Did you know that the telecommunications industry had a market value of $1.4 trillion at the close of 2017?
How does an age-old industry remain that relevant after so many years?
The simple answer – it’s vital. In fact, many sectors would stop to function without telecommunication.
Indeed, of all the innovations of the past centuries, telecom is the most important.
Here are the top reasons why telecommunication is still crucial today:
1. Telecommunication is Almost a Basic Need
Information technology plays a fundamental role in the operations of any society.
Today, telecommunication is the technological foundation in societal communications. Communities, governments, and families are able to relate seamlessly thanks to telecom advancements.
Also, telecom is broadly accepted as reflected by its near-ubiquitous use and penetration. Things like messaging, phone calls, and web surfing are now integrated into how you live and work.
2. Telecommunication is an Important Security Tool
Telecommunication is one of the most vital infrastructures when it comes to security.
From the military to natural disaster recovery, all these institutions depend on telecom. The government invests in communications systems to enable security agencies to counter threats. It can’t rely on overseas sources of information technology due to potential risks.
3. Telecommunication Empowers Development and Participation
Because of telecommunications, it’s easy to organize development initiatives in remote areas. Goods/services can reach these areas via aircrafts and ships. This allows communities in remote areas to access crucial resources.
The result? Growth and development for all.
4. Telecommunication is a Major Direct Contributor to the Economy
The telecom sector boasts fixed worldwide average spending of over $520 billion annually. Since the U.S. is one of the largest markets for telecoms, the economy is benefitting from its development.
But what makes telecoms (as an industry) so big in the U.S.?
Well, it consists of the following subsectors:
- Satellite telecommunications
- Cable distribution
- Telecommunications resellers
- Telephony including VoIP (Voice over Internet Protocol)
These subsectors engage in operating facilities that aid in the transmission of data.
Furthermore, they employ over 727,000 people with average hourly earnings of $37.
5. Telecommunication is a Must in Business
Companies rely on telecommunication for smooth operations and steady growth.
The fact that you can schedule a meeting and create an employee network online, makes telecom a revolutionary tool in business.
Some other benefits of telecommunications in today’s businesses include:
The telephone remains essential in any customer service strategy. Currently, new call management techniques make handling incoming calls quick and easy. This is especially useful during peak hours.
To improve performance, companies must use telecommunication for easy collaboration between different departments.
Most technical and sales teams spend many working days traveling and visiting customers. In essence, telecommunication is what keeps them productive. It helps to maintain contact with the head office for crucial info and guidance.
For constant business growth, ensure you learn more about the latest telecommunication systems.
6. Telecommunication Inspires Education
Gone are the days when students learned from physical institutions only.
Today, all you need is a smartphone or PC and a good internet connection to get information on any subject. As a result, schooling is shifting from classes to homes and outdoor areas.
Many well-known institutions are using telecommunications for distance learning. This helps students save money that would otherwise go to travel and accommodation.
Furthermore, these online courses offer students a lot of freedom. You can now juggle between work and studies.
Students can also use social media to connect with classmates and teachers.
7. Telecommunication is Synonymous With Healthcare Provision
Patients can reach medical experts, healthcare institutions, and medication without having to travel. This is all thanks to the advancements in telemedicine.
Telemedicine is the remote delivery of various health services. A healthcare provider can diagnose and treat you via features like video conferencing. This eliminates the need for in-person visits.
It’s also easy for doctors to record, store, and access crucial data of their patients. This enables them to track and capture vital information. Additionally, telemedicine helps to keep waiting times short.
8. Telecommunication is Improving Sports and Entertainment
Another area significantly improved by telecoms technology is sports and entertainment.
To begin with, there’s wider coverage of sports and entertainment events more than before. This is because of growth in social and digital media.
Also, sports like soccer rely on various technology for real-time communication. This can be between the referees, coaches, or commentators. A tool like the Virtual Assistant Referee (VAR) helps referees make better decisions.
9. Telecommunication is Improving Governance
New communication and information technologies are also contributing to good governance.
The e-governance online tool is one of the latest digital technology for governance. It can transform a government’s external operations through fast data processing.
Besides that, telecommunication technology keeps citizens informed. They’re now more aware of what’s going on in their environment than ever before. This pushes many governments to be more accountable.
10. Telecommunication Spurs Global Competitiveness
Many multinationals are shifting to the global stage. The aim is to cater to the international markets opened up by globalization.
Companies like Microsoft, IBM, and HP have research and development centers overseas. Similarly, there are many Asian and European businesses setting up bases in the U.S.
Thus, more companies are competing globally, which is healthy for the global market.
Telecommunication is Changing the World
Telecommunication is changing how we communicate and do things. If used the right way, telecom advancements will keep making the world a better place.
There’s an ever-present and evolving need for humans to communicate. This means that the telecommunications industry will grow exponentially in the coming years.
How has telecommunication improved your life? Share with us below!