Contact us anytime to know more - Abhishek P., Founder & CFO CISIN
However, history has shown us that you cannot stay in bunker mode for long. In the end, you'll need to leave. Positively, the signs are pointing upwards and upwards in 2022. We are also seeing a cautiously optimistic degree creeping into the technology sector. The shift in attitude is taking place at the IT professional level as well as among people working in technology, channel firms, suppliers, distributors, vendors, and such. The budgets for tech are projected to grow by 2022, with some reaching the more substantial pre-pandemic levels that were in place in 2019 or even higher. This will mean more possibilities to recruit and complete the skills gaps which have prevented companies from taking on a myriad of challenging goals.
The world ICT market is expected to be 6.6 trillion dollars by 2022 and nearly 8 trillion in 2023. The continuous increase is a reminder of the growing importance and variety of technology in the modern world. An increase in traditional tech spending in the coming years is due to big data and analytics and mobile, social, and cloud computing.
The Telecom Industry in 2022
The telecom industry has played a vital role in our society, allowing us to continue to communicate and collaborate even when it appears that all of the world has stopped. If it wasn't for this, the exchange of information on an international scale could be - if it wasn't impossible, then at the very least, rather difficult. The transfer of data is accomplished via the internet, telephone lines, cables, or wirelessly via audio, words, or video, almost anyplace around the globe. The backing for this venture is provided by satellite manufacturers, phone operators, internet service providers, and cable companies.
With this all in our minds, we cannot but think: "What are the keywords to Telcos future growth?".
The list should include the deployment of 5G, the beginning of 6G cloud computing Internet of Things (IoT), and network optimization.
Telecom Industry Trends for 2022
As the global economic recovery process continues, companies in the telecom sector face new opportunities and challenges in the current digital and competitive world. In the process, they have to reinvent themselves. This time, major changes are anticipated to take place. We look into some major trends in telecommunication solutions for 2022 that will shape the industry.
The endless-seem epidemic has accelerated the adoption of digital technologies and their advancement to a higher. Furthermore, the introduction and continual usage of IoT technologies over a short time frame have revolutionized how businesses operate in our current society.
Focus on 5G Advanced
5G 3GPP Rel-17 is close to the point of the 2022 release date. The focus will change to Rel-18 to define 5G advanced specifications, which is likely to be by 2023's close or in the early 2024 timeframe. In the process of paving the way for 6G 5G-Advanced, it is an evolution of the 5G New Radio (NR) and the core 5G technology.
The expected improvements will bring new capabilities that support the latest applications like Extended Reality technologies driven by Web 3.0, drone control, autonomous self-driving, and cloud gaming. In addition, several performance improvements are expected in areas like beamforming, coverage of uplinks edge computing IoT optimization, and non-terrestrial network.
Automation-Driven Insights to Drive up CSP Revenue
Network complexity and size will rise dramatically with 5G rollouts increasing and billions more devices connected as CSPs concentrate on the new vertical markets such as manufacturing, logistics, and much more. So naturally, this means a lot more data.
It is a blessing that there was never a time when more data could be processed due to the advancements in computing power as well as cloud storage and analytics. Automation can provide insights derived from data at a lower cost and with greater precision than previously. As a result, AI/ML is a vital tool to increase the efficiency of networks and their reliability, as well as enabling CSPs to offer better and more efficient customer interactions that increase profits and help protect market share from rivals.
Network Automation
AI-based techniques can improve automation and eventually enable automated, zero-touch management required to handle millions of devices connected to the internet and manage the demands of new 5G usage scenarios and the increasing network complexity. CSPs have concentrated their AI investments in four major areas, including network optimization, preventive maintenance virtual assistants, network optimization, and Robotic automated process (RPA). In addition, AI is vital to assist CSPs in creating auto-optimizing systems (SONs).
This allows operators to optimize the quality of their network automatically depending on the information provided by traffic in the region or time zone. According to Juniper research, virtual assistants have mastered the art of automating and increasing the number of one-on-one conversations with such efficiency that they could cut the cost of business by around 8 billion annually by 2022.
The applications of ML in telecom have demonstrated tremendous potential for detecting anomalies, root cause analysis, managed services, and network optimization. For managed services, ML techniques can enhance trouble ticket management by categorizing, prioritizing, and escalating the severity of incidents. In addition, capacity planning and retention could be improved with the ability to predict churn understandably.
Acceleration of Cloud Deployments
Gartner's Top Strategic Technology Trends for 2022 report forecasts that in 2025, cloud-based platforms will form the base for over 90% of all new digital initiatives. However, these in 2021 will be less than 40%.
Cloud deployment can bring a wealth of benefits for CSPs. It assists in keeping operational and implementation costs to a minimum. It allows telcos to expand and contract to handle traffic demands and optimize the resources of their networks. It also allows operators to use the "pay as you go" business model (another trend set to increase in popularity by 2022). This means that operators will get faster time to market and reduce expenses since the only cost they incur is the services they require, which ensures they remain relevant in the ever-changing market conditions we're likely to observe.
Cybersecurity
As more advanced technologies like IoT develop, companies will be able to access more customer information than ever before and are expected to offer more customized experiences through this information. Therefore, CSPs must safeguard the data they collect to ensure the trust of their customers. In addition, with the massive increase in cybercrime, it will become more important to have specific standards for each region and compliance from a regulatory point of view.
Security in 2022 will move beyond the conventional approaches 2022 as assets and users are more mobile. This means that we must implement the cybersecurity mesh architecture (CSMA) that helps provide a secure structure to protect all assets regardless of location.
Big Data
IoT allows telecom IT solutions to collect massive data, generating huge data sets thanks to IoT sensors embedded in mobile devices and applications. Therefore, they must ensure that their networks can transfer massive amounts of data effectively and keep supporting emerging technology.
The Telecom industry can use the data collected to create important business insights and understand customers' habits. The data could be used to improve customer service, assess new products, and monitor and optimize the network. Big data helps companies develop stronger businesses and use it to gain competitive advantages.
RPA
The telecom industry is one of the highest acceptance rates of RPA technology. This is because it can provide the highest levels of scalability and agility when it can take over the repetitive tasks and rules-based processes or processes like answering customer inquiries or reports and price tracking. And then completing the tasks very precisely.
It gives the business the necessary power and tools to manage back-office tasks such as maintaining the integrity of data and security, salaries of employees, marketing, advertising, and hardware and software expenses.
Distributed Ledger Technology
In the telecom industry, distributed ledger technology, or DLT, refers to the electronic system used to manage sender IDs and templates. This protocol allows for simultaneous access to and record updates to networks spread across different entities or geographical locations.
Bitcoin was the first to introduce BLT and has demonstrated its potential in various industries. It believes that it has wide-ranging implications for businesses that rely on trusted third parties. DLT eliminates the need for authorities to monitor manipulation. Through encryption, all data is protected by using DLT.
The IT Industry in 2022
The specifics of the technology industry continue to reveal a growing and thriving sector. The most significant characteristic of technology is its extensive impact on the global economy and employment market. In many ways, it is becoming blurred between technological advancement and the indirect impact it exerts on every aspect of business and life.
Information from the consultancy company Bain & Company shows how technology has been a driving force in global economic growth. The most significant growth is attributed to "born technology" businesses that have technology as an integral part of their brand. These companies contribute 52% to the market value growth total from 2015. The remaining 20% of the market value growth has come from firms with a technology-based strategy that complements the more traditional model.
IT Industry Trends Emerging in 2022
The COVID-19 pandemic has drastically intensified the rate of development and the adoption of technological advances in the past 2 years. As a result, the global digital population has risen to reach five billion (over 60 percent of the population). Thus, the latest technology and new technological developments have greater importance than ever in the age of digitalization, where the digital world surpasses all other fields. Here is a list of the most prominent emerging technology trends you must follow and strive to get the most value out of 2022 to progress within your profession.
Cybersecurity Mesh
The Cybersecurity Mesh is a flexible and adaptable design that integrates a variety of dispersed and diverse security solutions.
Cybersecurity mesh lets best-of-breed standalone security solutions cooperate to improve overall security while moving control points closer to assets they're designed to safeguard. In addition, it can quickly and accurately confirm the identity, context, and adherence of policies across cloud and non-cloud settings.
Cloud-Native Platforms
Cloud-native platforms let you build new applications that are resilient, flexible, and flexible, allowing users to react quickly to digital changes.
Cloud-native cloud platforms are a step up from the lift-and-shift method of cloud. However, it does not take advantage of the cloud's benefits and adds complexity to maintenance.
Datafication
Datafication transforms everything we do into gadgets or software powered by data. In short, Datafication is the modification of human tasks and chores into technology driven by data. From smartphones, industrial machines, and office applications to AI-powered appliances and all other things, data will remain more than you will ever imagine! However, to ensure that your data is safe and secure, it must be stored in the right method and safely and securely. As a result, it has turned into an essential part of our industry.
Extended Reality
Extended Reality encompasses all technologies that mimic reality, ranging from Virtual Reality, Augmented Reality to Mixed Reality, and everything else. It's an important technological trend in the present time since we all are looking to escape the real boundaries of the globe. Through the creation of a virtual reality that lacks any tangible existence, it is incredibly well-liked by medical professionals, gamers, and even modeling and retail.
In terms of extended reality, gaming is an essential field for career paths that don't require a high level of qualifications but rather a desire to play online. It is possible to pursue game design, animation, or even editing software to make a career in this area.
Blockchain
In the past, from Dogecoin to NFTs, Blockchain technology has revolutionized the world. Although it is often referred to as an"electronic "ledger," blockchain is an uncentralized database of records that are connected and authentic records.
The total investment in blockchain-related solutions is expected to exceed $19 billion in 2024. Although it is still a relatively early stage in the development of blockchain, it has grown into a major market of its own due to its potential and the huge financial interest in the potential it could bring.
What Future Holds for the IT and the telecom Industry?
The telecom market is predicted to grow to $3450 billion in 2022 due to the rapid growth of smart cities and the rapid growth of markets.
The best prospects in the world telecoms industry will come from the wired telecoms carriers' segment, which will generate $338.8 billion in annual global sales in 2022. Telecom's market-trend-based strategies are cost-effective and speedy internet that uses Wi-Fi, 4G, and developing 5G wireless technologies, and also offering video-on-demand services as well as fixed-line service.
With the advancement of technology and the growing number of government initiatives, the possibilities and scope of the telecoms industry worldwide are predicted to grow over the coming years. The growing investment in wireless communications technologies and the expanding offerings to emerging markets are strategies that you must be watching closely.
As companies prepare for the post-pandemic world, 61% of businesses anticipate that revenues will increase by 2022, and 53% are planning to raise the budget for IT. Technology adoption plans are predicted to return after a pandemic-related lull. The spending will be pushed into new areas since remote work is an essential aspect of the modern business environment even after it's safe to return to the office.
The COVID-19 virus will significantly influence the IT industry, whether directly or indirectly, due to the supply chain or the consequences of higher levels of remote work.
In the coming years, tech marketers must pay attention to shifting IT budgets towards cloud-based services at the cost of hardware and software consulting categories of spending related to infrastructure on-premises. In addition, a larger portion of IT budgets will be allocated to acquiring new technologies and security solutions that are useful in modernizing processes and supporting remote workers.
The remote work environment and technology allow it to offer new career opportunities to IT professionals. In 2022, about 4 out of 4 people are likely to seek employment opportunities with the company of their choice. The fact that you can work from anywhere is more accepted; 86% of job applicants will think about seeking a remote position.
