Trends and predictions for the telecom industry show that things will not show any signs of slowing down in 2019. Solutions such as 5G wireless, deeper mobile entrenchment, artificial intelligence integration, data management, and cloud computing will dramatically change consumer use.
Some key telecom industry developments include:
- US spending of over $1 trillion on IoT over the next few years
- A rapidly increasing rate of shipment of mobile IoT devices
- Cloud computing is a fast-growing area for the IT sector
- Big data solutions are merging with AI capabilities for better data management
- AI has great potential for smartphone device manufacturers
- AI and 5G will be important innovations
5G is the new star
“Speed remains top-of-mind for consumers. Providers that cannot compete on speed will lose out if they cannot differentiate through other key features that consumers value when it comes to their Internet service. Looking ahead, expect to see providers cut through the network claims ‘noise’ by featuring ways their 5G or hyper-speed Internet can positively impact the lives of individuals or communities, offering new content or Internet of Things bundles, and providing superior customer service,” said Emily Groch, Director of Insights, Telecommunications, at Mintel Comperemedia.
Consumer marketing should also be fast and furious to keep up with the 5G pace as well as competitors. Those brands that can provide strong differentiation in their messaging will be able to entice new customers and keep them through enhanced user experiences and creative service bundles.
New mobile markets will sign on for better services
The saturation of the mobile phone market forces telecom companies to think about new markets such as seniors who have not yet adopted mobile technology. Faster 5G wireless will offer them unmatched speed and more affordability—two critical points of entry for this challenging market. This demographic will be open to other connected devices for the home but mobile is a great entry point.
“Wide-scale adoption of 5G devices will take time, but we believe 2019 will be the starting point for sweeping change for the wireless industry,” says Craig Wigginton, Deloitte Global Telecommunications sector leader. “5G can provide hundredfold increases in traffic capacity and network efficiency over 4G, and this has transformative potential on the future of connectivity worldwide.”
Savvy marketers will capitalize on this new market trend by ramping up communications to potential new markets with special offers, bundles and special use cases.
Artificial intelligence will revolutionize telecom operations
Always improving customer experiences is important for all businesses, but in the telecom industry, it can mean huge customer churn if customers aren’t getting the personalized, relevant experiences they have come to expect. A lot of that stems from big data with AI entering the picture for better analytics and actionable insights.
Gartner forecasts that by 2020, there will be 20.4 billion connected devices in use worldwide and communications service providers are recognizing the value of AI apps in the telecom industry. AI has already had significant impact in areas such as network optimization, preventive maintenance, virtual assistants and robotic process automation (RPA).
Marketers will have access to better analytics due to big data and AI. Real-time actionable insights will allow them to manage messaging to alter the course of a campaign which can produce more favorable results and better campaign ROI.
2019 sounds like it’s going to be a remarkable year for the telecom industry and marketers can take advantage of new prospects and technology to manage campaigns and create long-term customer relationships.