources that will most certainly push the data to be handled by networks to zettabytes per year. Carrying with it some potential incredible business.
Smartphones with artificial intelligence (AI) capabilities will be the next big thing in the telecom market. Enabling smartphones to perform highly sophisticated functions – augmented reality or speech recognition, for instance – but it can go further. What if a smartphone learns the daily tasks of an employee to enable digital assistants? Facilitating and accelerating his work? That’s AI magic… and you can’t be left behind.
How companies are adapting to these key advancements in the telecommunications industry?
According to a KPMG survey of almost 600 telcos decision-makers, leaders are enthusiastic about disruptive technologies to improve products and services, reduce costs, and outpace their rivals. But they also have some concerns and expectations regarding the lack of organisational flexibility and agility to optimise new technologies. So, they need help to embrace them!
Find products from all technologies for your future projects at Twoosk marketplace and leverage some of these key advancements in the telecommunications industry.
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