If there is one market growing at the speed of light, it would be telecom. However, to understand just what is driving telecom forward it is necessary to look at the key factors affecting this phenomenal growth. As both a marketing expert who specializes in IT and telecom markets as well as a successful entrepreneur himself, Matthew Goodchild examines those key factors driving telecom upwards in 2022 and beyond.
“Perhaps if there is one thing that stands out among all other factors, it would be the rise in 5G technology that is now a major focus of connectivity. Literally every device that connects to the Internet is employing 5G speeds, and this is creating a huge amount of growth within the sector,” Matthew says.
Second to 5G connectivity in terms of telecom growth would be the $1 Trillion Infrastructure Investment and Jobs Act (IIJA) passed last November. However, Matthew’s take on that is more precise. “Not only will government sponsoring of the telecom industry provide money to realize growth, but what strikes me is that much of this funding will be handled on a state level.” What Matthew is referring to as a much needed and long-awaited decentralization of federal funds.
“No two states have the same needs, so knowing that each state will have the final say on the allocation of their portion of the funds is reassuring.” For Matthew and many other businessmen and women in this country, federally allocated funds have not allowed for the specific needs state by state. With the verbiage of this newest legislation, each state can earmark their funds in the areas most in need of growth and/or revitalization.
“There is one last thing which concerns me,” Matthew admits. “With the rapid growth of 5G technology, I fear that our current cybersecurity measures will be insufficient to handle a variety of attacks. Because of this, I would like to see a good amount of those federal funds allocated to updating cybersecurity in 5G networks and devices.”
The bottom line for Matthew Goodchild and Edge Connect, his marketing firm in Atlanta, is that while 5G is propelling growth in the telecom sector, the government is also making funds available to further push growth forward rapidly. It is a need that only money can address.