The telecom industry is expected to dramatically change in 2019. Some of these changes will lead to further opportunities for businesses operating in this sector, such as 5G growth, while others will present challenges, including trends in the Cyber Security. It is important for business managers to be aware of business trends in 2019 that will affect their companies. So, let's take a lot at some of the latest changes that are certain to rock the telecom world.
5G Growth
5G is the latest in terms of cellular mobile communications. It targets a higher system capacity, high data rate, as well as cost savings and energy savings. 5G technology is targeting reduced latency, making it faster than all 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.
It is believed that the leaders in the telecommunications industry will begin to enable 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. This new connection makes it possible for hardware and software to be detached, which means that ad insertion and cashing will now 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 the 5G is going to shine in terms of the broadcasting industry, thanks to the wireless technology being more secure, faster, and more reliable.
The telecommunications industry is also going to benefit from better security and scalability with the new 5G communication.
Increase in the Contingent Workforce
Recent reports have revealed a staggering increase in the support and popularity of a contingent workforce across all industries, including telecommunications. Indeed, the number of employees operating as independent contractors has increased by a tremendous 27% than employees who are on a payroll.
Telecom companies should be ready to embrace this outsourcing opportunity. It offers an option that will allow them to bring customers and customers more efficiently while ensuring that costs can be kept low. Outsourcing trends in the telecom industry will lead to a reduction in the level of overhead costs for companies that will be able to rely on contingent workforce without the need to provide incentives or benefits to employees. Being able to tap into a local team will ensure that customers can quickly get solutions that they need, rather than waiting for days or even weeks.
Ultimately, a new reliance is a contingent workforce going to redefine operations in the telecom industry and lead to fresh opportunities for business. The talent is already available and ready on the market with field engineers who have advanced degrees, capable of fulfilling jobs in 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.
Cyber Security Concerns
Cybercrime is on the rise with experts predicting that by 2020 a cyber-crime will happen every 20 seconds. Large, medium and small companies will be impacted and targeted in the future, so it is crucial that appropriate protective measures are in place. The telecom industry will play a particularly important role as businesses become more dependent on sharing and storing client data. Telecom companies will need to ensure that they provide the right level of support and solutions that businesses need to keep customer data safe. This could include a set of software such as firewalls as well as other systems to block hacks and limit 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 interconnected nature and dependence on international standards. An example of this would be the SS7 protocol used by the late 70's to facilitate roaming or delivery of texts and calls. This actually includes a variety of vulnerabilities that allow text and numbers to be accessed or diverted by attackers.
Furthermore, Internet routers have been using the Border Gateway Protocol, which is also known to have serious issues and routers can be used to redirect traffic towards bad actors. Even home routers using 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 address these issues in the future. This is due to the fact that governments are becoming more focused on consumer data protection, as seen by GDPR is Europe. Regulations like this are expected to become more common with serious consequences for telecom businesses that do not raise the challenge of protecting their customers.
Future Trends
2018 has been another vital year for the top service growth. This has been fuelled by users of non-linear media consumption more than ever before. Due to this, there has been more financial pressure placed on network operators. Now that 5G is on the horizon, there has been further efforts from service providers to become the 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 the existing triple and quad play providers, over the top operator led services have expanded the market. Not only this, but some of the global spends has now been directed back to some of the underlying network. It has been estimated that the global over the top spending will be $ 62 billion by 2020.
As you can see, the world of telecommunications is expected to dramatically change over the next few years. You can now understand the future trends of 2019 in your industry and tap into the future with Field Engineer's on-demand workforce !
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