The fifth-generation (5G) and wireless technologies are expected to dominate the year 2020. Based on market analysis it is critical that telecommunication companies make investments in the latest technologies, as well as should continue to focus on developing business models to monetize 5G and other opportunities. Telecom providers must look to benefit from voice-assisted technology and IoT in 2020.
Here is a list of 5 major technology trends that are predicted to lead the development in telecommunication in the year 2020.
It has already been shown that being competitive on the IoT market would require more than just cool phones and that IoT will be more than just a way to switch on the A / C from an iPhone. The IoT will become a full ecosystem that links everything we do to the electrical grid, from home to the automobile, to the workplace. Telecoms tend to be keenly aware of the potential ? the industry ranked fourth in IoT investment in 2015, contributing almost $111 million to IoT pursuits.
Internet of Things technology helps remotely track base stations and data centers through telecommunications. It helps to provide the network with minimal downtime. Since telecom is so instrumental in supplying IoT infrastructure, the industry is exceptional in its ability to develop and deliver its own IoT services.
The pay-per-use service model of cloud computing allows telecoms to introduce new technologies, reduce their costs, and more efficiently respond to market demands. The cloud provides telecommunications with economies of scale, scalability, and cost-effectiveness.
Telecoms cannot only be a cloud service provider but can also use the cloud itself. You benefit from the flexibility of the cloud as telecoms embrace cloud technology and shift essential business functions to the cloud.
Potentially, we can use the cloud to offer higher quality, more versatile, and efficient enterprise IT services at a lower cost than on-site solutions. On the consumer side, telecom providers have a massive opportunity to offer more cloud-based services that can be accessed, modified, or purchased from anywhere.
It is clear that telecommunications companies capture and produce data volumes from mobile devices and applications, wearables, and more ? wireless data is expected to continue to grow through the 2020s? but it will be the businesses that use it to retain their competitive advantage. Telecommunications companies must ensure that their networks are able to efficiently transfer vast amounts of data across their network and continue to support new technologies.
5G is expected to create significant business opportunities for telecommunications companies to help them earn revenue on the fixed broadband market and business-to-business opportunities such as smart cities and the Internet of Things (IoT).
This will also provide the ideal environment for telecommunications companies to use "network slicing" to optimize their offerings. In 5G, this will allow sharing of a given physical network to run IoT, mobile broadband, and very low latency applications, including many connected-car and connected-home functions that have the potential to create entirely new sources of revenue for providers in 2020.
Telecommunications is one of many sectors using artificial intelligence in various business aspects. Telecommunications companies improve customer service and satisfaction through virtual assistants and chatbots, and the artificial intelligence that runs these tools behind the scenes. Artificial intelligence is necessary for networks of telecommunications companies to be automated and predictive preserved.