How legacy Communications Service Providers can stay relevant in the age of the smart home
The era of the smart home is no longer a distant prediction—it's here. And it's rapidly evolving. Consumers investing in IoT technologies have more than just one or two devices in their homes—they're building entire ecosystems. Plume data predicts that by 2025, the average home will contain 32 or more connected devices, including smart speakers, health and sleep monitors, and even niche products like smart toilets.
At the same time, customers are leaving legacy systems behind. More than half of homes in the US no longer have landline telephones. Among 25- to 34-year-olds, this number jumps as high as 77.3%. Cable television is also seeing declining subscription rates.
For Communications Service Providers (CSPs), these trends present a variety of challenges and opportunities. Our whitepaper examines the strategies CSPs can employ to adapt—and stay relevant in the face of stiff competition.
The landscape for IoT-connected home devices is growing by the day. Consider:
For Communications Service Providers (CSPs), these trends present a variety of challenges and opportunities. Our whitepaper examines the strategies CSPs can employ to adapt—and stay relevant in the face of stiff competition.
Top takeaways for CSPs
CSPs who have historically offered subscription-based bundles of voice, video, and data services will need to adapt to this changing marketplace. Delivering fast and reliable connectivity to customers will be critical for legacy companies to compete with players like Amazon, Apple, and Google, which have cloud-delivered services built into their DNA. This is simply not possible with the hardware-based models of yesteryear.
Clearly, CSPs must begin offering new services that meet customer demands for a changing, connected world. Here are a few key pivots they might consider:
Adopting an aggressive strategy of digital transformation underpinned by software-defined services versus a hardware-centric model.
Adding features that allow customers to personalize products, services, and experiences.
Embracing data-driven platforms that provide valuable insights about networks, devices, and customer usage.
Employing emerging technologies such as robotic process automation, artificial intelligence (AI), and chatbots to maximize customer service.
With Plume HomePass, for example, CSPs can seamlessly deliver a growing range of Smart Home Services, including self-optimizing adaptive WiFi, custom control settings, and AI-powered cyber-security, among other cutting-edge features.
Thanks to the cloud and its nearly infinite possibilities, making the transition to a new paradigm doesn't have to be painful. CSPs willing to transform their business models today may stand a chance against big-name disruptors—and ultimately remain competitive in the smart home landscape of tomorrow.
Read through our full whitepaper to learn more about the steps CSPs can take to stay relevant in this new and exciting smart home age.
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Adapting to succeed in the smart home era
State of the smart home
3x
By 2023, the consumer segment of the smart home market will be three times as big as the business component.
By 2024, more than 8.4 billion digital voice assistants will be in use around the world—a 113% increase from 2020.
8.4B
By 2026, Smart Home Services will be a $317 billion industry, up from $85 billion in 2020.
$317B
Plume's Customer Experience Management Platform provides SaaS-based access to back-end analytics, user-friendly dashboards, and intuitive support tools. These features allow CSPs to provide customers with the level of high-quality service that the evolving smart home market demands.
Download the whitepaper
Download the whitepaper
Download the whitepaper
Download the whitepaper