Trends and predictions within the telecommunications industry are not only of interest to me because of my line of work. They are inherently fascinating to me because changes in telecom are direct reflections of how society as a whole is changing. It’s interesting to debate whether societal changes are the catalyst to technological change or if the seemingly infinite possibilities that technology provides shapes the way society changes. The trends and predictions for the telecom industry are the perfect place to reflect on those intricacies.
In my last post, we touched on the trends of increased cybersecurity and the growth of Wi-Fi calls. There are a few very other interesting telecommunications trends to look out for in the coming months.
MultiNational Business Will Become the Focus for Major Telecommunications Providers
For decades, telecom companies were focusing on catering to the small and midsize businesses of the world. But recently, telecom providers have started to focus on Goliath, multinational businesses within the consumer markets; that’s where the money is.
By default, small and midsize businesses require more legwork (ie: customer service) from telecommunications providers than the multinational companies. Not only that, but they will require the same type/level of service that larger corporations require, but within a price range that works for their means. This is an ongoing issue with SMBs becoming increasingly underserved within the telecom industry.
IoT (Internet of Things) Will Continue to Grow In Relevance
Talk of IoT continues to grow, with no signs of slowing down. Consumers are starting to catch on, and the demand for a true Internet of Things is becoming audible. Companies are scrambling to catch up and put out the products that the people are demanding. Homes, cars, and accessories are being developed with more connectivity options built right in.
Information and Communications Technology Vendors see the IoT as being an industry with huge promises of growth and continue to put funds towards R&D for the Internet of Things. But the true observations of what works and what is needed will be seen through the successes (and failures) of the applications and products that were developed specifically for the IoT.
Applications Will Develop Their Own Economy
This is loosely tied to the above-mentioned trend. Hundreds of billions of applications are being downloaded annually. Applications are increasingly becoming more popular, and they are not just for phones. Businesses are investing in applications for communications and collaboration, and apps are quickly becoming an entire business sector of their own.