There is no doubt that Telecoms played a crucial role for both individuals and businesses during the pandemic. However, global growth rates for the Telecoms sector showed a low increase over this period, whereas now a rebound seems to be occurring, indicating moderate growth with the potential for further improvement in the coming years. Let’s take a look at where this shift in trend is coming from and also in which areas there are now significant growth opportunities for Telecoms providers.
What explains the rebound we are experiencing?
The latest statistics reveal that Telecoms services revenues showed an overall growth of 3.08% between 2020 and 2021, with B2C services even reaching 4.08%. This rebound is probably happening due to the fact that consumers are gradually re-establishing their purchasing confidence, and also thanks mainly to the reality that the digitalization tendencies adopted amid the global pandemic continue to be helpful and relevant. After an extended period of uncertainty, people are starting to feel a little more financially secure, and they are therefore investing in upgrading their connectivity devices, as well as in new Telecoms services for work and entertainment purposes. It is fair to say that the familiarity that has occurred over this span of time between customers and technology is a tremendous advantage for Telecoms providers, which will only continue to bear fruit.
Nevertheless, some Telecoms services sectors and types – quite understandably – present greater growth opportunities than others, and thus are well worth exploring in more detail.
B2B Services
Figures and statements made by communication service providers in the industry suggest that services targeting B2B markets have the potential to generate considerable profits.
A few examples of these include cloud services, sale terminals, and security solutions, but also more complex service models, such as smart agriculture products. In addition to generating higher earnings, such proposals pave the way for other, even more, sophisticated services that could yield positive results.
Connectivity Services
An even greater potential for economic and overall business growth is also offered by connectivity services in their entirety. This should not come as a major surprise, given that connectivity services continue to be of substantial value to all, whether from a personal or business perspective. End-to-end Services
Last but not least, it is widely acknowledged that the best prospects for profit and broader growth seem to lie in the future of Telecoms providers that offer end-to-end services, either to corporations or the general public. The number of needs that find solutions through Telecoms is constantly increasing. Consequently, providers that are able to deliver integrated services covering the full range of these needs are expected to receive a warm response from the consumer population.
What we can gather from the facts mentioned above is that, although the Telecoms’ “numbers” may not always be on the rise, the position of this industry in the market and in all our lives is unshakeable. There are always ways to grow with fresh, innovative concepts. Hence, the current situation could not be an exception.
