The communications landscape is rapidly changing. Incumbent telecommunications providers are now facing a growing threat from over-the-top (OTT) providers offering mobile and fixed voice, as well as messaging services at lower prices.
According to one study, overall spend on traditional communications services is expected to drop by 36 percent over the next 10 years, pushing incumbent providers closer to the margins of voice and data provisioning.
To survive, traditional communications providers are forced to adopt new business growth strategies. Clinging to traditional services and deployment models is a recipe for disaster.
Top Services Your Business Should Be Utilizing
Here are some of the top services that communications providers should be offering:
Cloud computing spend has been growing at 4.5 times the rate of IT spend since 2009—and it’s expected to grow more than six times the rate of IT spend from 2015 through 2020. Communications providers must capitalize on this demand, and offer cutting-edge cloud communications services to businesses.
Voice over Internet Protocol (VoIP) communication may no longer be a new buzzword, but it’s still growing at a rapid pace. SMBs are projected to have an accelerated growth of over 15% in the VoIP market from 2019 to 2025.
There are many businesses out there that are still transitioning to VoIP. At the same time, there are many companies offering terrible VoIP service. Not all VoIP providers, in other words, offer the same level of quality.
VoIP is a core component of Unified Communications (UC), a strategy which involves centralizing communications tools over a single platform. UC is now being used by businesses of all sizes and vertical markets. The global UC market size is on track to reach $143.49 billion by 2024, and is growing at a CAGR of 16.8 percent.
Selling advanced communications services is one thing; getting them to work effectively across a WAN is quite another. For this reason, many businesses are embracing software defined wide area networking (SD-WAN), which is now a household name among IT administrators.
SD-WAN provides greater visibility and control over voice and data traffic, and makes it easy for administrators to manage services from a central location. SD-WAN sales will continue growing at a CAGR of 69 percent through 2021, when it will reach $8.05 billion.