Contact us anytime to know more - Abhishek P., Founder & CFO CISIN
Statista predicts that the telecom industry will grow by 4.95 percent during the projected period (2022-2028), going from $1.638.78 million in 2022 to $2.346.69 milliards in 2028.
A Glance at the Telecom Industry
Basics of the Telecommunications Industry
In the 21st Century, the telecommunications industry makes global information exchange possible. Cable, satellite, wireless, and Internet service providers are the most important businesses within this industry. These companies are responsible for allowing data to be sent and received anywhere, whether in audio, video, or text format. Telecom software development is essential for many other sectors, such as e-commerce and blockchain. Virtual call centers are also a part of this.
The Impact of COVID-19 on the Telecommunications Industry
Coronavirus has had a significant impact on the telecoms industry. The fact that it is difficult to move around has led people at home to use data more for leisure activities on social media and their jobs. Most people can now work at home using instant messaging, virtual meetings, shared files, smartphones, and desktops. The telecommunications sector has been compelled to provide these digital solutions. The virus has not stopped many companies from working, increasing the telecom industry's consumption.
The telecom industry is improving steadily, and we will see the same trends in unified communication shortly.
Telecom Industry Trends for 2023
Statista's research shows that React.js is the framework of choice for global developers. It is used by over 40% of them, followed by jQuery (34%), Express (24%), and Angular.js (23%).
The telecoms sector is going to undergo a major shift due to 5G technology. Wireless technology from the fifth generation (5G) is faster, more reliable, and has a higher capacity. The technology meets the demand for high-bandwidth applications, such as gaming and streaming video.
The 5G network could enable autonomous cars, IoT services and devices, remote monitoring of health and diagnosis, smart cities, and self-flying drones.
The 2023 Telecom Trends That Will Reshape the Industry
The telecom industry is the backbone of our society, connecting businesses and people. It is essential in practically all of our activities. It faces enormous challenges, forcing businesses to transform and rethink their old business models.
The 5G Revolution is Here!
By 2023, we'll see the introduction of 5G. Telcos are also going to start monetizing 5G.
These revenues are welcome to help support the millions of dollars and billions in investments that telcos have made or still need to invest in BSSs and 5G networks.
The Internet of Things will be Boosted by 5G!
The Internet of Things is another key telecom trend in 2023. 5G technology will enable new IoT services and applications.
IoT is a network of devices that are physically connected to the internet. They can exchange data and communicate. IoT devices, like smart home technology and wearables, are used already. The importance of IoT is derived from the remote access capabilities to data centers and base stations. Most players in the telecom industry are increasing their adoption rate for IoT to take advantage of the technology's advantages.
The telecommunications industry has the best position to provide IoT infrastructure. This will enable the carriers to create their own IoT solutions and sell them in the growing IoT market.
Artificial Intelligence is here!
Artificial Intelligence (AI) will be a major trend in the telecom industry in 2023. AI, or artificial intelligence (AI), is a branch of computer science that deals with creating intelligent machines.
AI can detect and repair network problems and protect networks against fraudulent activities.
The system can predict equipment operation or customer interaction behavior and usage patterns. It can help improve the resolution of possible hardware defects and customer problems, which can affect user experience.
AI can be used to automate certain tasks, make better decisions, and offer personalized service.
We will be seeing more AI in 2023. This includes chatbots, virtual assistants, and other AI-based applications.
Cloud Computing: Now or Never!
Cloud computing is storing and using data and applications via the internet. Scalability and flexibility are just two of the many benefits. We will witness even more telecoms moving to the cloud in 2023.
The telecom industry is moving towards virtual networks, and we can see the massive transition by communication service providers to the cloud.
To operate apps, handle data, and bill services, most telecommunications businesses rely on huge computing infrastructures. Switching to cloud computing reduces on-premises hardware requirements and human resources, lowers operational and investment costs, and increases revenue.
In 2023, cloud computing adoption will increase.
List of Telecoms Needs for 2023
- New services introduced
- Reduce costs to be competitive in a global marketplace
- More effectively adjust to changes in the market demand
Telecoms have increased their use of cloud computing to meet their needs. The cloud service's pay-per-use model allows them to improve or launch new services.
Cloud adoption is also a great way to achieve economies of scale and cost-effectiveness. All things telecoms need to lower costs.
Telecoms, like IoT, can also use cloud services to enhance the efficiency of their business operations. They can also restructure the services to offer them to a growing and expanding market.
Cloud computing will benefit telecoms because they can move essential functions onto the cloud. Cloud computing's higher efficiency allows telecoms to adapt to changes in the market.
Cloud computing is still a trend in the telecom industry even after 2023 because it's the best solution to telcos' needs.
Cyber Security and Resilience
The telecom industry is concerned about cyber security and resilience. We will witness more cyber attacks and data breaches in 2023.
Due to the large amount of data stored in various networks, the telecom industry has been a prime target for cyber attacks.
Telcos need to prepare themselves for cyber-attacks, whether direct or indirect. It is important to build a robust IT infrastructure and pair it with the right talent and processes in order to be resilient.
Cybersecurity must be based on threat detection, response, and prevention.
IoT networks that hackers and cyber criminals enable can be even more dangerous. Hackers can turn devices not adequately protected into weapons, such as laptops and routers. They could also use webcams or automobiles.
Telcos must therefore implement appropriate cybersecurity measures.
The Digital Transformation will not go away!
By 2023 the digital revolution will have begun in full force around the world.
Telecom companies invest heavily in infrastructure and 5G technologies. The new wireless network generation will offer faster speeds with lower latency. This will enable a whole new set of digital services and applications.
In the end, both homes and businesses can access the internet at lightning-fast speed.
Telecom companies also work on upgrading core networks and the 5G network. The upgrade is the basis for digital services in the future, including cloud computing and the Internet of Things.
The telecom industry will have much to do in 2023 to support digital transformation.
Billing and BSS Platforms in the Cloud are Essential!
We have finally reached the important part of telecom billing and BSS!
The telecom industry is not a stranger to cloud billing platforms! They are still worth mentioning, as only a few companies use them. Unexpectedly, CPSs do not have all the infrastructure necessary to promote rapid growth in the industry.
Nokia's study shows that only 11 percent of 5G service providers worldwide have a business support system for 5G monetization.
According to the study, 98 percent of respondents may have to change their BSS to accommodate 5G business models. Telecom companies can bill customers using cloud billing platforms for applications and services. It is convenient to use this type of billing. Cloud billing will be used by more telecoms in 2023.
Cloud billing platforms like cisin Monetization allow telecom companies to implement any monetization model.
Future Telecom Industry Trends: Preparing 6G
The sixth-generation wireless technology is 6G. The technology will be superior to 5G due to its ultra-high data rate (upto 1 Tbps), low latency, and increased reliability. Most telecom experts believe 6G won't be available until at least 2030.
There isn't much public discussion about it, mostly because there is a fear that 6G will confuse the consumer if too much information about it is spread.
As 5G is just starting to be adopted, 5G promotion will take priority. Too much discussion about 6G may divert attention.
But that does not mean they aren't thinking about it. Over the next few years, It will slowly become an important trend in the telecom industry.
Telecoms mainly defines possible use cases and, more importantly, develops 6G specifications and standards.
Telecom networks rely on global standards to provide uniform technical regulations and global interoperability-the ability of diverse systems to communicate with one another.
It takes many years to develop these standards, which require collaboration between companies, academia, and industry organizations.
The industry is focusing on 6G, which has already begun to develop through 3GPP and other organizations. However, it's still in the early stages.
Read More: Choosing the Right Telecom Solution for your Business 2023
What can businesses do to plan for growth in the Telecom Industry?
The development of telecom software for business is growing rapidly. You can now get off-the-shelf and customized software designed for specific industries.
A custom software solution is tailored specifically to meet an individual customer's requirements. Off-the-shelf software is designed to be a universal product for many organizations.
Custom Software vs. Commercially Available Software
Off-the-shelf (ODS) software is perfect for typical items with well-established procedures. This is also a good option for piloting and market testing when unsure whether your idea will take off.
For their main business, organizations looking to scale and grow should not rely on off-the-shelf solutions. To remain at the top of your market, you must constantly change and add new services. The business focuses on scalability and flexibility, but "boxed solutions" fail.
The Pros and Cons of Off-the-Shelf Solutions
Standard solutions are ready-made and do not permit you to make changes or include new features.
When does your company qualify for "ready-to-use" software?
- The company uses simple business processes.
- There is usually someone who knows the program among the staff.
- Tight budget.
The Custom Solution: Pros and cons
Custom solutions are programs designed specifically for an organization with specific processes.
Analyzing data is a lengthy and detailed process that precedes software development. Business automation's success is heavily dependent on the result.
What to consider when choosing Telecom Software?
What should I consider? Consider the following factors before choosing between custom-made or ready-made telecom software:
- Business Process Maturity
- Easy-to-use software
- Budget for programming
- Software functions that are in line with business needs
- You and your business are ready to adopt new software.
Uniqueness and Competitive Advantage
The balance between meeting consumer expectations and creating a WOW effect must be struck. Apps can be a "digital actress" for a brand, attracting new customers and helping it to stand out.
A Simple and Easy-to-Understand Process
The risk is reduced by the fact that you own your code. The customer is the owner of the code when selecting a customized solution. You are renting the solution when you use it. The marketing draws customers to a platform the company cannot influence or control.
The transfer of documentation and code is precise when outsourcing development. Even when the project is internal, it allows the customer to be trained in development and operations. You will be the only one with access to customer behavior and information.
Custom Query Implementation Speed
If you select a ready-made solution, additional external integration, such as technical assistance, will be prohibitively costly or impossible. The average time to develop and produce a custom application is 2-3 weeks. Minor urgent improvements (such as holiday design modifications) can be implemented in just a few short days.
How should Companies Plan for Growth when it comes to Telecom?
For the growth of the telecom industry, it is important to keep in mind the following:
- Security and privacy of data: With the advent of chatbots and big data, data security has been a top priority for telecommunication companies. Deloitte's most recent study shows that people fear financial loss, unauthorized access to sensitive information, and identity theft. Telecommunications companies must now improve digital environment safety since 22% of US adult households (24M) will be victims of cybercrime by 2022.
- Antitrust Backlash against Telecommunication Companies: A series of antitrust investigations was launched by the Federal Trade Commission to investigate the working of various telecommunications companies.
- Telecommunications companies are likely to face increased scrutiny around the world, including regulating their moves, examining how these businesses conduct themselves, and handling consumer data.
- 5G expectations: There are high expectations for 5G and its capabilities. Telecommunication companies must manage this expectation by understanding the true value of 5G. Before forming any expectations, consumers must first understand all the aspects.
- Adoption of 5G: The regulatory authorities will engage in much activity about 5G adoption. The regulatory authorities are expected to provide rules and regulations for the infrastructure used in the 5G adoption process.
Read More: Improving Customer Experience: What Telecom Companies Need to Know
Outsourcing Telecom Software Development Has Many Benefits
It is possible to save time by outsourcing telecommunication software development. You can also hire professionals. The decision to hire contractors to manage specific tasks can be beneficial to a business. Hiring an expert will help your project go further.
Get Results without managing your Business Processes
Now, contractors are responsible for performing crucial functions. The client can achieve the corporate goal through external activity.
Save on Labor Resources
Partnering with a company that oversees certain operations allows the business to reduce its staff.
Save money
Reduced wage costs are a result of fewer employees. This also lowers social payments and taxes.
Improved Substantial Efficiency
Removing non-core features allows you to focus on your main objective and increase its effectiveness.
How to maintain the Legal Status of a Company
Even if you have many employees, your company can still be considered a small one if the contractors replace them.
Reduce Formal Employment Relations Between Professionals
Contracting companies employ workers, accountants, and lawyers. The specialist can complain only to the boss if he is not happy. Clients pay the agency to provide services, but they do not have to supervise employees.
Avoid Additional Problems with Government Services
Personnel checks conducted in the company are irrelevant because another organization is responsible for its employees.
Payment of the Result
Full-time employees are paid "from call to calling" to do the minimum amount of work. Outstaffers are paid to perform a particular task exclusively for an organization.
Suppose you choose custom development. Next, what should you do?
Outsourcing Telecom Software Development Services: Tips for Hiring Outsourcers
Global Software Outsourcing Rates and Trends Guide says that 60% of IT firms outsource software development, and 70% do so to save money.
The number of companies that offer outsourcing services is increasing. Their websites discuss similar subjects and offer nearly identical services. All of them are "leading," "experienced," and "renowned." They all guarantee "unprecedented advantages."
Asking for Portfolio
Visit the firm's website and familiarize yourself with the method used and number of cases. Portfolios are a good indicator of the experience and skills of a company. It's possible that the client or the company didn't like the finished projects. Keep on looking.
Read the Reviews
Where do you start? Review websites allow software companies to display their past work and achievements.
Check out the comments left by previous customers on the discussion boards, social media, or on the website of the business. Look at the feedback left by previous clients to determine if they were satisfied with the efficiency of the process and the final results. You will have a clearer idea of the process and what you can expect.
Determining the Scope of Work
Write a detailed technical task with an estimated workload before contacting performers. You must decide what tasks you want to outsource and which you can handle independently.
You are responsible for setting the goals of your work and finding the best solutions. Start by answering the following questions: What are your needs? What's your solution potential? These questions will lead you to
- Identification of the problem that you want to solve.
- Prepare a roadmap for its solution.
- Determining the scope and work.
State Your Budget Clearly
Decide how much you will spend on your project before contacting an outsourcer. Tell potential partners about your budget.
Evaluation of the Experience
Evaluation of potential partners based on criteria
- Telecom software developers have a wide range of skills.
- Knowledge of technical terms.
- Enjoy the Experience.
- Technology.
Choose a company that has a wide range of technologies. The more software technology experience a company has, the higher the quality of your project will be.
Be Curious
Once you have found companies that meet your needs:
- Please get in touch with them.
- Skype or Zoom to managers.
- You can ask about their experience and the length of time they've been working for that company.
- Check to see if there is a high turnover of staff.
- You can ask for code examples.
- Ask them how fast they respond and if you are comfortable with how they work.
How CISIN Technologies can help
Cisin's team has experience developing and adapting telecom solutions to client requirements. One of our clients, for example, has a multifunctional AI platform that medical professionals use as a gathering place. This platform allows medical professionals to communicate, exchange information and create video chat rooms. We upgraded and extended its functionalities. The updated app allows users to safely exchange and analyze healthcare data and collaborate with other users.
We have a lot of experience in developing telecommunication apps, including WebRTC. This is an open framework that allows for instant communication on the internet.
We use different communication topologies, such as SFU, MCU, and others, depending on the business needs. The communication process directly impacts the entire development cycle, including testing and deployment.
Cisin will provide complex software development for telecoms with extremely high professionalism.
Cisin offers a wide range of services.
- Find reliable telecom software solutions
- Manage the development process
- Software testing and deployment
- Installing software at the client's business
Our team can assist with the development of software. We have a large group of people with different abilities, and we can handle complex tasks. Our team works quickly and in apparent conformity with our customer's instructions.
