Telecom is short for Telecommunication. It is the use of Telecom networks for communicating. It can be in the form of voice, media, messages or signals. It is an integral part of a company’s growth. In today’s date it’s almost impossible to work without Telecom services. It is mandatory for communication, advertising, customer relationship management, employee management, etc.
It has 1.17 billion subscribers and the numbers are going up by the day. Reports shown by the Boston Consulting Group (BCG) app downloads in India grew to approx 215% between 2015 - 17. Telecommunication is now affordable for people living in rural areas with low monthly income.
There’s a run-up to 5G in India. While countries like the United States, China and Korea have tested and approved of the network, India is yet to roll out 5G with a minimum time lag by the end of 2019. The future of Telecom industry in India is said to have several opportunities for creating new revenue streams in the next decade.
There are significant business opportunities for the Telecom industry in India. Check the Telecom industry in india analysis image above, you will see that telecommunication is highly important for the development of any country. The connection occurs in many ways at many locations around the globe.
“In the next 3 years, Telecoms will transform their enterprise systems and digital B2C channels into modern and agile platforms. These will provide Telecom employees with analytics-driven operational decision-support capabilities and would deliver seamless back-end integration capabilities through microservices. We believe the top performers would actually go even further: enabling self-service ad-hoc advanced analytics for the vast majority of the user roles and delivering cloud-native containerized business functions.”, says, Krum Daskalov, VP Advanced Analytics and BI, ScaleFocus.
Telecom minister Manoj Sinha, who inaugurated a seminar on FDI in Telecom, too had a similar take. “The Cabinet has already approved a package for the sector, which is at various stages of implementation. The fundamentals of the market are very robust and the phase of consolidation currently going on is almost at the point of end. The sector will grow.”
“India requires investments in developing new technologies and making them accessible as well as affordable for the citizens. We are poised to become the third largest economy over the next two decades and it is an opportune moment for investors across the world to invest in India. Through NDCP, we hope to attract investments worth $100 billion.” the minister added.
According to recent surveys, the period from 2018 to 2021 is supposed to show winning predictive pricing solutions. Various businesses would independently develop their own apps.
The history of Telecom industry in India goes back to the year 1850 with when the industry established its presence in India. There was monopoly in the beginning but as time passed a number of private players flooded the industry. There was a revolutionary change in the rates and the employment in India. Telecom has brought benefits and jobs to the consumers and the unemployed, respectively. While the companies competed the consumers became the beneficiaries, and this is something that was seen in the Telecom industry in india 2018 as well.
1. The Development of Cross-Industry Alliances: Telecom industry is gradually turning towards producing or collaborating with producers of entertainment content. Companies are focusing on high-quality broadcasting and development of apps and offers to retain customers from choosing a different Telecom company with entertainment options. Subscribers are not bound to a single Telecom service provider anymore. The Telecom industry in India is focused on telco-native infrastructure updates.
2. The Unleashing of the Power of 5G: It is said that 5G is going to be launched anytime in or soon after 2019. The opportunities for revenue growth is better with 5G. It offers a better lifestyle and more benefits to the consumers.
Ad insertion and cashing on entertainment offers are already trending in India and abroad. 5G is only going to unleash better network connectivity, better quality, cheaper rates and higher speed.
3. The Update in Regulation of the Telecom Industry: There are several rules and regulations in the Telecom industry that are not being followed accurately by many Telecom companies. There is requirement of a Telecom company to be GDPR-Compliant however that could cost the company millions, and the income earned from the business should be enough for the company to not fall into loss. There have been certain cases the were completely out of the norms, such as the elimination of roaming charges all of a sudden. There are going to be legislative changes and the Telecom industry would be expected to comply.
4. Artificial Intelligence(AI) and Machine Learning(ML) to Take Over: The Telecom industry trends in the next decade is going to be taken over by Artificial Intelligence. Machine Learning is another hot concept that is already trending and that is going to remain among the Telecom industry trends in 2019.
Things like customer service chatbots, automatically responding systems, speech recognition features and more. The benefits of such technologies are brought to your usage.
5. Improved Connectivity: You can now use the internet and also speak to the person you need to while you’re on a flight. This is a true game-changer for airline companies. Connectivity is transforming our daily lives and the ability to use a smartphone while you’re flying is absolutely incredible. Currently there are chances of threats and breaches but by the end of 2019 the high chances of cyber attacks and data compromised is expected to reduce down tremendously.
There are new trends being launched on a monthly basis, and the global Telecom industry overview has been showing great progress. A customer focused attitude can help a company grow to quiet an extent in the Telecommunication industry today.
It is advisable to focus on developing web applications and implementing customer relationship management software services such as Salesforce to ensure that you business is growing in the right direction and is up-to-date with the latest trends in technologies. IT has changed the Telecom industry meaning altogether.
Do not be limited to offering calling facilities, introduce entertainment options, latest news and video calling options. Digitally transform your Telecom business and see exemplary growth in the profits of your business.