HICKORY, N.C.--(BUSINESS WIRE)--Global network operators should plan for continued capacity growth, greater flexibility, a larger array of services and corresponding billing models to address societal changes brought on by the Millennial generation, according to CommScope research into the lifestyles and spending trends of people born between 1980 and 2000. The Millennial study findings also have implications for a range of constituents, including network architects, installers and operators, chief information officers and information technology leaders, and real estate developers.
Slated to represent three of every four people in the global workforce by 2025, Millennials have preferences and spending habits that directly impact telecommunications service providers and content providers. For example, more than 85% of Millennials have smart phones, and more than three quarters (77%) of Millennials agreed or strongly agreed that they expect to be able to stream video wherever they are. Millennials are willing to pay for higher levels of service; for example, half of millennials said they would pay 5% of their annual salary for super-fast Internet. Other key findings of the report included:
- Millennials are so accustomed to the Internet that they would rather give up plumbing, heating and air conditioning, personal transportation and cable TV before they would go without connectivity and the electricity needed to power their devices;
- Two-thirds of Millennials agreed or strongly agreed that social media is their major form of social communication, compared with one-third of Baby Boomers;
- Three-quarters of Millennials said they would like to adjust the speed of their Internet services depending on their activities—and pay accordingly.
These findings and others point to several key imperatives for network service providers:
- Wireless service providers need to continue to build out and expand their networks, while enterprises, retailers, hotels, and other organizations would be wise to work with the providers to address their in-building wireless needs;
- Wireless networks must continue to increase in speed and capacity and need additional focus on response time (or latency). Advances and adoption of Cloud RAN, Virtualization and eventually 5G technologies will likely assist in this mission;
- Fiber will be driven deeper toward the edge to satiate demands for higher bandwidth and improve latency;
- Software-defined networking (SDN) and network functions virtualization (NFV) will improve efficiency, drive capacity where it is needed, when it is needed, and generally increase network agility.
“Millennials will represent the lion’s share of purchasing power in a few years, and since they prioritize devices and access to fast internet, they are expected to continue to put high levels of spend towards connectivity. However, they need to be served differently than previous generations in order to meet their expectations,” said Morgan Kurk, chief technology officer, CommScope. “Our experience, innovative thinking, and broad portfolio of wireless and wireline networking solutions will continue to help service providers, data center operators and businesses rise to the challenge of serving this new generation of consumers.”
The CommScope survey was conducted among 4,000 Millennials and Baby Boomers in San Francisco, London, Sao Paolo, and Hong Kong in early 2016. Download the full report at CommScope.com/Millennials.
Infographics from the report can be found on the CommScope Flickr site.
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CommScope (NASDAQ: COMM) helps companies around the world design, build and manage their wired and wireless networks. Our vast portfolio of network infrastructure includes some of the world’s most robust and innovative wireless and fiber optic solutions. Our talented and experienced global team is driven to help customers increase bandwidth; maximize existing capacity; improve network performance and availability; increase energy efficiency; and simplify technology migration. You will find our solutions in the largest buildings, venues and outdoor spaces; in data centers and buildings of all shapes, sizes and complexity; at wireless cell sites; in telecom central offices and cable headends; in FTTx deployments; and in airports, trains, and tunnels. Vital networks around the world run on CommScope solutions.
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