Rise in need for streamlining revenue management, increase in demand for fraud detection due to network attacks, and the need for churn reduction drive the growth of the global telecom analytics market
Surge in need for streamlining revenue management, rise in demand for fraud detection due to network attacks, and the need for churn reduction drive the growth of the global telecom analytics market. However, lack of awareness of telecom analytics among telecom operators hampers the market growth.
On the contrary, integration of new technologies such as machine learning and AI in telecom analytics is expected to create lucrative opportunities in the near future. The global telecom analytics industrywas pegged at $3.52 billion in 2018 and is expected to reach $9.89 billion by 2026, registering a CAGR of 13.90% from 2019 to 2026.
The solution segment held the largest share in 2018, contributing to more than two-thirds of the global telecom analytics market. The adoption of this solution and multiple benefits offered by telecom analytics such as developing customized customer care strategies, improving customer experience, reducing the rate of customer churn, and analyzing the potential of new offerings drive the growth of the segment.
However, the service segment is projected to register the fastest CAGR of 15.40% during the forecast period. This is due to rise in adoption of software and platforms, and increase in demand for cloud-based telecom analytics services.
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The on-premise segment dominated the market in 2018, accounting for nearly three-fifths of the global telecom analytics market. The investments by large enterprises for in house software deployment, and the need to secure the critical data and usage of legacy system are driving the growth of this segment.
However, the cloud segment is expected to manifest the fastest CAGR of 15.50% during the forecast period. The low investment cost agility, and scalability offered by telecom analytics as a service are driving the growth of the segment.
Furthermore, the rise in need for mobility, and increase in adoption of cloud technology by small scale enterprises are expected to provide lucrative growth in the near future.
The global telecom analytics market across North America held the largest share in 2018, accounting for nearly two-fifths of the market. This is due to the presence of a large number of market vendors in this region.
Moreover, the proliferation of smart phones, IoT, and great presence of internet connectivity are anticipated to boost the growth of the market. On the other hand, the Asia Pacific region is expected to register the fastest CAGR of 16.0% during the forecast period.
This is attributed to the growing tele communication industry in this region. Furthermore, rise in use of smartphones, and increase in adoption of fast internet is expected to increase the growth in this region.
Major market players
- SAS Institute
- SAP SE
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Key questions answered in Telecom Analytics Market research study:
• What is the market growth rate of Telecom Analytics Market from 2020-2027?
• What will be the global market size of the market from 2020 to 2027?
• Who are the leading global players in the Telecom AnalyticsMarket?
• What are the current trends and predicted trends?
• What are the challenges faced in the Telecom Analytics Market?
• Which will be the niches at which players profiling with thorough plans, financials, and also recent advancements should set a presence?
• Which will be the anticipated growth rates for your own Telecom AnalyticsMarket economy altogether and also for every segment inside?
• Which will be the Telecom Analytics Market application and types and forecast accompanied closely by producers?
• What are the conclusions of the Telecom Analytics Market report?
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