Top 5 Telecom Trends & Growth Drivers 2020
Telecommunication is a vast field. It has transferred every sector across the globe. The telecom trends are ever-changing and ever-growing. The adoption of new telecom trends tends to increase the ROI of investors. After the covid situation, the most important 5 trends that one should adopt for success are 5G, Artificial Intelligence (AI), Internet of Things (IoT), Cloud Computing, and OTT Service.
The adoption of these technologies transforms the telecom sector at an astonishing rate. Do you want to know in-depth about the latest telecom trends and growth drivers?
Let’s dig in!
Here is the list of top telecom trends:
5G – High-Speed Connectivity
The 5th generation is the most significant telecom trend in 2020. The increasing demand for high-speed connectivity has given rise to the next generation network.
- Lower latency
- Higher capacity
- Increased bandwidth
- Faster speed of 10 Gbps,100 times faster than 4G
With these fruitful results of 5G, it has certain challenges like frequency bands, cost to buy and build, regulations and standards, security, and privacy. To overcome these challenges, AAA plays a key role in 5G.
Telecoms will be able to interact more with their customers as they help them navigate their 5G access.
Artificial Intelligence (AI) – Enhance Customer Experience
AI enhances the customer experience for telecom companies. It influences telecom extensively on various aspects of the industry. AI is used in the telecom sector to develop AI-based assistants and robots, which are vital in the improvement of customer service.
The largest of telecoms rely on Artificial Intelligence in numerous ways:
- Customer Service and Satisfaction
- Predictive Maintenance and Improve Network Optimization
- Robotic Process Automation
- Fraud Detection
AI delivers tangible business results in these areas. That’s why it is included in the telecom trends.
Internet of Things (IoT)
Most of the players in the telecom industry have increased the adoption of IoT because of its benefits.
Advantages of adopting IoT:
- Enable operators to monitor their data centers remotely
- IoT devices allow businesses to streamline operations & increase profitability
- IoT is a game-changer for businesses that strive to access the revenue-producing power of digital services
- Over 60% of the organizations are currently using IoT.
- 83% of the organizations that have introduced IoT technology have improved their efficiency.
Smart cities take a step towards IoT by creating an interconnected network that can access online via mobile devices by the residents. IoT provides an ease to the users to manage their daily activities. The aim of smart cities is to create a better quality of life through smart technology. For providing such smart technology, IoT is needed.
The reason for the increase in the adoption of IoT and being in the telecom trends is increased revenue acquired by network carriers. Such adoption of IoT sets the trends in telecom as well as transform the entire industry.
Cloud Computing – Fly high with cloud service
Cloud is the wider IT industry trend now-a-days. Cloud-based telco offerings are growing in more and more numbers. Cloud computing’s pay-per-use service model helps telecoms in introducing new services, reduce costs and efficiently increase market demands. The cloud offers scalability and cost-effectiveness to the telecom industry. It is one of the most important telecom trends.
Migrating to the cloud reduces internal computing resource needs as well as internal costs while increasing revenue streams.
OTT Services – Revenue Bolster
OTT services play a pivotal role in the year 2019 and continue to grow in the further year. OTT services are the fastest-growing and growth driven service for the telcos. The growing impact of OTT on telcos’ is phenomenal. OTT solution providers, in order to bolster revenues, offset downward price pressures on last-mile connectivity and build customer loyalty.
With advances in technology such as smartphones, high-speed IP networks, and open-source platforms are all fuelling the increase in adoption of OTT Services. Operators can unlock new revenue opportunities by integrating their broadband plans with OTT services.
Let Height8 help you to follow the trends and take your business to the next level!