Telecommunication industry is one part of the larger information and communications technology. It is made up of telecommunication companies and internet service providers. These companies make communication possible on a global scale, says Investopedia. They created the infrastructure that allows data in words, audio or video to be sent anywhere in the world. The advancements, evolution, and development in mobile communications and information industry are also parts of telecommunication industry.
History of Evolution in Telecom Sector
The telecom sector has evolved from the first mechanical device of the telegraph. Then technology allows for voice calls over large distances, and for a long time this industry solely meant traditional telephone calls. Then it moved towards more forms of networking like text messages and now internet – emails, voice calls, and video calls. Even today, traditional telephone calls generate most revenue for the industry however the focus of consumers is shifting rapidly towards internet calls and videos, which means that the greatest revenue potential is coming from internet.
There are also associated industries like companies selling equipment such as routers, and industries providing services for telecom and equipment, mobile phone manufacturers, internet devices producers and distributors that are also part of telecom industry. The primary evolution for the telecommunications industry has come from the wireless sector. Further expansion is also likely from high-speed fiber-based networks.
According to the Federal Communications Commission (FCC) reports, as of 2018, approximately one-fifth of rural American population still does not have access to broadband networks. However, the monetary capitalization and growth is coming primarily from wireless internet. Data is the big thing in telecommunication industry and shows no signs of slowing down any time soon. In fact the demand for faster, and heavier, data connectivity is on all time rise.
Key Segments within Telecom Industry
Investopedia lists these segments as:
- Wireless communications
- Communications equipment
- Processing systems and products
- Long-distance carriers
- Domestic telecom services
- Foreign telecom services
- Diversified communication services
2019 Telecommunication Industry Outlook
Fifth generation (5G) wireless technologies will be soon unleashing their full potential of augmented and virtual reality. Smart cities are bringing up already and will continue in their growth and IoT will continue to gain popularity in businesses as well. According to Mic Locker, managing director in Deloitte Consulting LLP’s Technology, Media & Telecommunications (TMT) industry practice, it’s critical that as telecommunications companies make technology investments, they also continue to focus on devising business models for monetizing 5G and other opportunities. In 2019, telecom providers should also look to take advantage of voice-assisted technologies and IT, including the connected car and home.
Telecom Industry Outsourcing
Telecommunication industry employs outsourcing in several ways primarily based on the recipient companies, their sizes and their operational strategies. For smaller businesses, outsourcing in this segment means reduction of costs, increased competitiveness, and ability to operate at parity with larger businesses because of improved access to more established research and development teams. Outsourcing enables them to operate at lower labor and operational costs freeing more resources for more revenue generating activities, thereby improving potential for profit and growth.
For larger telcos, outsourcing is more of a need than a mere choice for its benefits. Larger telecommunication companies make for important contributors to national exchequer as well as source for foreign information and technology evolutions and advancements. For such businesses, outsourcing is a means to expand their businesses, both geographically and operationally. This is one of the most effective methods of penetrating foreign markets while keeping costs low and performance high.
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Any dynamic telco will inevitably go through periods of heavy business activity and slowdown. For example, with a change in legislations, the introduction of a new product, or a revamped marketing campaign, there might be massive changes in operational intensity. Instead of having to hire more permanent workforce or investing in new technology for a short period of time, you can turn to outsourcing and increase or decrease operations flexibly.
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