At the beginning of 2021, we spoke about the COVID-19 pandemic changing consumer habits to drive both demand and innovation in the communications and media landscape. In 2022, we believe we can expect to see continued progress in the way communications and media technology help us navigate and enhance our daily lives.
Below, three members of Lumine's business development team share trends within the industry that they believe will be sparking dialogue and decision-making in 2022, and beyond.
Expedited Rollout of 5G Network Services Amidst Pandemic Demands
Elliot Yunger, VP Business Development
5G is powering the future of connection -- networking smart cities and providing digital connectivity to rural areas. As we move into the third year of the pandemic, the availability of both reliable network services and dependable devices will remain in high demand. Despite challenges posed by the pandemic, companies in Western Europe, North America, and China are continuing their rollout of 5G networks. With this in mind, the number of consumer connections to 5G networks is forecasted to continue to grow and is expected to reach up to 1.34 billion connections throughout 2022.
As the growth continues, service providers will need to ensure their networks can support the evolving consumer demands. While this may prove difficult, enhancing 5G networks and creating new connections worldwide, will drive innovation and bring technology to underdeveloped geographies faster than anticipated.
So far, we have seen operators rise to the challenge. In 2021, we saw operators launch various new fiber and 5G network deployments to keep up with customer demands and enhance global connectivity. We expect to see this trend continue in the coming years.
Internet of Things (IoT) to Internet of Everything (IoE)
Arjan Stroomberg, VP Mergers & Acquisitions
As 5G continues to expand across the world, new networks will drive the empowerment of the Internet of Things (IoT) to build smart cities, close the digital divide, and many more ambitious endeavors. Today, IoT is already present in nearly every major industry. What comes next?
Enter the Internet of Everything (or IoE). IoE is defined as "the networked connection of people, process, data, and things. The benefit of IoE is derived from the compound impact of connecting people, processes, data, and things, and the value this increased connectedness creates as everything comes online.” IoT refers to the networked connection of physical objects --- our smartphones, smart fridges, smartwatches. It doesn’t include the “people” and “process” components of IoE. IoT is a single technology transition, while IoE comprises many technology transitions (including IoT).
The major driver in IoE development is smart sensors. As part of the IoT developments we’ve seen in 2021 and in previous years, the use of smart sensors will accelerate the development of smart cities -- cities that uses IoT technology to manage the city’s assets and resources. This can include sustainable energy, transportation, waste management, and more. This article shares great examples of what smart city technology can look like.
Smart sensors will also play a role in manufacturing. In this article by Ericsson, they highlight the use of smart sensors in vineyards. In certain vineyards, they are working on trials to demonstrate how sensor data can be collected and processed to better inform wine producers about their grapes to help predict the time of harvest and improve quality.
But IoT and its progression to IoE also has a significant resonance in the Media and Entertainment industry, as is stated in this readwrite article. With the boom of OTT and other models providing creative media content to a growing market, IoT becomes a real backbone to enable industry players to make better-informed decisions based on IoT consumers’ data and increase customer satisfaction by providing a unique and personalized experience for each customer.
New opportunities feel endless and exciting, and in 2022 we will see continued advancements in sectors like healthcare, manufacturing, production, and beyond.
While there are many benefits to the advancements surrounding IoT and IoE, there is also a need for enhanced security measures concerning privacy and the collection and use of personal information. The focus on ensuring safe networks will be a top priority for companies as they pursue new IoT and IoE opportunities.
Prioritizing Sustainability
Connor Ennis, Manager, North America Business Development
With the unprecedented demand for digital connections, telecommunications infrastructures are consuming more energy than ever before. This ultimately is expanding our industry’s carbon footprint. The topic of sustainability now more than ever needs to be at the top of our industry leader’s agendas, understanding what we as industry players can collectively do to lessen our environmental impact.
This will involve educating companies on how to understand their emissions, how to measure sustainability progress, and how to align organizational goals with those of a low-carbon economy.
Approaching the industry and business with a sustainable strategic angle will be the way forward and a key factor in decision-making in 2022 and beyond. This article is a great resource to learn more about how businesses can begin integrating a sustainability framework for decision-making.
What trends are you watching? Reach out to the team to continue the conversation.
