Millennials value connectivity and electricity more than plumbing and heating
A new study from CommScope has revealed that millennials are so accustomed to constantly being connected that they would rather give up plumbing and heating before giving up connectivity and electricity needed to power their mobile devices.
The millennial generation will place a large burden on global network operators who will have to plan for continued capacity growth, greater flexibility, a larger array of services as well as corresponding billing models if they hope to meet the demand of those born between 1980 and 2000.
By 2025, three of every four people in the global workforce will be a millennial and their preferences and spending habits will directly impact the telecommunications sector. Over 85 percent of millennials own smartphones and more than three quarters (77 percent) of the group believe that they should be ale to stream video wherever they find themselves.
However, they are willing to pay more for better service with half of the group claiming that they would spend five percent of their annual salary for super-fast internet.
CommScope’s study also found that millennials see social media as their main form of communication which is significantly higher than one third of baby boomers who are using social networks as their primary means of communication.
In order to remain competitive once as this generation grows network providers will have to make several key changes to their operations including building out and expanding their networks, increasing the speed and capacity of wireless networks and helping to increase the adoption of fiber to meet the growing needs of Millennials.
The Chief Technology Officer at CommScope, Morgan Kurk contributed his thoughts on the millennial generation: "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".
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