While many businesses have been hurt by the fallout from COVID-19 pandemic, the telecom industry has helped keep the world’s economic engine ticking.
In the ‘new normal’ that the COVID-19 pandemic is shaping, businesses across the world are in the middle of a major digital transformation, and connectivity has become critical in terms of providing collaboration opportunities while boosting organisational resilience. The future value of telecom, beyond being an enabler of connectivity, lies in providing value services and customised experiences.
5G technology will usher in a much greater revolution than itself. At the base level, it will significantly increase the capacity and reach of existing mobile networks through greater data throughput and ultra low latency. In a larger sense, 5G will become the backbone of many fourth industrial revolution (IR4) technologies like Artificial intelligence, augmented reality/virtual reality, drones, internet of things, telemedicine, and autonomous vehicles. Many kinds of devices, billions in number, will be connected to each other through 5G and offer the kind of capabilities and user experience never seen before. Our businesses and lives will change forever.
In tandem with the onset of 5G technologies, the size of the telecom equipment sector is expected to have grown to US$26.38 billion by 2020, bolstered in part by the growth of internet subscribers in the country to 829 million by 2021. The overall internet traffic could grow four-fold by 2021, at a 30% CAGR. The MobileValue-Added Services (MVAS) industry is projected to grow to US$23.8 Billion by the end of 2020 at a CAGR of 18.3%.5 In addition, the National Digital Communications Policy, 2018 envisages attracting investments worth US$100 billion in the telecommunications sector by 2022.