The telecommunications boom: Factors driving industry growth (Reader Forum)
Rapid growth in technology has led to a boom in the telecommunications industry. New advancements pave the way as professionals connect with consumers and keep their businesses running. Whether a small business reaches out via email or pings an app, it all runs smoothly because of a professional behind the scenes ensuring everything is in place and flows without interruption.
Professionals have more opportunities than ever before with the rise of 5G, higher speeds, the Internet of Things (IoT) and advances in artificial intelligence (AI). Here are the top factors driving industry growth and how they apply to what you do.
1. Smartphones are a driving factor
In 2023, there are approximately 4.6 billion smartphone users around the world. By 2028, that number will rise to 5.1 billion. The more people who use smartphones, the more telecommunications professionals will need to tap into the power of these mini, portable computers and be ready to troubleshoot with customers.
Telecommunications people working with a specific program may need to know how to troubleshoot on various devices, for example. Every day, more apps and devices are released into the marketplace. Knowing what’s available and how you can help your customers take advantage of the possibilities puts you at the forefront of your competitors.
2. Increases in data consumption and creation
One area of telecommunication growth is the huge increases in data consumption and creation. In the early days of the internet, information was scarce. Over the years, people started to add to what was available, creating a virtual library of data.
In the last few decades, daily data creation has steadily increased — there are now thousands of new video uploads every hour of every day. The strain on systems is a real issue. While today’s servers hold more and move faster than in the past, telecommunication professionals must stay on their toes to ensure uploads are free of viruses and secure.
3. Understand user needs
A mere 33% of customers feel telecom service providers try to meet their needs. If you can communicate with your customers, you’ll be a step ahead of the competition. Take the time to figure out what user pain points are and the best way to solve them. As you present a stellar experience, you’ll stand out from competitors and develop stronger customer relationships.
Look at customer service call logs to figure out the most common problems they call about. If you can fix the issue before they call, you’ll create a better customer experience and show them you understand their needs.
4. Develop new skills
Since the telecommunications industry is on a growth path, it’s crucial professionals spend time acquiring new skills and staying updated on rising trends. It’s critical to pay attention to news in the industry and figure out what skills you must develop as a professional.
The rising use of cloud-based computing is an area that creates a stumbling block for some companies. If people on your telecommunications theme don’t fully understand how to connect applications with databases, invest in workshops or a freelance professional who can add insight into what you already do.
5. Integrate with IoT
You’ve likely noticed the rise in IoT smart cities across the world. Spending on IoT smart cities equals $6.8 billion per year and is continuing to grow. Figuring out how to implement telecommunications models with smart cities could spur additional growth in the industry.
Telecommunications professionals come into play by working alongside transportation to make it more efficient and monitoring various services via sensors. Ensuring IoT devices operate smoothly entails improving infrastructure to ensure high speeds and reliability.
6. Optimize network performance
Ensuring networks perform at optimum speeds requires looking at factors such as how much traffic hits the system and when. Bottlenecks sometimes occur when capacity is reached. However, if you analyze the patterns, you can see when traffic is the highest and divert the needed resources to meet consumer demand.
Tap into technology to monitor network performance. If something starts to break, you’ll be alerted and can immediately step in and fix any issues. Ideally, the end user never even realizes there is a potential problem because you fix it before it occurs.
7. Adapt to growing remote work
In August and September of 2022, around 27% of people worked remotely at least some of the time. Since the proposition of remote work is quite attractive to many, expect the numbers to increase over time. While not all jobs can be done from home, many can and workers are insisting on the option.
What does more remote work mean for the telecommunications industry? Infrastructure needs improvement, such as accessible high-speed internet, adequate cables and other up-to-date equipment for individuals who work effectively from home. There is also some concern over cybersecurity with people utilizing their own machines to access databases.
Ensuring workers have reliable communication networks via email, cell phones, instant messaging and video conferencing is crucial to successful remote work.
Where will telecommunications growth go in the future?
There’s little doubt the field will continue to grow and companies will rely more and more on communications across a wide variety of platforms to operate their businesses into the future. As 5G technology comes to more and more locations, the use of IoT will continue on an upward trajectory.
Telecommunications encompasses a lot of different elements. It’s crucial for professionals to keep an ear to the ground and be ready to try new inventions and software to see what works best to bring customers the solutions they need.