Key Trends Shaping the Communications Industry in 2024
The communications industry is on the cusp of a technological revolution. As we step into 2024, a series of breakthrough innovations are set to redefine the landscape of telecommunications. Here are the key trends that will shape the industry:
1. 5G Expansion and Adoption
5G has become a game-changer in the digital era, providing greater security and stability. The number of connected devices is anticipated to grow to 51.9 billion by 2025, and telecom offers 5G as a Standalone (SA) service to meet this demand. The rapid proliferation of 5G has also accelerated private wireless network adoption in various verticals such as healthcare, manufacturing, and retail. Looking ahead to 2024, Advanced 5G deployment will significantly impact the entertainment and education sectors.
2. Network Disaggregation and Virtualization
Network disaggregation and virtualization are emerging as compelling telecom trends. It has the potential to elevate network security, leading to unprecedented agility at reduced costs. SDN (Software Defined Network) focuses on separating a network’s data and control planes, enabling efficient network management, resource utilization, and enhanced network agility.
3. Short-form Video
Short-form video has emerged as a formidable trend in the communication and media industry. With platforms like TikTok and YouTube Shorts gaining immense popularity, media companies are investing heavily in creating captivating, bite-sized content.
4. Politics and Policy
With 2024 set to be the biggest election year in history and new regulations hitting companies around the globe, politics and policy will take centre stage.
5. Artificial Intelligence
AI is reshaping the future of work. Transforming companies will meet change anxiety and the reality of unfillable skills gaps, but looking ahead, AI offers promise for workers rather than office Armageddon.
6. B2B Decision-Making
The year of the outcome will shape B2B decision-making. Cybersecurity and strong ecosystems can deliver a competitive advantage.
7. Shifting Consumer Climate
The separation of “social” and “media”, the rise of reusable devices, and the evolving worlds of gaming and finance – all these indicate a fast-changing consumer climate.
These trends present both challenges and opportunities for the communications industry. As we navigate through 2024, it’s up to us to leverage these trends to shape and solve problems for society, while striking the right tone in today’s conversations.
