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The communications industry, also known as the telecom industry, is the segment of the economy that provides network and computing services. This is amongst the largest industries on a global basis. The following are illustrative examples of services offered by the communications industry.
VoiceTelephone services and modern voice products such as voice over IP and videoconferencing.MobileMobile voice and data services such as wifi and 4G. BroadbandHigh speed internet to the home. Telecom companies often control the last mile, meaning that they connect directly to people's homes. It is common for telecom companies to hold a monopoly in this area such that they are the only firm to provide connectivity in a city or region. As such, it is common for telecom to be heavily regulated by government with rules such as net neutrality.
CableCable television services. This is a declining business in many areas due to competition from stream media services.Streaming MediaTelecom companies may offer streaming media services. Likewise, streaming media companies may begin to resemble telecom companies if they buy their own network infrastructure.MediaIt is common for telecom companies to own television stations, film production companies and other media interests.
RetailTelecom companies may sell mobile devices via retail locations and ecommerce channels and often dominate in this space. It is common for telecom companies to tie the sale of mobile devices to the purchase of mobile services.Business InfrastructureNetwork and computing services for businesses such as a dedicated line for a private network.Offering equipment, space, power and bandwidth in data centers as a service.
Offering cloud infrastructure, technology platforms and software as a service to businesses and consumers. For example, a cloud infrastructure service that allows businesses to scale up and down their use of computers in a data center in real time.Services that allow media companies to deliver content such as a video from a data center that is geographically close to the user.
Edge computing is a class of services that allow for computation that is geographically close to where you need it. For example, a retail chain that needs to process transactions in data centers that are close to their stores to improve performance.ProximityAllowing customers to compute in a strategic location such as across the street from a major stock market whereby network performance is faster than any other location connecting to the same market.
Network SecurityNetwork security services such as a VPN.Internet of ThingsInternet of things is a term for products and services that connect to networks to improve their functionality. This includes business infrastructure such as a solar panel and consumer products such as a toy. Telecom companies often provide the networks and computing infrastructure for these services.NotesDue to processes known as digital convergence and media convergence, communications companies, media companies and technology companies tend to resemble each other with time. That is to say that major telecom companies are trying to become media companies and major media companies may take steps to own their own networks.|
| Type | | | Definition | The segment of the economy that provides network and computing services. | | Also Known As | Telecom IndustryTelecommunications Industry | | Related Concepts | |
Telecom
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