December 12, 2018
The telecom industry is expected to change dramatically in 2019. Some of these changes will lead to further possibilities for growth to businesses operating in this sector such as 5G development, while other changes will present additional challenges such as cyber security threats. It’s important for business managers to be aware of business trends in 2019 that will impact their companies. This article will be addressing the latest changes that are certain to rock the telecom world.
5G is the latest in terms of cellular mobile communications. It targets a higher system capacity, high data rate, as well as cost reduction and energy saving. 5G technology is targeting reduced latency, making it faster than all of the previous connections such as 4G and 3G. It is estimated that by the end of 2024, 1.5 billion people are going to be using the 5G connection.
Currently, the leaders in the telecommunications industry are reported to be enabling 5G on devices between 2018-2021. Many companies chase the ‘G’s’ in order to increase their revenue growth, however speed is not the only thing that needs to be focused on. This new connection makes it possible for the hardware and software to be detached which means that ad-insertion and cashing are now going to be possible.
The demand in the market for live streaming from mobile devices means that fast and reliable wireless connections are essential. This is where 5G is going to shine in terms of the broadcasting industry, thanks to the wireless technology being faster, more secure, and more reliable. Additionally, the telecommunications industry will benefit from better security and scalability with the new 5G communication.
Recent reports have revealed a staggering increase in the support and popularity of a contingent workforce within the telecommunication industry. In fact, the number of workers operating as independent contractors has increased by a significant 27%.
Telecom companies should be ready to embrace this outsourcing possibility. Freelancers present an option that will allow the telecom industry to bring higher levels of efficiency to clients and customers while also ensuring that costs can be kept low. Outsourcing trends in the telecom industry has led to a reduction in the level of overhead costs for companies, since they are able to rely on a contingent workforce without the need to provide incentives or benefits to employees. Furthermore, being able to tap into a local team will ensure that clients can gain the solutions they need immediately rather than waiting days or even weeks.
Ultimately a new reliance on a contingent workforce is going to redefine operations in the telecom industry and lead to fresh possibilities for business. The talent is already available and ready on the market with field engineers who have advanced degrees, capable of fulfilling jobs on a wide range of telecom projects. Experts predict that contingent workforces will soon outnumber the level of permanent employees in the US and the telecom sector will not be left behind.
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Cybercrime is on the rise with experts predicting that by 2020, a cyber-crime will occur every 20 seconds. Companies of all sizes will be impacted and targeted in the future, so it is crucial that the right protective measures are in place. The telecom industry will play a particularly significant role as businesses become more reliant on sharing and storing client data. Telecom companies will need to ensure that they are providing the right level of support and the solutions that businesses need to keep client data safe. This could include software such as firewalls, as well as other systems to block hackers and restrict access to sensitive data on computer systems.
As well as being linked to the sharing and storage of data, telecom companies are also exposed due to the interconnected nature and reliance on international standards. An example of this would be the SS7 protocol created in the late 70’s to facilitate the roaming or delivery of texts and calls. This actually includes a variety of vulnerabilities which allow texts and numbers to be accessed or diverted by attackers.
Additionally, internet routers use the Border Gateway Protocol which is known to have serious issues since routers can be used to redirect traffic towards bad actors. Even home routers being used by the general public have been targeted. In the past, coordinated attacks have triggered DDOS issues with various key networks including Netflix, PayPal and Spotify.
While problems with these systems have not been resolved, there will be an increased need to tackle the issues in the future. This is due to the fact that governments are becoming more focused on the protection of consumer data, as seen by the GDPR is Europe. Regulations like this are expected to become more common with serious consequences for telecom businesses that do not rise to the challenge to protect the customers of clients.
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2018 has been another vital year for over the top service growth. This has been fueled by users streaming videos more frequently, and a higher public demand than ever for nonlinear media consumption. Due to this, there has been increased financial pressure placed on network operators. Now that 5G is on the horizon, there have been further efforts from service providers to become primary over-the-top solution providers. This has been done to boost revenue, and build customer loyalty.
These telecom digital trends have meant that across existing triple and quad play providers, over-the-top operator led services have expanded the market. Not only this, but some of the global spend has now been directed back to some of the underlying networks. It has been estimated that the global over-the-top spend is going to be $62 billion by 2020.
As you can see, the world of telecommunications is expected to change dramatically over the next few years. Understand the future trends of 2019 in your industry and tap into the future with Field Engineer’s on-demand workforce!