When people say telecom industry, what comes to your mind? The radio or the internet, perhaps? But did you know that the telecommunication industry dates back to the 19th century, just when the telegraph was invented?
Discover more of the history and recent telecommunication industry trends in our blog post!
As we said, the telecommunication industry started off with the invention of the telegraph in the 1830s. Thanks to the telegraph, people were able to shorten the time for communication from days to hours. Kind of similar to how current mobile technologies let us send tons of data within seconds!
Each new invention from the TV to the computer and mobile devices broadened the industry. So, in a nutshell, these technologies helped change how people live their lives and do business across the globe.
In the past, business communication was possible only through physical wires that would connect homes and companies. But, thanks to current technological advancements, communication has pretty much gone mobile. And guess what? Today the barriers to entry and regulation have decreased, allowing many players to enter the industry. Meanwhile, in the past, the sector was centered around several key players who would dominate the industry. Huge public corporations are the service providers today whereas smaller companies sell and provide maintenance services for the equipment.
The telecommunication industry’s importance to the world’s innovation and prosperity is huge. Throughout the COVID-19 pandemic, the sector’s role in global prosperity became even more prominent. Travel restrictions and social isolation mean that people have stepped into a new reality of communication: the digital one. Digital communication provided us with an alternative communication method to face-to-face interaction. So we can say that the telecommunication industry is complementing working arrangements, helping people to adapt to a post-pandemic world.
Today, the telecommunication industry is truly global. It’s present on every single continent. Did you know that telecommunication is possible even in Antarctica?
As more and more technological advancements are underway, we are hopeful for new possibilities of communication across continents. Network expansion and affordable devices are improving opportunities to connect in remote areas across Africa, opening up new opportunities for economic inclusion.
Concerning the financial situation of the industry, global spending on telecom services slightly decreased from 2019 to 2020. However, experts predict that spending will increase each year up to 2024 as the economic recovery begins.
The Cloud-Based Phone
Is your business looking for unlimited flexibility? Cloud-based phones might be the solution. A cloud phone system offers you a business communications method that the provider’s data house supplies and maintains. Plus, the system is enabled via your internet system.
Featuring a PBX (Phone Branch Exchange) capability with the same routing and call handling features as a traditional PBX, cloud-based phones use VoIP (Voice over Internet Protocol) to facilitate calls over the Internet.
In addition, cloud communications offer various features, such as long-distance calling, that conventional office phone systems can’t provide at an affordable price. This call center software is often provided as a service. So smaller corporations are able to subscribe to it instead of investing heavily to access an expensive on-premise system.
The VoIP Phone System
Now, a bit about the VoIP phone system. A VoIP phone is any mobile device that makes and receives calls using the power of the internet. Instead of a traditional “hard-wired” phone that directly connects copper wires to provide telephone service. Thanks to the VoIP phone benefits you have a greater opportunity for mobility, interoperability, and connectivity.
Besides, there are two key differences between VoIP phones and traditional phones. The first is that a VoIP phone will work no matter your location. As long as you have access to the internet, you’ll have an opportunity to make and receive calls on your business phone number without having to be tied to one place. And the second major difference is that you technically don’t need to own a phone to make calls. You can use your PC to make calls.
In brief, a VoIP phone call offers you various benefits, such as:
- Lower expenses.
- More accessibility.
- Complete portability.
- Greater scalability.
- Advanced tools for small and larger teams.
- High-quality voice communication.
- Multitasking opportunity.
- Increased flexibility with softphones.
When it comes to predictions and telecom industry trends, it is safe to say that opportunities will have something to do with 5G. Many sectors of the telecoms industry primarily will focus on 5G.
Spectrum auctions are either poised to come up or have already been completed in many markets.
5G-enabled devices even today are widely available. They are beginning to gain massive popularity as consumers and businesses explore ways to improve communication standards in the coming years. 5G will surely open up new opportunities for various industries and use cases.
Flagman Telecom specializes in VoIP phone systems and provides Telecommunication Services within Southern California starting in 2010. The company aims to meet the demand for the best VoIP phone. Today, Flagman Telecom is a leading telecommunication company. However, the business is committed to offering customers more and more services in a bid to become the best telecommunication company in the country.