This blog was originally published by Forbes on 17/01/24: Navigating Telecoms In 2024: ESG Commitments, The Digital Trust Race And More

As we look ahead to the next 12-18 months, clear pressures will define the telecoms industry, driven by enterprise and consumer demands.

Let’s explore the key trends that will shape the telecoms landscape in 2024.

Making Good On ESG Commitments

This year, more than ever before, consumers are defining the direction of ESG. As an example, products with ESG credentials on their labels grew at a rate of 6.4% per year, in comparison to 4.7% yearly growth for products that didn’t, according to research from McKinsey. Making it clear that ESG credentials are crucial for driving sales growth.  Consumers want to see businesses not only doing right by the planet but right by them too. 

The ESG commitments made in 2023 will continue to shape the industry in 2024. Carriers in particular will be held accountable for the commitments they made this year by enterprises and consumers making use of their services. Consumers will not partner with brands that don’t take their ESG commitments seriously.

The Digital Trust Race

More than ever, we’re seeing that the digital world isn’t as safe as we would like. Cyberattacks are on the rise, with 1,404 reported data breach incidents globally in 2023, and the use of techniques such as voice deepfakes becoming more common, with deepfake-based identity fraud doubling between 2022 and Q1 2023 in the US. To protect themselves from such threats, individuals and businesses are demanding more from their technology providers to keep them safe.

As technology businesses, it’s our responsibility to create a safe space for our customers. Increasing measures to protect network infrastructure, as well as identity protection, will be crucial in creating a safe digital environment.

In 2024, those who come out on top will be the ones who can bridge the digital trust gap.

Edge Computing Resurgence

Edge computing is likely to come to the forefront once again in 2024, due to the sheer quantity of data that surpasses the capabilities of the cloud and as more data processing is required closer to the user. Its market size is set to grow from $15.96 billion in 2023, to $139.58 billion by 2030. 

We're also seeing more and more businesses move toward hybrid or private networks as opposed to relying only on Wi-Fi for customization.

Just as we’ve seen operators diversify and expand their offerings to include network slicing and private networks, 2024 will be the year we really see a push behind edge computing to expand how we serve consumers and enterprises alike. This will be especially important in major venues, for example, where edge compute resources will elevate connectivity in stadiums or at concerts to enhance fan experience. But there are so many other use cases that we’ve yet to see, including those involving AI, that will be transformed through edge computing.

The Rise Of Open RAN

The rise of Open RAN will be transformative for the industry in 2024—not just for its technological advancements but because of the market diversification it brings.

Open RAN allows for smaller telecom players to come in and bring innovation to the table, and major players are slowly making incremental steps towards its adoption. However, the initial costs pose challenges for many, meaning it’s crucial for telcos to think about long-term plans for Open RAN deployments. This process will create a need for substantial upskilling and investment in talent.

5G And 5G Standalone Rollouts

Investments in 5G have not progressed last year at the expected pace, impacting global adoption of the technology. That being said, in the US in particular, we see a focus on 5G network densification and fiber rollout. 

With a delay in the rollout of 5G Standalone (5G SA) networks due to ongoing changes in hardware vendors, the industry will continue to deal with the consolidation of several major network equipment providers to only two or three.

That’s where neutral host or shared infrastructure providers will become key players in boosting 5G and 5G SA rollout, for new momentum in 2024 and early 2025.

Collaboration In Network Infrastructure

The telecoms industry is set to see an increase in infrastructure sharing agreements between operators, reducing costs in the long tail of networks and encouraging infrastructure collaboration. 

Municipalities and cities are expected to lead the charge in this evolution, partnering with neutral host providers to unlock connectivity. By allowing open access to carriers, these collaborations not only benefit the municipalities themselves but also contribute to the enhancement of urban network capabilities. This approach to infrastructure sharing represents a strategic response to the need for efficiency, cost-effectiveness, and the evolving demands of both urban and non-urban areas. We’ witnessing a shift in how infrastructure is deployed and shared.

Enhancing Consumer Experience With Neutral Hosts

In 2024, neutral hosts will play a pivotal role in extending coverage to new areas that traditional mobile network operators may find challenging to reach or to fund, like large stadiums.

The positive impact of neutral hosts on end-user services lies in their ability to reduce costs and enable the provision of services in areas that might otherwise be underserved. As a result, end-users can benefit from a more comprehensive and accessible network experience, enabled by the strategic involvement of neutral hosts in B2C technology innovations.

A Dynamic Year Ahead

2024 is set to see transformative shifts among key trends. We’ll see the resurgence of edge computing, the 5G landscape will continue to evolve and Open RAN opportunities will continue to rise—all highlighting the industry’s dynamism.

However, there are still challenges ahead, particularly when it comes to digital trust, meeting ESG commitments and creating high-quality customer experiences. Collaboration, along with shared network infrastructure, will be crucial for addressing those challenges.