While most attention on the changing demographics of western countries is focused on the impact of g...
While most attention on the changing demographics of western countries is focused on the impact of growing pensions costs, a new report looking at the telecoms industry says the effects could be just as disastrous for companies that neglect to look at their changing customer bases.
US based Probe Research says the telecoms industry needs to address its ignorance of the non-youth market, which so far has been seen as the driver of sales of new products and services, or companies will go out of business.
According to figures it quotes, the total number of people in the 0-19 age group will decline 12% in the US, Japan, India, China, Brazil, Indonesia and Mexico over the next 50 years.
These countries combined account for about half world's current population.
The key 20-59 age group in those territories will experience little change, but that compares to the 250% increase in the number of people aged 60 and above that implies "tremendous changes in our global economies both in the near and long term."
"The two key Japanese domestic carriers face an internal market that has saturated or will soon saturate. There will be no internal growth in the country as its population declines. European carriers are in a similar boat. These economies will soon run out of their abilities to generate internal growth. The US regional carriers too, if they intend not to be swept away by a super competitor, must be cognisant of the very deep and powerful population forces that will once again rewrite both U.S. and world history. In fact, all the carriers that dominate the world today are in danger of being shunted aside in favour of global companies and whatever entities emerge as the major carriers in the developing world who have successfully targeted the changing market."
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