Darshan Naik is Chief Growth and Strategy Officer for Telco, Media and Technology Markets at Hold it America.
The year 2022 set the stage for major changes in the technology, media and telecom (TMT) industry.
As we enter the new year, industry leaders will continue to drive significant industry change through the advancement of 5G and the explosion of mobility. of the administration of the administration.
The growing economic situation will make the first half of the year focus on cost reduction, but despite these economic problems, the TMT sector will continue to push the boundaries of what is possible for consumers and drive evolution in all sectors such as life sciences, automotive, retailers and beyond.
I believe that organizations will focus on what is happening in 2023, and focus more on time-to-value (TTV) – accepting smart growth through the use of new technologies, communication and the data environment to ultimately improve the customer experience (CX).
Here are my top five tech predictions I hope to see take off in 2023.
1. Verticalization and subscription fees will increase in high technology.
As the desire for flexible consumer models increases, companies will continue to pursue subscription services and new business models. In a more advanced environment, this is closely related to the idea of verticalization-when we see organizations starting to expand their business in the technology of using natural resources.
One example of this I expect to see in 2023 is semiconductor companies transitioning into software companies focused on a “chip-to-cloud” approach that operates on a subscription basis. The concept of “purpose-built silicon” began when industry leaders began designing their ARM-based chips for specialized applications. This trend is likely to continue as more and more industrial intelligence applications emerge—each with its own requirements for power, connectivity and computing.
In addition, legacy companies are beginning to change their usage models to include subscriptions. Picture yourself buying a laptop on a pay-as-you-go basis for $25 a month. After a few months or a year, the buyer can exchange this laptop for a new one – at the same price. This “compute-as-a-service” will require a collection of products to provide customization, such as personal computers or gaming equipment.
Beyond the semiconductor and hardware industries, hyperscalers are also focusing on enterprise clouds for specialized applications, another trend we will see continue.
2. Companies will continue to spend 5G on telecommunications.
In recent years, telecom companies have spent a lot of money on the infrastructure needed to roll out 5G.
Despite this significant increase, the consumer price index has remained relatively constant. The cost of 5G is not reflected in monthly phone and internet bills, meaning the telcos alone are covering the billions. This has left many organizations wondering how to make their 5G investments without breaking the bank for consumers.
With rising interest rates driving higher credit costs, 5G financing options will be a major area of focus for telecoms in the coming year.
3. We will see telecom companies introducing B2B marketing and additional services.
Another problem for telecom businesses is that most of their revenue comes from direct-to-consumer (DTC) sales.
We will begin to see many of these organizations focus on business-to-business (B2B) sales—providing value-added services such as smart and consumer products, with 5G as the backbone. This pivot will drive the growth of telcos and open up a new customer segment that is created at a higher cost.
A successful B2B strategy will require end-to-end transformation in four key areas: business history, sales support, customer experience and business model.
4. Brands will continue to monetize and build channels through the ecosystem.
As businesses and consumers continue to move forward in the coming year, more and more organizations are looking for ways to generate revenue where possible.
For example, by deploying augmented and virtual reality (AR and VR), media organizations are beginning to develop ways to access the internet preferences of individuals around the world.
Developments like this will allow consumers to set up a store that has their own online portfolio, which can go from social media to online games and extend their personalization to new levels that were not possible until now.
To succeed in this vision, whether it’s the consumer, corporate or business metaverse – industry leaders must come together to integrate and embrace open Web3 technologies.
5. Customization will be necessary.
Today’s consumers want more than lazy advertising—but many media organizations still haven’t met it.
Advertising is the largest amount of money spent on the Internet, followed by sales alone. But organizations that make money based on advertising often rely on cookies and other hidden technologies, without looking at privacy.
As privacy takes center stage and regulations increase, the fundamental nature of marketing technology is changing – and new ways to improve tracking and personalization are needed. As businesses in this sector increase their focus on content creation and licensing, the shift away from social media will only intensify.
Rather than continuing with long-term fatigue, future advertising will evolve the profile of each consumer and understand their likes and dislikes to create an engine for future purchases. However, in order to succeed, social media companies must provide new ways of working and collecting information, with privacy at the core.
Innovation and change are what fuel the fire of organizations.
While all of these are very important to the industry, we cannot move forward unless we do this with a climate impact. The longevity and adoption of these technologies will depend on the ability of leaders to capitalize on these technologies rather than just seeing them as another cost of doing business.
As organizations and leaders continue to push the envelope to create new and exciting platforms, products and services, the new year is shaping up to be a promising environment for consumers and businesses.
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