5G is fast becoming a reality with countries across the world adopting it at a faster pace.
In the telecom world, implementation of 5G and related emerging tech like IoT has been a double-edged sword. It brings forth its own set of benefits and challenges for telecom operators.
To adopt 5G technology efficiently, there has been a major shift to cloud platforms & microservices architecture. This is further driving decision makers to make heavy investments in automation and digitalization of their business processes. CIOs must have a strong digital strategy in place to unleash the full potential of 5G.
Telecom experts predict that most of the telco enterprises are looking forward to seizing the opportunity of 5G
Source: GSMA – The Mobile Economy 2021
The top 3 5G trends that will drive telco businesses in 2022:
1) Private 5G as a standard network choice: Cloud computing platform has launched a new managed service that has been helping enterprises set up and scale private 5G mobile networks in their facilities within days, instead of months.
2) Enhanced broadband experience: There are new entrants in the service provider space, especially cable companies that are driving network innovation and will be able to eventually launch local area 5G networks of their own.
3) Massive connectivity: Across the globe, operators are seeking new and improved ways to monetize their networks. This may lead to business model innovations coming from multiple industries. Telco operators and their partners will tailor their service offerings to capitalize on emerging technology such as the Internet of Things (IoT), Artificial Intelligence (AI), Unmanned Aerial vehicles (UAVs), robotics, smart cities, and many more.
What can be the right strategy to offer 5G enabled services?
Moving network capabilities to the cloud to make necessary improvements in network performance and become an effective innovation partner.
Most important drivers for your partner ecosystem strategy:
1. Deliver a wide range of 5G services
2. Support new business models
3. Expansion into new verticals
4. Diversify revenue streams
5. Improve customer engagement
As we enter the 5G era to support and enable the forthcoming wave of innovative 5G-based services, telecom companies need to adopt BSS and OSS architectures that are more flexible, agile, and connected.
Nearly 72% of 5G revenue growth depends on the transformation of OSS/BSS, according to TM Forum’s report.
Capture all the opportunities of the 5G wave!
Choose the right digital BSS platform. Choose Covalensedigital!
Learn more about our BSS modernization success stories at www.covalensedigital.com.