Market Overview
The telecom analytics market is expected to reach a market size of 32.56 billion dollars by 2030 with a CAGR of 21.51%. Telecom analytics involves the condensation of a huge amount of intricate data to insights that can be understood and acted on according to needs. The service is a service of intelligence and is provided by Communication Service Providers also known as CSPs.
There are many benefits attached to the market that create some favorable opportunities in the market environment. One of these benefits is the rapid increase in technology that calls for more telecom analytics due to the growing needs. Another reason that creates a favorable opportunity is the rise in the adoption of cloud-based technology. These advances in telecommunication technology create scope for the analytics market to grow. The sector is seeking to increase operational visibility will help the market to grow. Another factor that the market growth owes to is the betterment of revenue management solutions.
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The industry is responsible for bringing together several Business Intelligence, or BI services and solutions. Some services it provides include the development of sales, reduction in churn and deceit, lowering operational expenses, and improving risk management. The industry of telecom analytics is very intricate and comprehensive but in summary, it is destined to grow in the projected period of 2022 to 2030.
Market Segmentation
The telecom analytics market is categorized on various bases. The market is segmented in a variety of ways including Analytics Type, Solution, Services, and Deployment Models among others.
- On the grounds of analytics type, the category includes network analytics, customer analytics, subscriber analytics, price analytics, location analytics, and service analytics.
- On the grounds of Solution, the categorization includes Network Management, Customer Management, Sales & Distribution, Marketing Management, and Others.
- On the grounds of Services, the market includes Managed Services and Professional Services.
- The categorization is also done on the grounds of Deployment Models which includes Cloud-Based as well as On-Premise.
Regional Classification
The continent of North America dominates the market for Telecom Analytics. The rising demand for intelligent data analytics has contributed to this growth. The United States has noticed a lot of data traffic that calls for the services of telecommunication and hence supports the analytics market. The growth can also be attributed to the increase in companies and individuals who have invested in the market. There has also been a rise in usage of smart devices after the beginning of the lockdown which has contributed to the rapid growth of the market.
In Europe, the major reason for the growth is the surge in the adoption of cloud-based technologies. In the Asia-Pacific region, there are going to be a plethora of opportunities in the market. Digitization is one of the main reasons contributing to the growth of the market.
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Industry News
There are a range of key players in the market of telecom analytics which include Nokia Networks, Amdocs, Inc., International Business Machine Corporation, Huawei Technologies Co. Ltd, Hewlett Packard Enterprise Development LP, Dell Technologies Inc., SAP SE, Ericsson, Cisco Systems Inc. Vizualytics and Oracle Corporation among others.
| Report Attribute | Details |
|---|---|
| Market Size | USD 32.56 Billion |
| Growth rate | 21.51% |
| Base year for estimation | 2019 |
| Forecast Period | 2020-2030 |
| Historical Data | 2018 |
| Key Market Opportunities | The proliferation of Customer Analytics Offers Significant Opportunities. |
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