Telecom Analytics Market Synopsis:
The global telecom analytics market is projected to witness a double-digit CAGR of 29.01% during the forecast period (2018-2023). There is a growing need for robust analytics solution in the telecommunication sector. With the rising volume of telecommunication date, the spotlight is shifting on application-specific analytics such as telecom analytics. Companies are leaning towards such solutions to increase operation visibility, boost sales and better manage operation expenses.
Towards 2023, the telecom industry report is expected to reach a valuation in excess of USD 11,300 Mn.
Analytics is finding more and more application opportunities in the telecommunication sector. It is used in preventing customer churn, improving sales and increasing risk management capabilities. Some of prominent analytics that are presently used include network analytics, location analytics, service analytics, customer analytics, price analytics and subscriber analytics. They are being increasingly used in resolving complex issues faced by telecommunication companies as they facilitate timely and accurate insights into operational developments. Various new-age technologies coincide in telecom analytics. However, high cost of maintenance and slow penetration of the technology in developing countries are some of deterring element for the market.
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Telecom Analytics Market Key Players:
The key players profiled by Market Research Future (MRFR) that are operating in the global telecom analytics market are Amdocs, Inc., Nokia Networks, Oracle Corporation, Ericsson, Hewlett Packard Enterprise Development LP, Teradata, International Business Machine Corporation, Cisco Systems Inc., Huawei Technologies Co. Ltd, Dell Technologies Inc., Vizualytics and SAP SE.
Telecom Analytics Market Segmental Analysis:
The global telecom analytics market has been segmented on the basis of analytics type, deployment models, and components. Based on analytics type, the global telecom analytics market has been segmented into network analytics, location analytics, customer analytics, subscriber analytics, service analytics, and price analytics. The network analytics segment commands the major share of the global telecom analytics market.
This segment generated the revenue of USD 608.8 Mn in the year 2016 and is anticipated to expand at a healthy CAGR during the assessment period. The customer analytics segment commands the second largest market share of the global telecom analytics market during the assessment period. Based on component, the global telecom analytics market has been segmented into services and solutions. The solution segment commands the maximum share of the global telecom analytics market.
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Telecom Analytics Market Regional Analysis:
Geographically, the global telecom analytics market has been segmented into five major regions such as Asia Pacific (APAC), Latin America, North America, Europe, and the Middle East and Africa. The North America region commands the maximum share of the global telecom analytics market during the assessment period.
The factors such as rapid expansion of the telecommunication industry as a result of increasing user base of cellular devices, increasing presence of advanced infrastructure, rise in adoption of telecom analytics services by multiple companies in order to increase operation visibility and properly managing operation expenses, and high demand for intelligent solutions in rapidly evolving telecommunication sector are majorly propelling the growth of the global telecom analytics market in the North America region.
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