For over a century, major leaps forward in technology have reshaped how people connect and communicate – from the first moving pictures debuted in the 19th century to astronaut Kate Rubin casting her election vote from space in 2020.
Yet advancements in tech, media, and telecommunications have accelerated at breakneck speed over the past decade. New players in the industry continue to disrupt markets and blur the lines between industries with inventive product offerings and operating models. Digital consumption itself has also accelerated over the past few years, fueled by an increasingly fast-paced and interconnected world, and more recently by the spread of the novel coronavirus in 2020.
The rapid surge in demand for telecommunications services, streaming services, and technologies to support remote working and learning have combined with existing trends of market consolidation, data explosion, and value migration to present players in the industry with an entirely new beast to slay.
“When thinking about how to act in this crisis, Telcos around the world should reaffirm their unique position to help people during this crisis – they need to, and can be, an essential part of the solution… It is the Telcos that enable us all to stay connected to family and friends, to work from home and to allow our children to be educated remotely.” – Boston Consulting Group, Time for action
New Ways of Living and Working Open Doors
With all in-person entertainment paused seemingly overnight, consumers were left in uncharted waters – and the nimblest tech, media, and telco companies stepped in to fill the void. Organizations with an agile operating model quickly pivoted to deliver much-needed services during the height of local and national lockdowns around the world.
Technology, media, and telecommunications companies have kept the world together during the COVID-19 crisis. They’ve enabled and provided up-to-date coverage of the widespread political and social unrest that’s spread within many countries over the past year. Now consumers everywhere are re-evaluating how they live, work, and play in the wake of the COVID-19 crisis – spelling an imperative for organizations to offer robust digital platforms, personalized customer experiences, and cutting-edge content at record speed with minimal disruption.