According to a research report "Telecom Analytics Market by Application (Customer Management, Sales and Marketing Management, Risk and Compliance Management, Workforce management, and Network Management), Component, Deployment, Organization Size, and Region - Global Forecast to 2023" published by MarketsandMarkets, The telecom analytics market size is expected to grow from USD 3.1 billion in 2018 to USD 6.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period. The key factors driving the telecom analytics market include the growing need for churn prevention, increasing demand for streamlined and effective revenue management, and rising online attacks and suspicious activities.
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The network management segment to grow at the
highest CAGR during the forecast period
Network management
incorporates network utilization analytics, capacity planning and management,
traffic volume forecasting, call route optimization, and performance
management. Telecom service providers have adopted data and analytics solutions
to support better capacity planning and traffic management, achieve service
assurance level, and deliver enhanced customer experience, leading to higher
subscriber retention and increased revenue.
The services segment to grow at a higher CAGR
during the forecast period
Based on components, the
telecom analytics market is segmented into software and services. The services
segment is expected to grow at a higher CAGR during the forecast period.
Professional services and managed services help enterprises in building
successful client relationships by continuously supporting them through the
business tenure. Furthermore, these services benefit enterprises by maximizing
resource usage, improving project execution, and streamlining business
operations. The need for services, such as consulting services, would also
grow, as the adoption of telecom analytics software increases.
The on-premises deployment model to hold a
larger market size during the forecast period
Based on deployment models, the market
is segmented into on-premises and cloud. Flexibility to customize solutions,
and data security and privacy in the heavily regulated telecom industry are the
key factors driving the adoption of on-premises telecom analytics solutions.
This deployment method enables telcos to have ownership of their data and
analytics workloads manage risks; business processes; and industry policies,
and compliance. This deployment model provides organizations the ownership of
their data and the digital rights associated with it.
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North America
to account for the largest market size during the forecast period
The global telecom analytics market by region covers 5
major geographic regions, namely, North America, Asia Pacific (APAC), Europe,
Middle East and Africa (MEA), and Latin America. North America is expected to
account for the largest market size during the forecast period. It is expected
to hold the highest market share and dominate the market from 2018 to 2023, due
to the presence of a large number of solution vendors in the US. The APAC
region is witnessing significant growth opportunities, owing to growing
technology expenditure in major countries, such as Japan, China, and India and
rising demand for cost-effective analytical software and services by Small and
Medium-sized Enterprises (SMEs).
Key
Market Players
The telecom analytics market comprises major solution
providers, such as SAP (Germany), Oracle (US), IBM (US), SAS Institute (US),
Adobe (US), Cisco (US), Teradata (US), Micro Focus (UK), TIBCO (US),
MicroStrategy (US), Tableau (US), Panorama Software (Canada), Qlik (US),
OpenText (Canada), Alteryx (US), and Sisense (US).
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