Emerging Trends in Business Telecommunications: 3 Major Telecom Impacts on Business
This white paper will examine the overall trends and issues currently trending in the telecom industry. Long-term trends (2014 - 2017), as well as, short-term trends will be examined. Understanding the overall telecom industry trends is essential for all businesses to remain forward looking in an ever changing industry.
There are changes occurring in the telecom industry, which can be seen in the patterns of spending. The specialized services market is forecasted to see the highest rates of growth. The VoIP conversion process has begun, but the rate of growth is forecasted to level off and all gains will be incremental over the next three years. Big Data is more than just a buzz word; in fact, it is reshaping the demand for broadband access.
- The fastest growing market is the specialized services market, which encompasses the sub-markets of machine-to-machine services, cloud computing, and cyber security. Each of these sub-markets posted double-digit growth in 2013.
- VoIP services growth is expected to grow incrementally from 2014 to 2017 as the VoIP early adopters have already converted from POTS. Subsequently, the expectation is that the current POTS base will continue to decline, but at a slower pace.
- Big Data is pervasive and saturated throughout business literature, and the effects are being felt across the telecom industry. In fact, Big Data is dependent not only on increased computing power and software to deal with the exponentially growing size of data; it is also dependent on high bandwidth communications.
The major trends in telecom are having both immediate and far-reaching impacts on telecom companies and virtually all businesses that access telecom networks. Technological advances come in many forms from convenience improvements to transformative advancements that change the way business is conducted.
- The specialized services market is facilitating improvements to the ways and speed at which business communications take place. Additionally, newer technologies like cloud computing are opening the way for new business that may not have been possible previously. With these new communication advancements comes increasing layers of complexity, and businesses without the proper knowledge and planning may become more vulnerable to cyber-attacks.
- It is clear that VoIP is the way of the future for business communications as the FCC and AT&T debate the future demise of the basic copper-based telephone system, or POTS (Plain Old Telephone System). Business leaders must be prepared for this evolving transition.
- Big Data is accessible to large enterprises and small businesses alike. Large corporations can leverage big data to uncover and connect disparate information to improve their businesses. Small businesses can access Big Data through cloud networks to increase their computing power.