On Wireless Technology
Wireless data transfer technology lags behind its wired counterpart in terms of speed, reliability, latency and security. However, with the comfort, ease of use and access, and overall practicality associated with wireless devices, wireless technology is commonplace in our society. As such, there is an evergoing quest to discover and deliver better and more capable technology in this regard.
The past few decades has seen data capabilities expanded from analog to digital, the introduction of Multimedia Messaging Service (MMS) and Short Message Service (SMS), as well as wireless internet service. All these alongside ever increasing bandwidth and speeds.
From instant messaging platforms to the migration to the cloud and video sharing platforms to IoT (Internet of Things), advancements in wireless technology have undoubtedly been very influential in shaping the present day's technological landscape. With 6G (sixth generation) technology expected to launch commercially in 2030, here are my thoughts on the opportunities in this field based on my assessment of the industry.
My Thoughts
Manufacturers with patents for 6G equipment designs could benefit from some form of IP protection or licensing, potentially being able to offer the technology to intermediaries or directly to end consumers at lower prices, thus, increasing market share and/or profits.
However, the case for consumer businesses may not be as straightforward. These businesses may choose to compete directly in an effort to retain their market share. Alternatively, they may employ market penetration strategies with the aim of increasing market share. A potential strategy for market penetration may involve targeting and/or prioritising select locations which may have been overlooked or not prioritised by competitors, although benefits may be negligible - Due to the fact that advancements in wireless communication technology usually requires consumers to upgrade to compatible devices, simply beating competitors to a location may not offer too much of an advantage as the time it takes for consumers to upgrade their devices will offer competitors ample opportunity to enter the market.
More viable market penetration strategies may involve offering price promotions and partnering with device vendors and manufacturers to increase the attractiveness of their offerings in order to encourage consumers to switch over to their service, coupled with high quality service characterised by a seamless onboarding process, good reliable network quality, and great and easily accessible customer support. These should help retain customers and propagate good word of mouth marketing.
In summary, I think leadership plays a very important role in the success of a business within this field, more particularly regarding the consumer businesses. Great leadership and the always helpful bit of luck will be the hallmarks of a successful business in this field over the coming years.