The ubiquity of broadband connectivity, development of smart sensors, and the decreasing costs of devices have already made it possible to offer aging-in-place, chronic disease management, and post-acute care services in smart homes.
Mobile communication service providers across the globe have been eager to uncover new sources of subscriber revenue as over-the-top (OTT) apps continue to disrupt their traditional business model offering voice calling and text messaging.
In markets such as North America and Europe, traditional pay-TV operators have jumped into the OTT market to improve subscriber churn by providing less costly video service. Can they compete with the innovative OTT providers? Is this already a lost cause?
A recent worldwide market study by Juniper Research found that revenues from Rich Communication Services (RCS) messaging will exceed $9 billion by 2022 — that’s up from an estimated $126 million in 2018. RCS, backed by Google, supports rich media content including video sharing and file transfers.
Smartphone shipments are forecast to drop by 0.2 percent in 2018 to 1.462 billion units, which is down from 1.465 billion in 2017 and 1.469 billion in 2016. However, IDC expects the market to grow by 3 percent annually from 2019 onwards. Worldwide shipments should reach 1.654 billion in 2022 — that’s a five year compound annual growth rate (CAGR) of 2.5 percent.
Today, 77 percent of all telecom service providers will now require some level of digital transformation over the next three years, to meet the changing market needs in their franchise area and to remain competitive, according to the latest worldwide market study by 451 Research.