The telecom industry is quickly moving away from the landline as the primary telephone used in homes and offices to wireless and Voice over Internet (VOIP) technologies. It was not so long ago that telephone companies made a great deal of money from long distance and international calls. Today, however, people and businesses are using other communication technologies to make their long distance calls, significantly reducing the profits for the major telecom companies. What was once the purview of telecommunications providers, is not being offered by cable companies at faster and less expensive rates.
Today, many companies offer bundled packages that include voice, video and data. This change has forced many local telephone providers to enter the data and wireless market. Cable providers are also making headway as broadband takes over from DSL and telephone companies lose customers to cable’s faster internet speeds.
More than a third of all Americans and even more, 60 percent of young adults, are going wireless only for their personal and home phones, as smartphone and tablet technology expands.
Where telecom providers have stepped up and invested in high-speed broadband, they are successfully competing against the cable companies. Even so, there are four major players in the U.S. telecom industry. There are AT&T, Verizon, Sprint and T-Mobile. Brighter Bills, a leading hosted IP and Business VoIP provider, say “these four companies hold onto their share of the telecom market because of their network reliability and different coverage areas”. As the telecom market matures, the only ways to compete are to cut prices or offer more different services.
One of the most aggressive when it comes to pricing is T-Mobile who touts itself as the carrier. As T-Mobile announced significantly lower prices for the same services, AT&T and Sprint were forced into what amounted to a price war. Even so, T-Mobile maintains their low prices, although there have been some complaints that they slow down data speed once a certain amount of data has been used.
Today, telecom companies are paying more attention to meeting the needs of their individual consumers. The extensive changes in integrated media are driving how people communicate, both with each other and with businesses. Just as telecom once allowed us to cross time and distance, now multimedia provides opportunities for introducing a physical reality into the telecommunication world. The industries which are being revolutionized by this concept are mostly those involved in dealing with the human senses. These include health care, entertainment, advertising, education, and unfortunately, warfare. these key sectors are each experiencing telecommunication innovations which are reducing costs and enhancing operations. These various industries are also examining ways they can virtualize their services and products to enhance their reach to their target audience.
Changing the way a person receives their health care or attends a class can provide them new opportunities and save them both time and money. Today, people are shopping, traveling, and staying in touch by using new technology and software. The reality is that telecom technology is changing how we live our lives.
The changes in telecom technology and service delivery are changing daily. New advances will create more opportunities and the industry will expand and improve to meet them.