Currently India is the second largest Telecom Industry world-wide, with having a subscriber base of 1.20 Billion. This figure has rapidly increased in past decade and half and it would be a great experience to witness the future of telecom industry in India. However, there is no second thought, the pace of subsribers will go great and the subscriber count will definitely grow huge. Apart from that, as per the expectation India will become the biggest Telecom Industry in the future. This will also contribute a great in the growth of India’s GDP. As a matter of fact, by the January 2019, India has witnessed the growth of 165 percent in application download in last two years.
The change in government policies has also played a vital role in the growth of Telecom Industry in India. With the deregulation in the norms of Foreign Direct Investment (FDI) has made the sector one of the fastest growing sectors of India. In addition to this, the telecom industry became the top 5 employment opportunity generator in India. Apart from this, it is also expected that in the next five years, the rise in mobile penetration and declining data charges will add 500 Million new Internet users in India. This will create a good business opportunity in the near future.
Benefits from Telecom Industry
As, the introduction of number of service providers result in the competition in the market. This competition results into decline of charges and ultimate benefit to the users. The competition will result into much better service and beneficial for customer ultimately.
1. Development in Cross-Industry Alliances:
Increasing competition among telecom industries is leading towards opting for other industry collaboration as well. With great service, telecom industries are going in alliances with entertainment industries. Companies are focusing on good quality broadcasting and development of applications. Through the application, lure the customer and retain them by offering entertainment option.
2. Improve Internet connectivity with the power of 5G:
In order to improve the service and internet speed, it is expected that 5G can be introduced in India soon. The opportunities for revenue growth are better with 5G. It offers a better lifestyle and more benefits to the consumers.
3. Improve Data Security:
Increase in the number of subscribers, also elevates the concern of user data security. However, with the increase in technology, the user data can be secured effectively. Improved level of security minimizes the chances of cyber attacks.
Future Benefits from Telecom Industry
However, in future the industry trends are going to change rapidly with the invasion of Internet and Smart Phones deeply. Apart from these improvement in the Telecom Industry. Still, there are a number of changes telecom industry is going to witness in the near future, with the great service and improved Internet service.
a) Mobile Payments:
Telecom Industries are the root to increase the user count in digital payment and digital shopping. With the improvement in Internet connectivity and the introduction of mobile applications, serve numerous purposes. Due to that, a great number of users joined the digital mode of payment or shopping in a very short span of time. Along with a secure and safe mode assures users to go with it and suggest other subscribes to avail the facility. As well as, in near future more numbers of users are going to join the service.
b) Non-Traditional Telecom Services:
As the Internet quality is improving, it is also letting people to go digitally to access numerous services. The Internet provides access to digital information easily and quickly, just by a click away. Apart from that, other facilities are e-banking, e-education, e-health, and e-commerce. All these electronic service access through Internet eases the work, saves time, and allows people to do all these activities simultaneously at their required time.
c) Artificial Intelligence and Machine Learning:
The great quality of Internet and the way it is improving, it is widely expected that in a decade Artificial Intelligence is going to trend in the market. Machine Learning also very much adopted by the Telecom Industry and is trending. Both the technologies are used in improving the telecom industry by providing various features like, Chat bots, Speech Recognition Feature, Automatically Responding System. All these new technologies are definitely going to enhance the user experience and satisfaction.
Apart from these future prospects, the telecom industry plays a crucial role in the establishment of start-up. As the next-generation are majorly dependent over online working or Internet. In addition to this, India reached the 2ndplace in the startup ecosystem in the world. So, is expected that telecommunication industry will definitely take India to a different level.