Realise - Telecommunications
Current and anticipated changes, in part created by Covid-19, equate to new opportunities for telecom companies. However, there are also challenges on the horizon.
The proliferation of mobile devices, as well as an increase in mobile work solutions and demand for wireless connectivity, are unlikely to decelerate any time soon. New technologies, such as the Internet of Things, AI, robotics - and in a not so distant future smart cities and driverless cars - all increase demand on bandwidth and connectivity. Telecoms are on a trajectory to be much more than ‘just’ the provider of information infrastructure.
Deployment of 5G networks will help telecoms meet future demands, but also represents one of a series of challenges. Deployment of 5G will be costly, and getting it right is by no means easy. Pricing pressure, increased competition – including from non-traditional technology competitors – and increased regulatory requirements are some of the other areas telecoms must address to ensure long-term profitability.
Customer preferences are changing: faster response times, ease-of-use, digital-first and self-service are some of the central customer experience themes. In order to respond effectively, many telecoms will need to increase their focus on internal digital transformation. New collaboration strategies, plays for innovative start-ups, and transformation of business models will become important projects in the near to medium-term. The same applies to internal projects such as implementing data-driven decision frameworks, optimising supply chains, and go-to-market-strategies.
With significant possibilities in mind, companies will be looking to broaden their portfolios, often through acquisitions, potentially restructuring their businesses, as well as adapting to changes in service delivery and regulation.