Building Telecom's Future: Data Demand, Investment Rise
?? A look inside current telecom trends
The telecom industry is at a pivotal moment of transformation, with projections showing the market size nearly doubling by 2034 to USD 4.21 trillion . However, despite this significant growth, telcos face a challenging landscape. Global data consumption is expected to triple, driven largely by video traffic, but revenues from commoditized connectivity services are predicted to grow at a modest pace. While 5G will dominate by 2025, the industry’s future hinges not just on network upgrades but on balancing the massive infrastructure investments required to meet consumer and business demand.?
The rise of IoT holds promise, yet its full potential remains constrained by technological and operational limitations. To unlock this, a collaborative ecosystem of telcos, cloud providers, and integrators is essential, ensuring that both 5G and IoT fulfill their disruptive potential in reshaping global connectivity. The next decade will be crucial as telcos navigate these shifts, investing in future-proof technologies to sustain long-term growth and innovation.
Let’s take a look at some key facts and stats shaping the telecom industry:
?? Telecom's Digital Future: A Dive into Cloud, IoT, and AI
What can technology bring to telecom’s rescue? Can it fuel the digital transformation of the entire industry? Let’s dive into the essentials of telecom’s digital leap.
?? Cloud computing
Migrating to the cloud allows telecom companies to cut infrastructure costs and scale operations efficiently. Cloud platforms enable flexible, on-demand services, faster 5G deployments, and improved customer experiences through edge computing and virtualized network functions.
?? Internet of Things (IoT)
Businesses can leverage IoT to offer new services like smart cities and industrial IoT. Telecoms can benefit from providing reliable, low-latency connectivity, unlocking new business models, and partnering to develop IoT ecosystems to overcome deployment challenges.
?? Software and digital platforms
Telecom companies can leverage digital platforms to automate network management, improve customer service through AI-driven chatbots, and enable predictive maintenance for network infrastructure. Advanced software solutions can also help telcos introduce new digital services like cloud-based gaming, remote work platforms, and connected healthcare.
?? Data analytics technologies
Advanced data analytics allows telcos to optimize network performance, forecast demand, and improve customer targeting. By analyzing data on user behavior, telecom companies can offer personalized services, reduce churn, and develop smarter marketing strategies. Real-time data analytics also helps improve operational efficiency by providing insights into network performance and identifying areas for improvement.
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?? Data management technologies
Efficient data management is critical as telecoms handle vast amounts of data daily. Implementing robust data management systems can improve data security, streamline operations, and help businesses comply with regulations. Moreover, integrating data from different services and IoT devices allows telecoms to unlock new value streams and offer more comprehensive solutions to enterprise clients.
?? Artificial intelligence
Telecom companies are leveraging Generative AI (GenAI) to revolutionize customer service, sales, and operational efficiency. By integrating AI-powered chatbots and assistants, telcos enhance customer support and reduce service times. The strategic implementation of GenAI offers telcos an opportunity to cut costs, improve customer satisfaction, and drive long-term value creation.
?? What we’ve been up to lately?
Euristiq’s strategic partnership with AWS?
We have recently announced our strategic partnership with Amazon Web Services (AWS) and achieved the AWS Partner Certification. This certification highlights our expertise in delivering advanced cloud solutions, enhancing our ability to help customers innovate and scale using AWS.?
A huge thank you to our incredible team for their hard work and to our clients for their continued trust and support. We look forward to driving even greater success together with our enhanced capabilities!
Inspiring experience at Nordic Business Forum?
Iryna Savruk , Euristiq 's Director of Business Development and Partnership, had an exciting time at the Nordic Business Forum Forum 2024 in Helsinki, where top business leaders and innovators from around the world came together. The event was a fantastic opportunity for her to dive into the latest trends in leadership, innovation, and digital transformation!
Charity auction for the “Help A Hero” initiative
At the end of this summer, we marked Ukraine's Independence Day with a heartfelt celebration in the form of a charity auction. This event raised an impressive 400,000 UAH for the "Help a Hero" initiative. Thanks to the generosity of colleagues and 30 partners who contributed 91 lots, this incredible achievement reflects the collective support for Ukraine’s brave defenders. We extend our gratitude to everyone who participated in making such a meaningful impact!
?? Meet Euristiq face-to-face
We’re thrilled to share our team’s upcoming travel plans! Let’s connect in person to explore new business opportunities:
Thank you for reading the latest edition of our "Next in Tech" newsletter and catching up with Euristiq. Stay tuned for more!