According to the latest procurement market intelligence report from Technavio, the global market for wireless telecom services is expected to grow at a steady CAGR of 2.3% over the next five years. This growth is attributable to an increase in the number of mobile data subscribers, Internet-compatible devices, and the need to develop good quality network infrastructure to meet the increasing demand for data and video services.
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Technavio has published a new report on the global wireless telecom services market from 2017-2021. (Photo: Business Wire)
The research report titled ‘Global Wireless Telecom Services: Procurement Intelligence Report 2017-2021’ provides an in-depth analysis of category spend, best procurement practices and cost saving opportunities, aimed at helping organizations achieve superior business performance. The report also provides insights on pricing, supplier positioning and top companies, enabling sourcing professionals to improve their competitive advantage through procurement excellence.
“During the forecast period, global mobile data traffic is expected to grow at a CAGR of almost 53% to reach 30.6 exabytes by 2020, which will translate into an increased demand for wireless telecom services,” says lead Technavio procurement specialist Angad Singh for category spend intelligence. “In addition, global internet penetration, which stood at 3.2 billion in 2015, is expected to increase at a phenomenal rate especially in the developing countries,” adds Angad.
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Cost Saving Opportunities in the Wireless Telecom Services Market
The adoption of various cost-optimization levers helps buyers of wireless telecom services realize direct cost savings and enhance category management and value benefits (including reduced procurement complexities).
Technavio procurement experts have segmented the cost saving opportunities in the wireless telecom services market into the following value-enhancement opportunities:
- Adoption of technology
- Supplier Competition
- Adoption of negotiation strategies
- Optimization of procurement practices
- Bundling of services
Adoption of technology saving aspects
Adoption of technology such as voice over Long Term Evolution (VoLTE) helps reduce voice tariff spend significantly to the extent of 6%. Large organizations look to partner with providers that offer reliable networks regarding consistent connectivity and network coverage. Buyers measure providers' performance by analyzing metrics such as call drop rates, network outages, and consistency in access to data services.
Adoption of negotiation strategies saving aspects
Adoption of negotiation strategies function as levers for quick-wins and help to optimize total cost of ownership (TCO). Several global surveys conducted in 2015 have found that approximately 70%–75% of customers want tailor-made price plans, while only 10%–25% felt that their current service provider offered such plans.
Personalization unlocks opportunities for telecom operators to develop and deepen the relationships with existing customers offering a good mix of voice, text, data, hosted servers, and online payment services.
Bundling of services saving aspects
One of the most opportunistic strategic cost saving levers in the global wireless telecom services market is that wireless telecom can be bundled with managed services (maintaining companies' network equipment).
With the sharing of data, voice, and videos across a vast network of interconnected systems, customers demand digital ecosystems that are governed by a comprehensive data privacy policy. Service providers must ensure that the sensitive personal information transferred over their networks is protected.
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About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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