The Fast Mode – by Daniel Hesselbarth
In 2020, telcos successfully capitalized on the smartphone usage boom by improving network and system resilience. Despite the achievement of telcos during the pandemic, they still face a major challenge as they are too comfortable in their traditional business models of providing basic connectivity services; they are missing opportunities by not moving further down the revenue chain. Telcos will need to branch out into other areas of revenue - namely, the smart-home if they want to be competitive with larger technology companies.
However, telcos have a unique opportunity to play a valuable role in the smart home ecosystem as connected technology becomes more prevalent in households - especially as over 50% now own a smart home device. The smart home device industry is growing; a study by Juniper Research revealed that by 2025 almost 13.5 billion active devices. Moreover, voice assistant capabilities and smart entertainment devices, another aspect of the smart home ecosystem, continue to soar in popularity.
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