telecom
Mobile

5 Trends That Are Transforming The Telecom Industry Right Now

2019 is well underway and we already know about trends that are changing the entire telecom industry. This is exactly what we are talking about in the following paragraphs. Any telecommunication mobile network should be interested in the following trends as they are shaping evolution right now.

Customer Experience Shapes ConversationsChange is driven by demands coming from customers. Businesses now have to reinvent provided services and how they are actually offered. There are over 5 billion users in the mobile industry around the world. Companies simply cannot focus just on technology and networks. Business processes and models have to shift so that customers are faced with a modern digital experience, one that builds wallet share and brand loyalty.

5G Becomes More And More Popular

The commercial availability of 5G is not expected until 2020. However, service providers cannot just wait until this happens. Every single major US carrier works on 5G networks right now. There are even broadband home services available right now.

2019 is definitely the year of 5G and the technology does evolve much faster than anticipated. Latency is getting lower and speed keeps increasing. High-resolution video becomes a reality and 5G can even influence enterprise-specific applications, like machine-type-communications and autonomous vehicles.

Blockchain Connects Content With Consumers

Blockchain technology is instantly associated with cryptocurrencies like Bitcoin. What is not that known is that decentralized, virtual currencies are just the really prevalent uses of blockchains. This year, we saw the growth of blockchain and its influence in practically all industries.

Content sources start to lose their centralization. Content creators can thus reach consumers in a more direct way. This will also influence the telecom industry, with big players actually launching devices that accommodate cryptocurrencies right now.

The Creation Of Smart Cities

2019 should bring in over 10 billion IoT connections. 40% of these are expected to be connections in the industrial setting. Industrial connections are really important to transmit and capture data so that smart cities can be powered. This includes smart grids, metering, heating and smart lighting.

Until now, the networks of the service providers could not or did not have the capacity to handle how much data IoT devices produced. There are more and more devices that come online and 5G networks are now ready to support all new connections. 2019 can bring forth the very first smart city the world sees. Huge hubs are already established in countries like India, the US and China. We just need to see who gets first to the goal of developing a true smart city.

The Evolution Of The Digital Journey

Brands are now realizing the fact that digital transformation should not be seen just as being a blanket term. It simply does not apply to everything or everyone. Every single organization is different. There are unique challenges and needs that exist.

Companies are now forced to embrace an ongoing digital journey. This means a truly flexible approach to innovation is mandatory. This is the only way to support the outcomes of the campaigns ran by businesses, all based on customer benefits. When a business does this and goes on a full digital journey, revenue opportunities are increased and brand loyalty is fostered.