The telecommunications industries within the sector of information and communication technology are made up of all telecommunications/telephone companies and internet service providers and play a crucial role in the evolution of mobile communications and the information society.
Modern telecommunications industry players produce communication equipment and deliver a set of voice, data, and broadband services using wireline or wired infrastructure of cables, networks, servers, computers, and satellites. We will define the telecom industry and discuss some of the key business drivers. Understand the various constituents of the telecommunication services sector followed by a small discussion on current industry trends.
The telecom sector continues to be at the epicentre for growth, innovation, and disruption for virtually any industry. Mobile devices and related broadband connectivity continue to be more and more embedded in the fabric of society today and they are key in driving the momentum around some key trends such as video streaming, Internet of Things (IoT), and mobile payments.
This industry is highly sensitive to the slightest change in regulatory, technological, and economic factors and has its own share of challenges largely stemming from these factors. With wireless and broadband providing the needed momentum to their growth, the industry players adopt unique strategies to overcome these challenges and move forward to connect people to people and organizations.
The equipment sector comprises companies that manufacture products that are used by both customers and other companies in the same sector. Customers use these products to access telecommunications services, whereas other companies use these products to create and maintain telecommunications infrastructure and deliver telecom services.
The equipment sector includes satellite and broadcast network equipment, wireless and wireline equipment, as well as computer networking equipment. Services Sector also comprises wired, wireless services and internet and other broadband services.