Communication, information, and the Internet are indispensable components of any modern society today. Thus, the development of the telecom industry market is now undergoing significant changes and trends that play a decisive role in how the brand will look and behave in the future.
So, what trends are now prevailing and gaining strength in a changing market – let’s figure it out.
But first, a little analysis and facts
The trend for communications continues to grow steadily, while the share of mobile data is a large part and is growing to a greater extent compared to other categories.
The global communications market is also growing: global spending on telecommunications services amounts to $1.5 trillion.
The volume of consumption is gaining momentum
Cellular communications will become the fastest-growing category of data usage, with an average of 27% in the period from 2022 to 2027. This is due to the high mobility of the population, especially in developing countries. The absolute leaders are Verizon, and Deutsche Telecom (according to the brand value), while China Mobile is the most successful player in terms of market volume.
Wireless/Mobile VS Fixed Telecommunications
According to statistics, there are clear telecom industry trends that the wireless connection segment is growing rapidly (8.5 billion), when, in turn, the wired communications segment tends to fall.
5G is a new benchmark
Starting in 2019, 5G has become the next major technology that will change the way telecommunications services are provided. Global shipments of 5G phones are on the rise. Companies offering affordable 5G phones, such as Vivo and Xiaomi, have shown impressive growth in this area. Demand is expected to triple between now and 2025.
By 2030, the market volume will be estimated at $ 131.4 billion
New technologies like artificial intelligence and cloud systems are being widely implemented in telecom.
If we look at the market from a marketing perspective rather than a product perspective, then the following conclusions suggest themselves:
- Strong competitive environment: the market is developing, but it is heavily influenced by the main players in the industry, who are fighting among themselves for leadership;
- Trends in the development of the mobile segment and the shift of focus there cannot be denied;
- The industry has a stable upward growth, while the development is not only in B2C but also in B2B segments. The most attractive industries for offering their services are manufacturing, fintech, and retail;
- The introduction of artificial intelligence has already become quite ubiquitous, and this market is no exception. Active implementation of AI contributes not only to improving the quality of technology but also improves service and customer interaction.
The main telecom industry trends
Consumer convenience comes first
Consumer convenience is in the first place among brands. This means that, first of all, brands put not their product at the forefront, but the desire of the consumer. Accordingly, the product adapts to its needs – this is because high competition among brands does not allow you to lose sight of the consumer’s opinion. After all, there is a struggle for them.
B2B is just as important as B2C
Because retail, fintech, and manufacturing are now the most attractive industries, the focus on the B2B segment is becoming the main trend for companies. Therefore, it is worth offering business solutions, since it is there that a large influx of investments is now taking place.
A favorable time for the development of ecosystems
Today, the main trend states that large companies in the field of telecommunications create complex and complex products. This leads to the fact that they expand their vector, and become not just, for example, a cellular operator or an Internet provider, but a full-fledged ecosystem. It is important to take this trend into account and adapt the strategy and branding to it, as this gives the advantage of reaching multiple audiences, as well as adapting value propositions, which will allow you to get additional benefits and consolidate a stronger brand image. Moreover, the presence of a digital ecosystem has a very high correlation with the value of the brand – at the moment, the importance of the brand image in the value of the company continues to grow in the world for large companies – the share in telecom reaches 35%.
Internet of Things, Importance of Details
Since brands are trying to create their products in several categories (the fastest growing category now is the Internet of things: smart home technology and so on), this trend is an important component, since the consumer is very attentive to details, especially concerning new technologies and new products.
Innovation has not been canceled
Anyway, the innovativeness of the offer (meaning not only innovation from the point of view of the product but also from the approach to the consumer, with the disclosure of the brand’s UTP) is an important component of any modern company. This is the fundamental trend now, which will allow you to reposition the brand correctly and bring it to a new level with a strong strategic base.
The consumer is a skeptic who hardly forgives mistakes
Since now, with the change of the format of work to a remote format, and with the big trend of communication at a distance, the consumer has become the most sensitive to the quality of communication, the speed, or the volume of services offered by the provider. So the price of error is very high because the consumer can easily go to your competitor. Therefore, it is important to create an emotional connection with him so that he understands that there is something more behind the quality of the service and the breadth of the assortment.
Beauty is in the eyes of the beholder
Aesthetics is something that is now gaining a lot of popularity, and not all brands observe this. This implies a semantic, visual, and strategic unity, which causes pleasant emotions when you come into contact with the brand.
What then should be the “ideal brand» according to the telecom industry trends?
Here are a few directions that a modern brand should follow in the changing market according to the telecom industry trends.
We answer the question, what should the brand image be like:
Brand as a character
There are many brands, but they are mostly impersonal: yes, they talk about emotions, they try to get closer to their target audience, highlight their advantages, and reveal them in vivid communication – but no one builds a complex associative series. No one has a full-fledged image, like a character, so that the brand is perceived by the consumer. And this is very important because as the market and trends say, the consumer needs to be attracted and retained by more than just benefits.
Brand as a structure
The “ideal” brand, to advance in the market today, must be like “one living organism”, a system that functions clearly, holistically, and harmoniously.
Brand as a “mirror”
The consumer should see himself in the reflection of the brand. In the center of such a brand is not a product, but an audience in the center.
Brand as a strategy
When a brand is sufficiently developed and complex in its structure, it is important to know its vector and direct all resources and actions only to it. Because when a brand is very dispersed across industries, it is quite difficult to define yourself holistically – and this reduces efficiency.
Brand as an asset
It is important to pay attention to branding and all its components. Since now it is something that will give additional value – it will be like an asset. Since the value of the brand in the value of the business is only growing, all the elements, carriers, and attributes of the “ideal” brand should work as smoothly and uniformly as possible.