[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/www.the-future-of-commerce.com\/2019\/02\/25\/top-telco-trends-2019\/#BlogPosting","mainEntityOfPage":"https:\/\/www.the-future-of-commerce.com\/2019\/02\/25\/top-telco-trends-2019\/","headline":"Telco trends and transformation priorities: An industry shifts","name":"Telco trends and transformation priorities: An industry shifts","description":"In 2019, telco companies are feeling the pressure to make technology investments while focusing on devising business models to monetize 5G.","datePublished":"2019-02-25","dateModified":"2024-07-02","author":{"@type":"Person","@id":"https:\/\/www.the-future-of-commerce.com\/contributor\/sandeep-chowdhury\/#Person","name":"Sandeep Chowdhury","url":"https:\/\/www.the-future-of-commerce.com\/contributor\/sandeep-chowdhury\/","identifier":281,"image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/e7d4066ab46d7a1d960176e6ca4e350c627bbaac372e06869e62e47e4c7aa6a1?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e7d4066ab46d7a1d960176e6ca4e350c627bbaac372e06869e62e47e4c7aa6a1?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"The Future of Commerce","logo":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2023\/01\/logo-foc-schema-app-1.png","width":172,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2019\/02\/thumbnail-3ac78ae8dc4ab8e78d3937d8a6b35326.jpeg","url":"https:\/\/www.the-future-of-commerce.com\/wp-content\/uploads\/2019\/02\/thumbnail-3ac78ae8dc4ab8e78d3937d8a6b35326.jpeg","height":375,"width":1200},"url":"https:\/\/www.the-future-of-commerce.com\/2019\/02\/25\/top-telco-trends-2019\/","about":[{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/","name":"Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Commerce","http:\/\/www.wikidata.org\/entity\/Q26643"]},"Industries",{"@type":"Thing","@id":"https:\/\/www.the-future-of-commerce.com\/commerce\/mobile\/","name":"Mobile Commerce","sameAs":["https:\/\/en.wikipedia.org\/wiki\/Mobile_commerce","http:\/\/www.wikidata.org\/entity\/Q1154408"]},"Telco"],"wordCount":1080,"keywords":["Telco"],"articleBody":"Telco companies are feeling the pressure to make technology investments while focusing on devising business models to monetize 5G, and other opportunities – and all of these things are driving the telco trends within the industry.Once available, 5G will create significant revenue-generating opportunities in the fixed broadband and business-to-business arenas\u2014including smart cities, the connected home, and Internet of Things (IoT).The big challenge will be realigning business and revenue models to support a raft of new services without losing focus on streamlining processes to cope with the anticipated growth in workloads.Telco trendsLet\u2019s take a look at the top telco trends predicted to shape the sector:1.) Accelerating cloud adoptionTelecommunication companies are leveraging the scale and agility of cloud to virtualize networks, rapidly introduce innovation, and embrace IoT opportunities. That includes investing in cloud platforms to deliver new digital services\u2014including OTT content, SaaS applications, and cloud-based unified communication services.Moving ahead, expect to see cloud become increasingly embedded in business processes as telecommunication companies strive to manage and automate their omnichannel interactions with customers and mine big data to tap into additional revenue opportunities.2.) 5G gets realEnergy, agriculture, transport, healthcare, and manufacturers are all poised to seize on the potential offered by 5G and IoT technologies as they become mainstream. The advent of 5G will see telecommunication companies partnering with other providers to capture new market opportunities \u2014smart city technologies, fleet management, predictive maintenance, data collection and analytics, blockchain \u2014 as well as becoming primary OTT providers in their own right.5G will create a wide range of opportunities – everything from machine-to-machine services and autonomous vehicles to remote healthcare and innovative video delivery services. With their 5G expanded capabilities, telco\u2019s will need to invest in technology to create go-to-market models that capture 5G-IoT business potential.3.) Ecosystem value creationTo take advantage of IoT opportunities, telecommunication companies will need to do more than just make an API to their IoT platform available. They\u2019ll need to seamlessly orchestrate an ecosystem of independent partners who together create value. Alongside enabling complex integration capabilities and the secure exchange of data, operators will also need the right decision and management systems to support a variety of revenue sharing models.Finally, in addition to enabling virtual monetization schemas that support automated service delivery, telecommunication companies will also need to become adept at handling complex and extended customer value chains.4.) Mind the margin \u2013 the new commercial imperative within telco trendsRevenue growth is no longer the only game in town, which explains why we\u2019re witnessing the rise of business plans based on IMPU (individual margin per user) rather than ARPU (average revenue per user).It\u2019s a trend that\u2019s set to continue as telecom operators initiate digital service portfolios, where direct costs and performance must be governed closely if profitability is to be maintained. To keep an eye on margin, telecommunication companies will increasingly leverage the data they already hold \u2014using analytics and machine learning to gain insights into product, asset, and customer profitability.5.) Privacy and digital identity move centre stagePrivacy and identity theft will continue to be a critical issue for providers in 2019. In an age where data security is directly linked with customer satisfaction, telco\u2019s ability to offer greater visibility and control of personal data in exchange for personalized services and advertising will win.With eSIM technologies set to take IoT and mobile connectivity to a new level, telco operators need to understand their digital customer management capabilities, which means blockchain is about to move centre stage.6.) Blockchain \u2013 unlocking the potentialBlockchain will impact all core management systems and services, providing opportunities for efficiency gains and revenue growth through new value propositions. Telco operators should be seizing opportunities to implement blockchain for data and value exchange to reduce fraud, and unleash new revenue generating eSIM \u2018identity-as-a-service\u2019 type services.Blockchain combined with eSIM provisioning will be the key to enabling new revenue streams, service efficiencies and superior customer experiences. Enabling interoperability between internal and external systems, while increasing transparency and effectiveness in operational processes.7.) Get ready for more industry convergenceToday\u2019s telecommunication companies are at the forefront of rapid innovations in the field of fintech, mobile payments, location-based data services, and more. As money \u2018goes mobile\u2019, expect to see more telecommunication companies grasp financial services sector and initiate new alliances that enable real-time payments for individuals and enterprises.It\u2019s a similar story where media services, health and smart automation are concerned, as telco\u2019s leverage their diverse portfolio of assets\u2014everything from connectivity and secure IT infrastructures to an online, retail, and call centre presence as well as impressive CRM, billing, and data analytics platforms\u2014to seize on new potential markets.8.) New digital rules of CX engagementWith convenience and speed topping the consumer agenda, telecom providers need to get ready for digital-first customer service and engagement. In 2019, self-service will surpass human support as growing numbers of customers look to take care of business themselves. Prepare for more live chat and co-browsing that supports customers during the buying process.Providers will need to seamlessly blend their automated and assisted services, ensuring that information relating to an automated interaction is not lost should a human agent have to step in to help.9.) Revolutionizing field serviceIn an era when the provision of services built around smart home offerings will require new approaches to the delivery of flexible and fast on-site customer support, telco operators are taking advantage of the gig economy and using \u2018crowd service\u2019 to create a vast service ecosystem that can respond to customer service requests faster \u2014 and at a much lower cost.10.) Using AI in new, more creative waysUntil now, much of the buzz around AI has been about the use of chatbots and virtual assistants in customer service environments, but increasingly we\u2019ll see telecommunication companies using machine learning to enable intelligent search and solution recommendations, automated ticket categorization, intelligent \u2018call routing\u2019, and the optimization of field service resources. Similarly, robotic process automation will be deployed to streamline complex case management and highly repetitive service process workflows.We\u2019re on the brink of a new era, where \u2018Intelligent Connectivity\u2019 \u2014 enabled the convergence of high-speed 5G networks, IoT and AI \u2014 will unleash highly contextualized and personalized experiences that will define the future of the industry.  When it comes to telco challenges, we’ve got the solutions. But don’t take our word for it \u2013 discover real-life examples of telco transformations HERE."},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"2019","item":"https:\/\/www.the-future-of-commerce.com\/2019\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"02","item":"https:\/\/www.the-future-of-commerce.com\/2019\/\/02\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"25","item":"https:\/\/www.the-future-of-commerce.com\/2019\/\/02\/\/25\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"Telco trends and transformation priorities: An industry shifts","item":"https:\/\/www.the-future-of-commerce.com\/2019\/02\/25\/top-telco-trends-2019\/#breadcrumbitem"}]}]