Global spending on telecommunications and pay-TV services will reach $1,544 billion in 2024, representing an increase of 2.4 per cent year-on-year, according to the Worldwide Semiannual Telecom Services Tracker published by International Data Corporation (IDC).

The latest prediction is 1.0 percentage points higher than the version published in the May edition of IDC’s Tracker.

If that forecast becomes reality, the above-mentioned annual growth rate would be the highest recorded in the last twelve years.

The above-average positive revisions of the forecast apply to the regions of the Middle East and Africa (MEA) and Latin America.

This is mainly a consequence of hyperinflation in countries such as Turkey, Egypt, Nigeria and Argentina, in which it has become usual to see average revenue per user (ARPU) figures growing by more than 50 per cent on a yearly basis.

Conversely, the outlook for the markets of Europe and Asia Pacific has been slightly downgraded, mainly due to the deteriorating economic climate in key countries such as Germany and China.

The expectations for the North America have not changed much between the two tracker updates, apart from a minor positive revision in Canada’s market.

The analysis by type of telecom services confirms that the well-known trends persist despite the changes in top-line forecasts.

Mobile remains the largest segment, driven by the growth in mobile data usage and M2M applications, which is offsetting declines in spending on mobile voice and messaging services.

The fixed data services segment will continue growing, driven by the need for higher bandwidth. Spending on fixed voice services will be dropping over the forecast period as the rapidly declining TDM voice revenues are not being offset by the increase in IP voice.

The traditional pay-TV market will decline slightly over the forecast period due to the growing popularity of VoD and OTT, but these services will remain an important part of the multi-play offerings of telecom providers across the world.

The global connectivity services market is expected to maintain a positive outlook over the next five years, with a compound annual growth rate (CAGR) of 2 per cent.

The overall economic climate is expected to improve as the key central banks in the US and Europe will continue decreasing their reference interest rates.

Inflation will continue declining, which will have a positive impact on the purchasing power of the population.

The negative elements of the forecasting puzzle will include saturation of the telecom services markets in major countries, as well as the unstable political situation in some regions, particularly Eastern Europe and the Middle East.

Additional risks are related to the potential shifts of economic policies related to the new US government that might lead to the rebirth of protectionism.

IDC’s latest forecast is more optimistic than its previous one. However, even in this scenario, the growth of the connectivity services market is expected to remain sluggish, prompting operators to seek additional revenue streams.

“There are quite a few promising areas in which operators could expect solid returns. These include fibre optics, IoT, UCaaS, SD-WAN, digital services, LEO satellite services, cloud services, IT security services, network APIs and network sharing, and 5G-advanced,” commented Kresimir Alic, research director with Worldwide Telecom Services at IDC.

“These companies should also increase the pace of digitalisation and software-isation of their business processes, create new go-to-market strategies based on data and intelligence, and deploy innovative business models based on telco-as-a-platform and co-creation within ecosystems.

“Essentially, telecom operators should aim for a complete transformation — from traditional commodity service providers to modern, full-stack technology suppliers. This transformation should position them as leaders in the digital transformation revolution, potentially securing a central role in the new digitalised world,” Alic concluded.

MTN, Africa’s biggest mobile operator, is exploring partnerships with low-Earth-orbit satellite providers to bring internet connection to rural and remote customers in particular, according to Ralph Mupita, CEO of the group.

LEO satellites provide high-speed internet even in areas where terrestrial telecommunications infrastructure such as fibre and mobile broadband is difficult and expensive to deploy.

“To keep customers and businesses connected at all times, we’re going to have to embrace satellite as an additional technology form,” Mupita stated.

He said South Africa-based MTN was carrying out proof of concepts with several LEO satellite operators for possible partnerships.

“We are exploring several, and actually some of them we’re happy to be resellers through our enterprise business to some of our customers in specific countries,” Mupita said.

Reuters reported that MTN is not alone in seeking out partnership agreements. Smaller rival Cell C is doing the same.

South Africa’s biggest operator, Vodacom, majority owned by Britain’s Vodafone, announced a partnership with Amazon’s Project Kuiper LEO satellite last year.

“We’re very aware of the challenges of having to compete as a fixed and wireless operator with LEO satellites over time, so we’re arranging ourselves to be able to sure-proof our businesses in our key markets,” Mupita said.

Starlink operates in several African countries but has faced regulatory challenges in others, including South Africa, and resistance from state telecoms companies.

SeerBit, Africa’s most trusted payment solutions provider, has reaffirmed its pivotal role in shaping the future of the technology industry by impacting one billion lives at DevFest Lagos 2024 hosted on 15th and 16th November 2024 at Landmark Centre, Victoria Island, Lagos.

An annual conference organised by the Google Developer Groups Lagos (GDG Lagos), the highly interactive two-day event brought together developers, tech leaders, enthusiasts and innovators from all over Africa and beyond.

Through various workshops, focal sessions, and product showcases, attendees explored the latest advancements and conversations shaping the tech landscape.

As Gold Sponsor of the event, SeerBit reaffirmed its dedication to advancing Africa’s developer ecosystem through the brand’s strategic thought leadership, innovative solutions and Pan African capacity-building initiatives.

On respective days of the event, Olaolu Akintoye, Engineering Manager and Babajide Shoyebo, Senior Product Manager, both from SeerBit, took centre stage as they shared relevant knowledge on key topics shaping the evolving role of technology in driving business and economic growth.

Akintoye, who spoke on the topic – Building Resilient Systems: Flexibility and Adaptability – took attendees through a revealing session into resilience and chaos engineering, as well as the importance of building systems that can adapt and remain stable in the face of disruptive events and actions.

On his part, Shoyebo contributed invaluable nuggets as a panellist in a session that focused on the essence of balancing innovation, agility and compliance in building sustainable businesses. Drawing relevant instances from SeerBit’s operational standards, Shoyebo demonstrated the need to ensure a healthy mix to future-proof businesses.

Equally important, both resource persons shared insights into how SeerBit is utilising cutting-edge technology to simplify payments, while seamlessly addressing payment fragmentation and availability gaps for businesses and their customers across Africa.

“For SeerBit, sponsorship is more than financial support. It’s about accelerating progress in the tech space,’’ disclosed Omoniyi Kolade, Founder and CEO of SeerBit. ‘‘Technology has demonstrated its incredible power to transform lives and developers are the visionaries driving that transformation.

DevFest Lagos 2024 provided the perfect platform for us to engage, inspire and empower developers with the tools and support they need to drive this change. Our goal of impacting one billion lives reflects our long-term commitment to contributing significantly to growth and development within and beyond the tech industry,” he added.

One of the highlights of SeerBit’s participation was the exposure of a memorable brand video which reflected the brand’s visionary ideal in helping businesses of all sizes scale at the speed of commerce and technology.

Also catching the attention was the company’s booth which remained a major attraction point for thousands of attendees, sparking meaningful discussions about integrating SeerBit’s tools into their projects and fostering further growth and impact through the SeerBit community. Crucially, the SeerBit community – SeerBit Developer Community – presents a unique opportunity for attendees to benefit from networking, career growth and hiring opportunities.

The excitement among developers was palpable, with many expressing keen interest in leveraging SeerBit’s products. Afolake Ojo Makinde, a software engineer based in Abuja, attended DevFest Lagos for the first time.

She shared her enthusiasm. “The SeerBit team was incredibly approachable and insightful. Their payment tools are intuitive and I can’t wait to integrate their APIs into my app. It’s inspiring to see a company so invested in helping developers succeed.”

Also lauding SeerBit’s role in the success of the event, was Femi Taiwo, Co-Organiser of DevFest Lagos 2024.

“DevFest Lagos 2024 was an extraordinary celebration of innovation, collaboration and community. With over 3,400 attendees across two action-packed days, we brought developers together to learn, share and grow through technical talks and workshops, led by solid people from within and outside the continent.

“This also created networking opportunities for the community. We’re grateful for the invaluable support of our partners like SeerBit who played a key role in making this event a success and empowering the tech ecosystem in this region and beyond.”

SeerBit’s partnership with the GDG Lagos, organisers of DevFest Lagos 2024, spans several years, aligning with the brand’s mission to positively impact one billion lives through accessible, inclusive and economically empowering digital payment solutions.

The partnership has seen SeerBit supporting various developer-led events hosted by GDG across the country such as Ilorin, Lagos, and Jos, as the brand continues to lead in empowering developers with the tools and resources that they need to create innovative solutions to equip businesses for economic growth.

As part of this project, SeerBit announced further plans to launch several developer-focused initiatives in 2025, including hackathons to challenge and inspire the creation of groundbreaking solutions, capacity-building programmes to train developers, product managers and other tech enthusiasts, as well as seed funding opportunities for standout developer-led projects.

SeerBit is a Pan-African payment solutions provider that makes it easier for businesses and financial service providers to make and accept payments from their customers across Africa. Users have the advantage of enjoying flexible features to fit any business with a single integration.

SeerBit is building a unified payment ecosystem that removes the complexity and fragmentation of the digital payment process in Africa, enabling businesses to seamlessly accept multiple payment methods and streamline online and offline transactions.