In a rapidly expanding fraudulent practice, telecom fraud is costing the sector up to $32 billion annually.
Telecom service providers promoted 5G in 2019 and made cautious progress toward the technology’s potential. Although 5G adoption is still in its early stages, 2022 will see the continued spread of 5G services and capabilities across many different industries, including smartphones, IoT, cloud, and more. It will also mean something different to scale services with business development and stand them up much more quickly.
It’s not improper to leave a legacy because it frequently indicates that something significant was accomplished. However, the word legacy relates to a past accomplishment and is not forward-looking. It’s time for businesses in the telecommunications sector to focus on the future, which calls for getting rid of outdated technologies.
Telecom regulators in emerging markets are losing revenues due to the absence of governance and lack of transparency in the telecom industry, and the two main reasons are (1) fraud impacting CSP’s networks and subscribers as well as (2) the absence of traffic and revenue monitoring, leading to full dependency on the operators’ revenues declarations without any verification.
CSPs require a digital-native OSS/BSS foundation as they roll out 5G, cloud, and other technologies to provide new business value, enable organizational growth, and provide creative monetization scenarios.
The telecom sector has new chances and will face further difficulties in 2022 due to the competitive, technological, and environmental changes that are happening very quickly. Our yearly perspective focuses on the telecom sector’s key themes, from more intense competition in broadband markets to cybersecurity in the 5G era.
Considering that Agility is key for the telecommunications industry’s future success, several factors are set to have an impact on the growth of the industry and require Telcos to reinvent their service offerings, adapt their business models and become more flexible and agile.