Press release
With 15.1% CAGR, Telecom Analytics Market Size Worth US$ 10.1 Billion in 2027
Telecom analytics is an intelligence process that facilitates communication service providers (CSPs) in examining voluminous data and drawing actionable insights. It involves data mining, text analytics, forecasting, optimization, multidimensional analyses, and the use of descriptive and predictive modeling. It is integrated with renewable energy sources, such as solar and wind, to offer energy-efficient services at reduced operating prices. It comprises numerous components, including batteries, rectifiers or inverters, and power system controllers. It helps design competitive packages, communicate with customers, configure the network to deliver reliable services, and monitor the quality of the experience. It also assists in improving efficiency, enhancing customer satisfaction, and increasing profitability. As telecom analytics allows carriers to gain insights from subscriber usage data, comprehend behavior patterns, and enable the opportunity for cross-selling and up-selling, it is gaining traction across the globe.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Telecom Analytics Market Trends:
Considerable growth in the telecom industry and the increasing amount of telecom data for improving customer loyalty and reducing churn represent one of the major factors bolstering the market growth around the world. In addition, the rising number of smartphone users and increasing penetration of high-speed internet connectivity is contributing to the market growth. The growing complexity of business operations is also driving the adoption of telecom analytics to identify limitations, reduce risk, create suitable decisions, and increase revenue growth. Apart from this, the rising adoption of telecom analytics in small and medium-scale enterprises (SMEs) to enhance operational activities on account of the rising cloud-based solutions and remote working models is influencing the market positively. Moreover, telecom analytics is employed in the banking, financial services and insurance (BFSI) industry for streamlining banking operations.
It is also used for registering customers through an automated archive of previous calls. This, in confluence with the rising utilization of online banking services, is augmenting the market growth. Furthermore, the integration of the Internet of Things (IoT), big data, and data science in telecom analytics that provides revenue maximization, customer understanding, and cost-efficiency is offering lucrative growth opportunities to leading players operating in the industry. Besides this, key players are extensively investing in research and development (R&D) activities to introduce telecom power systems with advanced components, such as enhanced monitoring capabilities, improved flexibility, advanced energy control, and higher energy efficiency and power density. Along with this, significant improvement in the information technology (IT) infrastructure is expected to strengthen the growth of the market in the coming years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global telecom analytics market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, organization size and application.
Breakup by Component:
Solution
Services
Breakup by Deployment Mode:
Cloud-based
On-premises
Breakup by Organization Size:
Large Enterprises
Small and Medium-sized Enterprises
Breakup by Application:
Customer Management
Network Management
Sales and Marketing Management
Risk and Compliance Management
Others
Market Breakup by Region:
North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Competitive Landscape with Key Player:
Adobe Inc.
Cisco Systems Inc.
Dell Technologies Inc.
International Business Machines Corporation
Oracle Corporation
SAP SE
SAS Institute
Sisense Inc.
Tableau Software (Salesforce.com Inc.)
Teradata Corporation
TIBCO Software Inc.
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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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