July 22, 2020

How COVID-19 Influence the Telecom Industry?

The COVID-19 pandemic has imposed a global lockdown, causing economic hardships for communities, businesses, and consumers alike.

The worldwide isolation has demonstrated how critical the telecommunication industry has been for keeping the governments, businesses, and societies connected and operational.

Because of social disruption, the worldwide population is now reliant on telecommunication, whether it is to meet their basic needs, socializing, or working from home.

COVID-19 Influencing Telecom Infrastructure

Here is how COVID-19 is changing or shaping the perception or the Telecommunication sector as we know

Cloud-based Services

The cloud service has already been popular as well as profitable. However, the COVID-19 pandemic worked as a catalyst and turned in a lucrative service sector for years to come. As we are all forced to work and communicate remotely, it has given rise to video conferencing services such as Zoom for businesses around the world to collaborate, communicate, and work remotely.

Not only the corporate sectors but also local businesses and establishments such as takeaways are also opting for online services to serve the customers at their doorstep.

However, the enterprise landscape is where the significant change happened. According to a report, over 34% of the participants think they will still be allowed to work remotely once the pandemic is over.

Digital Payments is the New Normal

Although the WHO issued a statement that exchanging paper currency will not aid the transfer of the coronavirus, many retailers refused to accept cash payments. It left customers with no choice but to opt for contactless payment methods for paying and buying online.

Many believe once people get used to digital mode of payment, they are highly unlikely to go back to the conventional mode of payment. For example, when cheques became obsolete, there was resistance in the beginning, but now nobody wants to pay in check whatsoever.

App Economy Establishes Itself

The COVID-19 pandemic has not only increased the use of social networking and corporate apps such as TikTok and Zoom, but companies are also looking for innovative apps for consumer engagement as well.

The retail sector has undoubtedly suffered a massive and irreversible setback. Therefore, it needs to find a viable alternative to reach, retain, and engage the consumers. Hence, COVID-19 will continue to force the retail sector and other businesses to adopt a more omnichannel approach.

Cyber Security – A Need of the Hour

The more time consumers spend online, the more vulnerable they are to the threats lurking on the World Wide Web.

Therefore, the telecommunication industry must collaborate with the corporate realm. These include the world’s giant companies, streaming service providers, and banks to ensure the safety of their IT infrastructure as well as their consumer’s data.

Cyber-criminals are targeting Internet users with phishing emails, innovative social engineering tactics, and apps smothered with malware. Therefore, it is high time the telecommunication industry implement the state-of-the-art security measures to prevent fraudulent interventions.

The surge in Broadband Demand

Unfortunately, millions have lost their jobs globally, and millions have to work remotely since COVID-19 forced us into lockdown. It has caused an increase in Internet usage worldwide; people are spending more time online than ever.

Whether it is conference video calls for work, surfing social media or binge streaming show after show on Netflix; a surge in Internet demand is breaking the backbone of current telecommunication infrastructure.

It has now made the telecommunication sector, and agencies realize that full-fibber connectivity is inevitably the need of the hour. The COVID-19 may work as a catalyst and see the global implementation of fibre broadband.

It is Irreversible

Without any exaggeration, it is safe to say that what the telecommunication industry is experiencing during the COVID-19 pandemic will shape its future. The changes will be irreversible and will stay with us for a long time.

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