Telcos of the world know they’re at the center of connecting the digital economy to businesses around the world. Working in the telco industry, you also know that competitive pressure is rising fast in the global wireless telephony industry, especially as 5G rolls out and companies in related industries move into the space.
It’s likely you’ve already made some big investments in 5G, which is expected to become widely available by 2020. But while being the first to market will give you an edge, how well you capitalize on the wave of new opportunities 5G brings to deliver an enhanced customer experience will be what separates you from your competitors.
Gearing up for 5G & IoT trends
We can’t talk about the potential of 5G without talking about the internet-of-things (IoT) opportunity—one that will lead to an explosive growth of connected devices. In fact, a recent Gartner report predicted there will be 21 billion connected devices by 2020. To sustain these numbers, platforms that support high levels of connectivity will be needed.
If you work for a telco, it’s on you to have a platform that can support the full weight of IoT. This is good news, however, because it means telcos can now become IoT connectivity service providers, which in turn will open new streams of revenue for increased profitability.
Prepare for a tremendous upsurge in cloud
5G will drive a massive amount of new opportunities in cloud computing that were previously impossible to accomplish, particularly across the mobile cloud landscape. At 5G speed, expect to see connectivity improvements naturally move more workloads and apps to the cloud, enabling businesses to work from anywhere around the world, any time of day. Plus, companies that are quick to bundle cloud services with their core services will increase customer retention.
More than an increase in speed, the enhanced network experience 5G brings will take cloud computing from mobile devices to a whole new level. We’re talking sophisticated mobile cloud apps that offer full functionality from wherever you are in the world. For example, you now have the ability to use analytics to understand where your business stands, and train employees online on the latest processes and technologies.
The ultra-reliable, low latency of 5G which is 1/30th latency compared to 4G, will result in faster responses and vastly improved communications. Also, expect 10x greater capacity with 5G, making it easy for your team to stay connected on the go, and allowing you to reach more people and devices intelligently. As 5G becomes mainstream, you’ll see a greater adoption of transformative technologies across hybrid and multi-cloud architectures.
Expanding into new markets
Beyond mobile technology, think of all the industry sectors that can profit from 5G –technology, health, transportation, media, energy— the list goes on. To avoid the seemingly inevitable commoditization of services and win big in the digital economy, you have to look at the wider opportunity.
5G can also enable new business models. Qualcomm Technologies predicts 5G will enable $12.3 trillion of global sales activity by 2035 across multiple industry sectors. The involvement of other industries welcomes new partnerships, giving telcos a much broader reach. So, what’s the bottom line? Now you can reach more customers than ever before.
At Mobile World Congress, we saw telcos heading in the right direction by partnering with manufacturers in the automotive or healthcare spaces to develop new devices and products that show the potential of 5G. We’ll probably see more examples of this at CommunicAsia.
I, for one, am excited to see the innovation that comes from these partnerships. When your business is powered by CloudBlue, you can reach new verticals and gain the support needed to make your vision a reality.
Clearing out potential roadblocks
One of the biggest barriers preventing companies from adopting emerging technologies is the price point. Is it worth the cost to make the move to 5G? As devices become increasingly connected, questions around security and privacy become legitimate concerns.
It’s vital to understand that the value of 5G—including all the benefits mentioned above—outweigh the cost. Keep your eye open for bundle offers to save on solutions that will ultimately drive more profit. It’s equally important for companies to train their sales teams on how to educate customers in understanding the technology that protects their business data. CloudBlue’s acceleration services and assisted sales program work with partners to fine-tune their sales messaging and address any concerns they might have.
A hyperscale platform
The telcos that come out on top after 5G rolls out are the ones that can introduce new, connected products and services while driving operational efficiency—all with the end goal of creating an enhanced customer experience. To achieve this, you need hyper-scalable technology and the right platform partner.
CloudBlue is ready to accelerate how telcos adapt, compete and grow in the as-a-service economy. Our automated platform allows you to:
- Optimize the customer experience
- Increase business efficiencies through automation by streamlining end-to-end subscriptions, and managing provisioning and billing with telco-grade OSS/BSS capabilities
- Integrate with your core services
- Offer business acceleration services to increase agility and decrease time to market
Now that it’s time to expand your global reach, we’re here to help.
Meet us at CommunicAsia
Let’s continue the conversation. Meet with us at the Marina Bay Sands between June 18-20 to explore all the ways CloudBlue can help you succeed. Schedule a meeting with us at CommunicAsia today.