The year 2018 has witnessed the emergence of rapid changes in the global telecommunications market, and the telecom business landscape continues to transform into the industry underpinning the digital, interconnected economy. This evolution of the telecom industry is mainly driven by the ongoing innovations, technological developments, and increasing demands of customers in the mobility sector. The telecom industry is experiencing a continuous period of evolution. In the recent times, telecom operators have witnessed sluggish growth with respect to the mobile customers, a decline in revenues, and dip in the average revenue per user. Operators are more heavily focused on customer retention and churn in the face of decreasing revenues brought about by market saturation and the rise of disruptive technologies. However, the advancements in popular telecom trends such as Big Data, IoT, and Artificial Intelligence (AI) have opened up new avenues for the CSPs in increasing profits and developing processes that are aligned with the requirements of the customers. This has sparked the hope for growth in the industry.
Telecom bridging boundaries with futuristic technologies
With the traffic expansion on the rise, the big challenge for telecom operators is to build the additional infrastructure for new technologies. New services are being deployed on the top of old technologies and device interconnectivity through an Internet of Things (IoT) platform is all the rage. Customers and operators alike are bidding adieu to old technologies such as 2G in the era of 4G, and the demand for network services is going a notch further, wherein operators providing up-to-date services with the latest technologies have become a preferable choice. Telecom services have become as essential for our society and its development as education, a necessity that connects us in many ways at many locations around the globe, and furnishes us with the most updated information from the corners of the earth. Telecom companies are bridging boundaries with the current renaissance happening in the technology space, adopting the futuristic technologies such as Artificial Intelligence, Machine Learning, Augmented Reality, Virtual Reality, 5G, etc.
The advent of 5G: Double-edged sword for CSPs, complex but full of opportunities
It is expected that established players in the telecommunications industry will soon enable 5G in the period between 2018 and 2020. Chasing the G’s of the mobile technology is indeed a good strategy, as with each new wireless standard telecom operators discover new opportunities for revenue growth. But, there are pitfalls in just focusing on the speed increase. The prominent advantage of 5G is that it detaches the network infrastructure hardware and software, which opens up new opportunities for CSPs in ad-insertion, cashing and high-quality content delivery. Since, the mobile live streaming and broadcasting market is quite demanding, and requires fast and reliable wireless connections, 5G appears to be promising for the live broadcasting industry and is expected to provide a faster, more reliable, secure and agile wireless technology. 5G also promises to bring the scalability, trustworthiness, security and universal mobility across the telecom arena, which would boost several services, directly connected to IoT. As a superior mobile broadband technology, 5G aims to empower massive deployment of IoT, offering the network capacity and performance in numerous applications in the most diverse contexts.
The new ball game attracting customers – Augmented & Virtual Reality
Augmented Reality (AR) is gaining more popularity and power with each passing day. The core purpose of AR is to channelize digital visualizations on real images. A number of trendy games use it to make the user experience much more real and enriching. Face filters on Snapchat, Facebook and Instagram are some of the basic examples of the everyday usage of AR. Peaking with the release of the game Pokémon Go, the AR trend is now set to grow even bigger in the upcoming years, thus creating demand for more sophisticated applications. CSPs will also start using Virtual Reality (VR) technologies to reinforce their customer experience. VR-powered platforms will assist operators in providing unique entertainment experiences, helping them differentiate their products and services.
Hottest concept circling the globe – Artificial Intelligence (AI) and Machine Learning (ML)
AI and ML will also play a crucial role in the development of telecom industry since these technologies will help in automating and improving many back-office operations and trivial customer interactions. Customer service automated chatbots, speech recognition systems and voice services for customers as well as predictive maintenance are already being used by some of the biggest telcos around the world. Customer support is the most common and basic service that clients look for when calling their CSP’s call-center. The whole process is a tad bit slow and unpleasant for both sides. Sometimes the customer issue remains, even after the call which drifts away customers from the service providers. Digitization in customer service is the most important game-changing trend; future analytics-based digital support centers enabled with the most sophisticated AI and ML technologies will greatly help in retaining customers and solving their queries. In addition, the self-service capabilities will help customers to solve difficulties on their own, reducing the number of support calls by 90%. It is expected that 75% of the help-desk support queries shall be resolved using self-service based on the current ML-trained knowledge-base. The other 15% can be resolved by using real-time chats with employees or chatbots to answer customer questions. This leaves only the remaining 10% queries, which would be required to be handled by an actual voice call support representative.
NetVelocity network analysis and testing app: The best alternative for CSPs amidst all technological advancements
Trends come and go every year. Some CSPs embrace new technologies and are always ready for the new disruption adoption. But there is something more crucial than this; the key role that the customer plays in the entire puzzle is undeniable. The demands for more efficient telecom services will always keep continuing, despite the emergence and decay of any technology. In this respect, NetVelocity enterprise app acts as a powerful tool in the hands of CSPs for a holistic telecom network analysis and testing. The Enterprise edition of the NetVelocity mobile app assists enterprises to gain a deep visibility into the network performance through passive monitoring, drive capabilities and In-Building tests. Seamlessly meander through the waves of disruption and technologies, and outrun the competition through holistic network analysis and testing with the NetVelocity app!