How Industry Trends are Impacting Telecom Partnerships
Trends that are creating a shift
With democratizing access to technology, more and more people are embracing it and telecom is one of the industries which is most affected by this shift. More and more people will have mobile by 2020 and the amazing thing is the revenue of this user acquisition will be driven by data consumption as compared to voice/SMS or other traditional services which were the base of telecom offering till recent time.
If we see the driving factors behind this shift, OTT, content and other digital service providers have played a major role. See the below graph on how the composition of services has changed over time.
It’s not only the addition of new partners to the digital ecosystem, but the traditional wholesale is also evolving. Here are the new trends which we can see happening in wholesale.
Implications on Telcos due to digitalization
Telcos no more work in silos as they are disrupted by the new age service providers hence looking for new partners to offer competitive and exciting services to its consumers. The below chart shows the changes happening in the telecom industry. This is forcing telcos to search for innovative and unique economic models.
New Possibilities for Telcos
Smartphone connection will increase to 79% of the total mobile connection bringing in new customers. Over a fifth of the world’s markets will have launched 5G by 2020, spending a combined $244 billion on networks in the process which will bring new capabilities for telcos.
How Telcos can Embrace Digitalization Successfully
The need of the hour is a unified solution which can cater to all the requirement of the ecosystem. The system should be able to provide visibility for everyone in the ecosystem to establish trust among the partners. Right from efficiently managing the partner onboarding, to partner settlements and dispute management, the system should be able to make the whole journey seamless for both traditional and digital service partners. The below image shows some of the capabilities of the system.
This unified solution will allow telcos to transition through the changing paradigm and add agility and scalability to the business to embrace any new technology and consumer behavioral shift.
To learn how telcos can leverage partnerships to gain competitive advantage