Telecom Industry in 2023: Trends that predict the future
Top 5 telecom trends to watch in 2023
May 3, 2023
Retail Trends 2023
May 3, 2023Telecom Industry in 2023: Trends that predict the future
The telecommunications industry is at a turning point, with technological advancements paving the way for a new era of connectivity. From the long-awaited arrival of 5G to the increasing importance of public cloud, cyber security, and the rise of artificial intelligence (AI), we take a closer look at the key developments shaping the industry.
As we look to the future, Tridens, an expert in billing BSS and online OCS, highlights the top telecom industry trends that will shape the world in 2023 and beyond and how to monetize them.
The telecommunications industry is at a turning point, with technological advancements paving the way for a new era of connectivity.
With the growth of cloud computing, the increasing adoption of digital transformation, and the growing reliance on cloud BSS and billing platforms, it is clear that the future of telecom is both exciting and challenging. Read on to discover the telecom industry trends that will define the industry in 2023 and beyond and how to monetize 5G.
5G monetization will be critical for Telcos
It is clear that all major communication industry trends will be connected to 5G. However, it’s essential to realize that communication service providers (CSPs) must look at 5G as a technology that enables 5G monetization cases and not secures it per se.
CSPs must take a closer look at potential monetization strategies for 5G that go far beyond offering just generic connectivity.
Learning from the monetization mistakes of 4G, they must offer enhanced existing services and use 5G to generate new products and innovative cloud-based services.
With the right partnerships, a whole new area of potential customers in the B2C, B2B, and B2B2X segments are emerging.
Telcos must seek new revenue streams by offering innovative cloud-based services and
The key to 5G monetization lies in three critical aspects, consumer education, diversification, and pricing.
New trends and use cases
5G technology will become mainstream and a trend in the telecommunications industry due to its ability to provide faster and more reliable wireless connections. The increased speed and reduced latency of 5G networks will enable new use cases and revenue streams for network operators and businesses.
The first stage of 5G monetization is expected to come from enhanced mobile broadband services, such as streaming high-definition video, gaming, and virtual and augmented reality applications. Network operators can charge premium prices for these services and increase their revenue.
Additionally, 5G will enable the deployment of new Internet of things (IoT) devices and services, such as smart homes and autonomous vehicles, which will drive further growth in the 5G market. 5G will also support new industrial applications, such as remote surgery and smart factories, which will bring new revenue streams for both network operators and businesses.
New use cases will come in two or more stages. While the development of some is already set in motion, others are expected to evolve from 2025 to 2030.
BSS and OCS platforms will support 5G monetization
There will be no 5G monetization without a good 5G-ready Converged Billing (BSS) and Online Charging System (OCS). To properly support CSPs operations, this telecom billing software must have the following characteristics.
Scalability refers to the system’s ability to handle large amounts of data and transactions generated by 5G networks. Furthermore, only a scalable system can support future growth.
The system must be flexible enough to accommodate different 5G services and pricing models, including usage-based and subscription-based models.
The system should be able to process transactions and generate invoices in real-time to provide customers with accurate and up-to-date information.
The ability to integrate with other systems, such as customer relationship management (CRM) and enterprise resource planning (ERP) systems, ensures a smooth end-to-end customer experience.
In these times, security is a must-have. The system should be secure to protect sensitive customer information and prevent unauthorized access to billing data.
Last but not least is the user-friendly interface. The system should be user-friendly and allow easy navigation, configuration, and reporting. It will make it easier for operators to manage the billing process.
In addition, a cloud-based Online Charging System (OCS) must automate many of the manual processes involved in charging to increase efficiency. Two of them, for example, are network management and service provisioning.
In an OCS, CSPs also look at cost-effectiveness. The system should be cost-effective, leveraging the economies of scale and reduced overhead of cloud computing.
It will take time, but it's worth it
Overall, 5G technology will significantly change how we use technology and communicate with each other. Communication service providers and businesses that embrace 5G and its monetization opportunities will be well-positioned to succeed in the long run.
(Above mentioned article is a Consumer Connect initiative, This article is a paid publication and does not have journalistic/editorial involvement of IDPL, and IDPL claims no responsibility whatsoever.)
