The telecommunications industry consists of many companies which make it possible to send either written, oral or visual forms of communication globally. This can either be made possible through using phones, wirelessly, cables or airwaves. These companies build infrastructure for the flow of data or information. Some of the largest companies in the telecommunications industry specialise in either satellite, telephone or internet solution services. Before the early 2000s, this industry was dominated by large telecommunications businesses, but with the rapid innovations and deregulation, these companies have been swept away by smaller entities, which have taken advantage of of the growth of mobile and internet services.
Evolution of the Telecommunications Industry
The telegram, which was the first mechanical communication device to be invented in the 1830s, helped reduce the time taken to send messages from days to a few hours, just like mobile devices have now helped reduce the time taken to carry large amounts of information from hours to a few seconds. The industry has changed how people do business and live, through modern innovations such as the radio, television, telephone, mobile devices and computers. In contemporary society, technology has now gone mobile, with homes and offices now being connected through wireless innovations, as opposed to previously where they were attached by physical wires.
How Telecommunications Companies Make Money
Telephone calls remain the highest revenue earners for telecommunications companies, but with advancements in the network technology, this is changing with data and text modes of communication also competing for this revenue. Customers will choose their preferred service providers depending on the pricing and the need, which is either business or home solutions. Some companies also make money from providing network connections to other telecoms and internet service providers that need it, which is done by wholesale to these large corporations.