There is no denying the fact that the telecom sector in India will play a very important role in the digital growth. The sector consists of companies that make it possible to transfer information on a global scale through internet, cables, radio waves, phones, etc.
Telecom companies have installed gigantic infrastructure for enabling data transfer through voice, video, text and audio throughout the world. Numerous industries aid in manufacturing components like cables and towers for sustaining and developing the industry including internet providers and satellite manufacturers.
In 2020s, the sector has become an important part of our lives. In the last decade, it has gone through a momentous transformation. India has witnessed a huge growth in mobile telephony penetration. Presently, we can say that almost 95% of the population is connected.
Though India was a late starter but it did catch up with the rest of the world. Eventually, the south Asian giant emerged as the 2nd largest mobile market after China. As mentioned earlier, it has promoted digital growth and has largely been a disrupting technology. Now things like video streaming and digital payments have become so common.
Top trends shaping future of telecom sector
Ever since the start of mobile telephony, the sector has witnessed emergence of many trends in the market. There has been much advancement due to innovation in telecom industry. We have seen 2 G, 3 G and 4 G roll outs. Now we are waiting for 5 G roll which have significant effect on the way we work and live. Technologies like cloud computing, artificial intelligence (AI), Internet of things (IoT) and 3-D printing.
Artificial intelligence (AI)
Artificial intelligence is fast emerging as a disrupting factor in 21st century. No denying AI has immense untapped potential. There is a lot of talk about how it is going to change our lives. All leading companies are looking to leverage the use of AI technology.
Machine learning (ML) or AI is bringing about a sea-change in our lives. Tech majors such as Apple, Google, Microsoft, and Amazon are fully deploying the strengths of the new technologies. The cutting-edge technologies have become so important that you can ignore it at your risk.
All future oriented businesses are developing plans to fully exploit the advantages of the technology for growth. Even small companies are using AI to increase the efficiencies of the business. It now an accepted adage that one must invest in the technology to stay in the business.
Big Data & Analytics
Big data and analytics is the new industry that has come into being as a big and upcoming industry. Changes are visible across various sectors. Adoption of the technology has fundamentally changed working of various industries.
Big data will greatly affect sectors such retailing and medical science. The technology will make the diagnostic processes and data storage more effective and efficient. It will drastically change the way medical data is collected and remote monitoring is done.
As result of the use of big data, there will be phenomenon rise in the volume of clinical data. Analytical data will enable the businesses to make sense of huge racks of unstructured data.
3 D Printing
3 D printing is the newest innovation in the industry. It goes without saying that it has many applications including auto, chemical, manufacturing and medical. In the medical fiend it is used for printing bionics, prosthetics and fracture casts.
The technology has reduced costs in much industry by using lighter materials. In case of medical industry, use of leaner bio-materials has resulted in manufacturing of high quality products.
The new innovation can aid us in lowering costs. Moreover, it can also enable us to build and develop high quality health products. Efficiency of manufacturing will also increase considerably. The products will become affordable as result of low prices.
The technology will be crucial in preparing model of organs based on the specifications of patients using the latest technology. On the other hand, 3 D printing will also be helpful in making high precision surgical tools.
Availability of surgical tools with high precision made with 3D printing will improve the success rate of surgeons. The new technology will have many other positive developments in the medical field.
There is no denying that the better surgical tools will result in high quality performance and success rate with very less pain. Newer technologies will enable the health sector to deliver quality care at affordable prices.
Blockchain
Blockchain is a new technology which is likely to cause a major disruption in our institutional make-up. Introduction and adoption of the technology will have far-ranging ramifications. It is because of this technology that we will soon have what is called a Web 3.0 which will revolutionize the existing internet.
It has amazing security features and runs on a decentralized protocol. It is going to have game-changing effect in the world of finance. Already, it has given rise to cryptocurrency, which many call as the currency of the future. Blockchain acts as a public ledger where once a transaction is initiated in the block must be validated. Then, the transaction is irreversible and cannot be edited.
It goes without saying that the new technology will not only affect the financial markets but numerous other industries as well. IT, manufacturing, finance, and medicine will see major shift. In the health industry, it will benefit maintaining digital medical records, pharmaceutical supply chain, enabling remote patient monitoring and solving the problems of health insurance claims.
There is no doubt that the technology will have several other beneficial applications. It will result in an effective and efficient electronic management of health records and quick sharing of data.
