COVID 19 Impact on Global Telecoms Industry
Published on : Mar-2022
Global Telecom Industry
The information and communication technology industry comprise of the telecommunication sector which is made up of all the internet service providers along with all telecom companies that play a vital role in the information industry. Owing to the COVID-19 pandemic all over the world as well as the ongoing economic recovery transformations, policymakers should adopt measures to solve the ongoing issues in the telecom sector. The issues in the telecom sector can be divided into timelines that portray the issues that need to be urgently dealt with and the issues it should focus on in the long run.
Issues and challenges faced by policy makers
The telecom sector acts as a backbone in providing telecommunication services. Thus, its role becomes all the more important in this pandemic. The conflict between the necessity of rapid up-gradation and seeking trusted vendors as well as optimizing the information and communications technology is likely to be the challenge for the policymakers in levelling up the telecom sector. Furthermore, the COVID-19 followed by the lockdown is likely to delay the 5G rollout globally as network operators are focused on meeting the increased demand trying to avoid degradation in their service quality. Competition in the telecommunication sector can act as a hindrance in the long run due to its wide scope and growth. Universal broadband service and system flexibility are also challenging factors of the telecom industry in the long run. To face these challenges, policymakers can try shaping the traffic in the sector to manage the network overload. Additionally, for coordinating the network management, national industry-wise coordination mechanisms should be instituted by the policymakers. Telecom sectors should have a clear operational plan in dealing with the crisis and necessary and adequate consumer guidance should be provided to ensure that each customer is getting the best quality connectivity amidst the pandemic.
Levelling up of the telecommunication sector
Events in the past have brought major suffering to humanity. Yet the world always strikes back with massive developments, inventions, and progress to become better. Fatpos Global predicts that the global telecommunication sector is anticipated to register a significant CAGR in the coming decade. This should act as a backdrop for economic recovery from all the suffering brought upon due to this pandemic. Therefore, all the medium and long-term issues must be dealt with properly to provide high speed and secure network channels to support the massive economic comeback that is to follow. The speed of the coronavirus pandemic has created a necessity for the policymakers to act quickly to protect the public from consumer demand shocks and supply chain disruptions.