The telecommunications industry is one of the key sectors that has reaped the benefits of the growing popularity of digitization. From big data analytics to machine learning, the telecommunications industry players are leaving no stone unturned to enhance their customer experience. However, looking at the pace of development today, the telecommunications industry needs to take bigger leaps to stay up-to-date. Wonder what are the factors that could hinder the smooth functioning of this industry?
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The Era of Exabyte And Zettabyte
Megabytes and gigabytes are soon going to be a thing of the past. Today, people’s exposure rate to digitization is growing, because of which there is an explosion of connected devices. Due to the upswing in the sale of mobile devices, the amount of data consumed has increased significantly. However, the telecommunications industry, in its current state, is not yet equipped to completely meet these increasing data requirements in the years to come.
Migration from Landline to Mobile Phones
Smartphones are ruling the global market; this has led to mobile connectivity outpacing landline connectivity. Most of the growth is taking place in developing nations, where the majority of the population find it more convenient to use a mobile phone due to its numerous advantages.
Downhill Movement of Prices
In the past decade, a lot of new players have entered the telecommunication industry. One of the main reasons being the promising future and the opportunities it presents to its investors. With the increasing competition, the players in the industry are forced to reduce prices to survive the cutthroat competition. Over the years, the cost of services provided by the telecommunications industry is also expected to go lower and lower.
Every industry goes through three basic stages – introduction, growth, and decline. Currently, the telecom industry is at the peak of growth, which means that the next stage is saturation and decline. With the growth in digitization and the introduction of new technology like assisted living facilities becoming popular, there would be a dire need for bandwidth capacity. To meet this demand, the telecom companies would be more focused on adopting technologies to expand their capacity.
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Battling with Security
With the internet and network connectivity becoming widely accessible, the security of data is becoming a major concern. Since the telecom operators are the custodians of the networks, they play a pivotal role in fighting emerging threats. As such, the customers expect operators in the telecommunications industry to be more proactive and meet their expectations.
The Rebirth of Skynet 2.0
Skynet is a network of military communications satellites that exists in the form of space balloons or drone-based systems. This network offers highly secure communications and is expected to be re-introduced into the market by 2020.