The telecommunications industry includes companies that operate networks that people, and businesses use to communicate, as well as companies that manufacture communication equipment and software. The industry includes providers of mobile and or fixed (landline) telephone, internet, and other forms of communication, such as satellite and cable television.
The telecommunications industry is regulated by government agencies to ensure fair competition and protect the interests of consumers. In many countries, there are also public utilities that provide basic telecommunications services, such as telephone service, to underserved or remote areas.
Spend in the telecommunications services industry is anticipated to reach 1.505 trillion U.S. dollars in 2023
The total revenue opportunity for mobile operators created by Value-Added Services (VAS) is expected to reach 120 billion U.S. dollars by 2024
By 2026, the Mobile Virtual Network Operator (MVNO) space is expected to be valued at 91.63 billion U.S. dollars globally
For Telecommunications Companies, Competition Is Tougher Than Ever
The telecommunications industry has undergone significant changes in recent years, with the rise of the internet and the proliferation of smartphones and other mobile devices. These changes have led to the emergence of new forms of communication, such as over-the-top (OTT) services, which are delivered over the internet and bypass traditional telecommunications networks.
The telecommunications industry is constantly evolving, and it can be difficult to predict exactly where it is headed. However, some trends that are currently shaping the industry include:
The rise of 5G
The deployment of 5G networks is expected to drive significant changes in the telecommunications industry. 5G is expected to enable new applications and services, such as the Internet of Things (IoT), virtual and augmented reality, and autonomous vehicles, and could also lead to the development of new business models.
The MVNE / MVNO market has grown significantly in recent years, as more and more consumers are looking for alternative ways to access mobile phone services. MVNEs & MVNOs operate in many countries around the world and have become an important part of the telecommunications industry.
The continued growth of the internet
The internet continues to be a major driver of change in the telecommunications industry. The proliferation of mobile devices and the increasing availability of high-speed internet access are driving the development of new services and applications, such as OTT services, that rely on connectivity.
Optimize, Update, Renew & replace
Some telecom companies are already active the telecommunications industry for a long time and because of this (still) make use of old big, dedicated legacy systems and solutions. These need to be renewed in the coming years to offer; new services, save costs, for compliancy, security, enable Cloud (private or public).
The emergence of new players
The telecommunications industry is seeing the emergence of new players, such as, OTT providers and tech giants, that are challenging traditional telecom companies. These companies are using their expertise in areas such as software development and data analytics to enter the market and offer new services.
There has been a trend towards consolidation in the telecommunications industry, with larger companies acquiring smaller ones, entering into partnerships or launch MVNE/O to expand their market reach and capabilities. This trend is expected to continue as companies look for ways to compete in a changing market.
Livecom Products and Solutions
Livecom offers a suite of products and solutions for the Telecommunications industry which will help them to be prepared for the future.
Service Delivery Platform
Next Generation Voicemail
Missed Call Alert / Notification
Omni-Channel Contact Center
Interactive Voice Response
Read how we apply these solutions in the Telecom industry and other related topics:
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