According to Market Research Future (MRFR), the global telecom analytics market is estimated to reach USD 11,359.4 million, with a compound annual growth rate of 29.01% from 2018 to 2023 (forecast period). The study discusses and assesses the effect of the outbreak of COVID-19 on the global telecom analytics industry, including opportunities and threats, drivers, and risks.
Telecom analytics can be defined as a compendium of business intelligence (BI) technologies accumulated in a single, wide-ranging set to meet the intricate needs of telecommunications operators and enterprises. Currently, the function of business intelligence has grown from simply reporting and submitting a dashboard to highly established capabilities from multi-dimensional analysis and ad hoc querying analysis with the aid of systematic analysis and other intelligent devices. With the addition of analytics in the communications field, one can literally get a peek into the core operations of the industry, along with insights into the various internal operations. It also helps to define the company's current position with regard to market opposition by defining advanced developments and expected parameters. In the coming future, solutions in the global telecommunications analytics market will evolve in order to incorporate functionalities such as video optimization amongst different others and deep packet inspection.
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Market Dynamics
The telecom analytics market is fuelled by a variety of factors, such as mounting deception activities to avert from consumer churn and improving revenue management. On the other hand, this market faces a range of drawbacks, such as lack of information on telecom analytics, privacy concerns, and high cost of security. Telecom analytics serves a range of functions such as marketing management, customer management, sales & distribution, network management, and other support functions such as optimization, MIS, continuous monitoring, and so on. Advanced countries in North America, Europe, and Asia will remain the hotspots for market players throughout the assessment period.
Market Segmentation
The global market for telecom analytics has been segmented on the basis of analytics type, component, and deployment models.
On the basis of analytics type, the global telecom analytics market has been segmented into customer analytics, price analytics, network analytics, subscriber analytics, location analytics, and service analytic.
On the basis of component, the global telecom analytics market has been segmented into solutions and services. The solution is further divided into customer management, network management, marketing management, sales & distribution, and others. Services are further segregated into professional services and managed services.
On the basis of deployment models, the global telecom analytics market has been segmented into on-premise and cloud-based.
Regional Analysis
By region, the global telecom analytics market analysis has been segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).
North America has vast revenue-generating potential. The renown of the regional market can be related to the existence of large numbers of vendors, especially in the United States. On the other hand, rising expenditure on telecommunications in developing regions in Asia will make regional demand increasingly lucrative.
Key Players
Amdocs, Inc., Nokia Networks, Hewlett Packard Enterprise Development LP, International Business Machine Corporation, Huawei Technologies Co. Ltd, Dell Technologies Inc., SAP SE, Ericsson, Vizualytics, Cisco Systems Inc., Teradata, and Oracle Corporation.
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