How cloud adoption can unlock a new revenue stream for the telecom sector

There have been predictions for over a decade now that cloud is the future. Infact, most people have said that, eventually, there will not be any private data centers, and everyone will be moving to the cloud. As predicted, the cloud has seen an amazing growth year on year in the past decade. With extremely high growth figures such as more than 17% CAGR year on year and with the global cloud computing market expected to cross $600 billion by 2023, it is everywhere and everyone is adopting and using cloud. And this opens up different new opportunities for every sector and also unlocks new revenue streams in the telecom sector. The telecom cloud market is projected to grow at a rate of almost 19.7% in terms of value as compared to 2019. Telecom is all about communications, it’s about data transfer.

With most telecommunication providers already providing communication as a service, today cloud also provides communication in the forms of applications that are available on the cloud, allowing people to not only make calls, but also set up conference calls, do video conferences using products like Microsoft Teams or Zoom etc. which are all cloud based as we know. To be honest, this should have been something that telecom operators actually picked on far earlier and would have packaged it along with their existing services. Since they are already into communications, it would have been easier to also launch other products offline which would be communication related and would have easily opened up new revenue streams and would have given the necessary competitive edge since its well-known that the telecom sector is highly competitive.