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Subscriber Data Management Market Trends, Business Growth And Major Players And Forecast To 2033
Subscriber Data Management Market Trends
According to The Business Research Company's, The subscriber data management market size has grown rapidly in recent years. It will grow from $6.65 billion in 2023 to $7.87 billion in 2024 at a compound annual growth rate (CAGR) of 18.3%. The growth in the historic period can be attributed to internet growth, increasing advanced telecom services, demand for personalized services, growth in mobile subscriptions, increasing competition among telecom operators.
The subscriber data management market size is expected to see rapid growth in the next few years. It will grow to $15.15 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. The growth in the forecast period can be attributed to cloud deployment dominance, telecom network functions virtualization (NFV) software growth, increased ICT spending on new technologies, growing demand for smart TVs. Major trends in the forecast period include cloud deployment dominance, shift towards industry 4.0 implementation, emphasis on security and cost reduction, growing demand for SDM-as-a-Service, adoption of federated identity management models.
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Market Drivers and Trends:
The increased usage of internet services is expected to propel the subscriber data management market going forward. Internet services refer to the services provided by telecommunications providers to users on the internet. With the shift to remote work and online education, digital transformation has significantly increased the demand for Internet services. Subscriber data management (SDM) efficiently manages user data in telecommunications networks and enables secure management of user information, personalized service delivery, and compliance with regulatory standards. For instance, in February 2023, according to Meltwater, a UK-based media monitoring company, the total number of internet users in the UK reached 66.11 million, an increase of 224 thousand users (+0.3%) compared to the 2022-2023 years. Therefore, the increased usage of internet services is driving the growth of the subscriber data management market.
Major companies operating in the subscriber data management market are focusing on developing innovative technologies such as MongoDB Atlas to enhance their capabilities in deploying applications closer to real-time data sources. MongoDB Atlas solution refers to a service or infrastructure that is hosted and delivered over the internet, and it simplifies manual tasks and runs on diverse edge infrastructure. For instance, in September 2023, MongoDB Inc., a US-based software company, introduced advanced data management capabilities called MongoDB Atlas for the Edge. This solution expands MongoDB's cloud database service. With the deployment of MongoDB Atlas for the Edge, organizations can run applications and oversee data closer to its source. This offering is particularly beneficial for scenarios where real-time data processing and analysis are critical, such as in IoT deployments, remote locations with limited connectivity, or edge computing environments requiring local data storage and processing capabilities.
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Major Key Players of the Market:
Huawei Technologies Co. Ltd., Accentur*e plc, International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Telefonica SA, Hewlett Packard Enterprise Company, LM Ericsson, Nokia Corporation, NEC Corporation, ZTE Corporation, Telenor Group, Tech Mahindra Ltd., Juniper Networks, Amdocs Inc., Netcracker Technology Corp., Comverse Technology Inc., CSG International, Syniverse Technologies LLC, Acxiom, Comarch SA, Sumo Logic, Optiva Inc., Alepo Technologies Inc., Comptel Corporation
Subscriber Data Management Market 2024 Key Insights:
• The Subscriber Data Management Market is expected to grow to $15.15 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%.
• Rising Internet Services Usage Ignites Subscriber Data Management Market Growth
• Redefining Data Management For Real-Time Applications In Remote Locations
• North America was the largest region in the subscriber data management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the subscriber data management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The Business Research Company (https://www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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