Telecom industry continues to be a rich and vibrant sector, growing speedily across the wide range of technologies, services and products. Constant transformation and innovation in information technology has fueled telecom industry for maximum expansion in current business environment. Today, there are numerous leading-edge telecom products and services available, offering customized options to consumers, businesses, and governments. A reliable communication system is highly indispensable for a nation’s economical, social, and political development. To cope with ever-changing trends of the modern world, telecom companies are pushing things forward and undergoing various infrastructure and networks upgrades to sustain market advantage and customer loyalty, while also inventing new technologies in the process.
Here are top five emerging trends on telecom industry in the coming years:
Telecom industry is now a dog-eat-dog environment with so many products and services providers available. Competition has never been tougher than today’s scenario. At such a fierce atmosphere, telecom companies that do not conform to the changing trends have to get out of the game. To push businesses forward, companies must prepare for the toughest competition to offer innovative solutions to consumers, while also endeavoring to provide better functionality & technology at the most affordable prices.
More Wearable Technologies
Wearable devices that range from diagnosing health problems to answering a phone call are already on the modern trends. You can expect more such technologies in the coming years. Wearable devices demand data to process numerous functionalities beyond a wireless connection. Here, telecom industry can boost the life-style for the “always-stay-connected” outlook by offering various innovative plans and technologies.
Machine to Machine (M2M) Communication
In today’s modern lifestyle, we have already started using devices or machines that are geared for communicating one another, for example home security devices, intelligent refrigerators, car diagnostics, etc. Here, telecom industry can take the modern technology advantages and provide greater bandwidth and data to consumers with their innovative products.
Multiple Screens Utilization
In the coming years, you can expect more affordable multiple screen devices that offer multiple tasks at once. For example, while watching TV, you can text for a promo code during commercials or tweet during a show. Companies can focus on more advanced technologies that can synchronize multiple screens in various home-units such as TVs, PCs, phones, tablets, video game consoles, etc.
Revenue Stream Reformation
Telecom industry will explore new markets to reform its traditional revenue lines. It can start focusing more on leading edge services such as technology-as-a-service, Machine to Machine (M2M) communication technologies, Internet of Things (IoT), Cloud services, internet TV, etc. In this modern era, such innovative services will pull more customers while staying abreast with latest consumer demands and also maintaining consistent flow of revenue streams from new technologies.