Industry Outlook Report The Telecommunications Revolution
Issue 3, 1999
Telecommunications, Information technology, Media & Electronics (TIME)

The global telecommunications industry is embroiled in fundamental and revolutionary change. To a degree unprecedented in history – and unequaled in any other industry at this time – telecommunications industry participants are facing a revolution in the basic technologies used to build and operate the network as well as the opening of their protected monopoly markets to full, unfettered competition. Both operators and equipment suppliers face new competitors with billions in financial backing, multiple mergers and acquisitions around the globe, and a shift to completely new business paradigms. In the face of this onslaught, the incumbent telecommunications companies are forced to rationalize costs, make their organizations more efficient, and deal with markets that are becoming ever more articulate in their demands. For some industry observers, the wave of change sweeping the industry feels nothing short of apocalyptic.