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Telecoms research provider Ovum recently released data that says the global telecoms and media market will generate 1.58 trillion in revenues in 2021 from 11.96 billion connections.
In conjunction with the organization’s forecasts, Ovum offers some key advice. The research firm suggests that looking at traditional segments in isolation is no longer enough. The reasons? Convergence is a reality, bundling is mainstream, and end users increasingly expect access to all their content and services via all types of devices, including smartphones, TVs, and PCs.
This is especially true for communication service providers (CSPs), as Ovum suggests that for these kinds of organizations to thrive, they can no longer view market segments in isolation. They must understand the full market scope to succeed in any part of it. And, says Ovum, don’t stop there. The research firm also recommends that CSPs focus on their most important geographic markets to take advantage of the greatest areas of growth.
To read more of Ovum’s forecast, visit here. To get further insights into the future of the telecommunications industry, visit A Perfect Storm, an informative site on how technology advancements are quickly changing the role of CSPs.