It’s almost time to ring in the New Year! This means new goals, new obstacles and new accomplishments. As we set our sights on upcoming objectives, we should also reflect on the game-changing telecommunications trends of 2015. Based on what we saw, we chose two words to describe the past year in telecom: Adaptability and Innovation.
This was a landmark year in a variety of ways. Namely, the telecommunications industry has had to face several major shifts in consumer habits and operational processes. Adaptability is the key to ensuring providers’ success as these dynamics continue to evolve. Here are three trends that have kept providers on their toes over the last year:
Cyber Security
More than ever before, providers are playing a pivotal role in preventing and fighting new threats to security. Customers expect advanced protection from their carriers, especially in the wake of several high-profile cyber security gaffes in 2015. Providers now have to adapt to heightened expectations with new operational measures and technologies. The smartest providers have gotten ahead of the issue, knowing that the cost of resolving a security breach is far greater than the cost of implementing preventative measures to begin with.
Mobility
Mobile connectivity is significantly outpacing fixed line connectivity. While the market in the U.S. is saturated, wireless providers have seen exponential growth in data services. Pair this with the introduction of new wireless devices, decreasing prices and increasing internet traffic, and you can see how the mobile market truly dominated 2015. Rural providers are now embracing wireless service, as it’s becoming a convenient and economical option for their populations.
Over-the-Top Services
Over-the-top (OTT) services have begun encroaching on the telecom industry. As more and more Americans resort to cable-cutting, providers have had to adjust with agile solutions. Some have opted to compensate for lost revenue with alternative markets (by concentrating on business customers, for example) while other companies have decided to participate in the emerging trend. By integrating with OTT services or offering comparable applications, providers are evolving alongside OTT players to profit from this increasingly valued and popular service.
Adaptability is vital for a company’s longevity, but so is innovation. Come back on Thursday to learn about three more trends that have spurred telecommunications providers to develop creative solutions.