Telecom Analytics Market Size is projected to reach USD 13.76 Billion by 2031, growing at a CAGR of 14.2%: Straits Research

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New York, United States, Nov. 23, 2022 (GLOBE NEWSWIRE) — Churn prediction, social network analytics, and customer engagement are just a few of the ongoing issues that the telecommunications industry must deal with. To meet their complex needs, businesses can obtain business intelligence (BI) from the telecom analytics solution. The rise in attacks and suspicious activity, the need for adequate revenue management, and the need for churn prevention all contribute to the demand for telecom analytics. The solution provides priceless insights for optimizing customer management, revenue recognition, and business operations. Predictive and prescriptive modeling methods provided by the telecom analytics solution help telecommunication clients realize a high return on investment (Roi) and lower the total cost of ownership. Modern technologies like artificial intelligence and machine learning enable real-time data analytics. Telecom analytics powered by big data offers insightful information that supports outcome forecasting. As a result, Al-driven telecom analytical solutions are becoming more widely adopted. The growth of the telecom analytics market will likely be supported by the ability of Al analytical platforms to reduce risks and fully automate the analysis process.

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Increased Demand for Reduction of Churn

In the telecom sector, churn refers to the percentage of subscribers who switch service providers within a set time frame. Businesses are putting more effort into lowering churn because if the percentage keeps rising, it will be detrimental to their reputation. This hurts the company’s future sales and business. On average, churn can be decreased by 15% by using telecom analytics. Telecom service providers request the customer churn analytics tool to stop revenue losses, enhance customer service, and lower marketing and sales expenses. By implementing telecom analytics solutions, carriers can use subscriber usage data to understand subscriber behavior patterns and enhance customer experiences. It enables cross-selling and up-selling for telecom businesses. With the help of vendors in the market, carriers can now identify at-risk subscribers or the reasons behind current and upcoming churn by using telecom analytics solutions infused with machine learning to understand sentiments.

The Need to Streamline Revenue Management Is Growing

The need to streamline business processes that impact revenue is the main factor driving the growth of the telecom analytics market. Telecom companies generate revenue greatly influenced by various factors, including the number of subscribers, value-added service sales, billing fees, etc. Telecom analytics can pinpoint the areas that need to be improved to increase the revenue of telecom companies. Telecom analytics software enables effective risk management and business decision-making. Additionally, it supports revenue growth by enabling businesses to stand out from the competition and deliver subscriber-focused scores. For various applications for business, network, or customer use cases, telecom analytics solutions can offer qualitative and quantitative metrics that provide objective Key Performance Indicators or Key Quality Indicators measurements. By using pertinent data, such as subscriber experience (xDRs), location, partners (TAP), network (probes), and activities, telecom analytics can assist in measuring the critical subscriber decisions that have an impact on revenues.

Report Scope

Report Metric Details
Market Size USD 13.76 Billion by 2031
CAGR  14.2% (2023-2030)
Historical Data 2020-2021
Base Year 2022
Forecast Period 2023-2031
Forecast Units Value (USD Billion)
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered Deployment, Applications, End Users
Geographies Covered North America, Europe, Asia-Pacific, LAME and Rest of the World
Key Companies Profiled/Vendors SAP SE (Germany), Microsoft Corporation (U.S), EMC Corporation (U.S.), Cisco Systems, Inc. (U.S.), IBM Corporation (U.S.), Nokia Corporation (Finland), Wipro Limited (U.S), Hewlett-Packard Company (U.S.), Teradata Corporation (U.S), and Accenture Plc (Ireland).
Key Market Opportunities The Need to Streamline Revenue Management, Is Growing
Key Market Drivers Increased Demand for Reduction of Churn

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Regional Analysis

North America is the most significant contributor to the global telecom analytics market and is anticipated to grow at a CAGR of 13.6 % during the forecast period. An outcome of progress in technology and developed industrial infrastructure. The primary cause of the market growth is the telecommunications sector’s rising demand for data analytics. The accelerating growth of digital marketing, including e-commerce and social media marketing, is another factor anticipated to drive market growth in the ensuing years. The presence of some of the most well-known businesses in the industry, like IBM Corporation and Oracle Corporation, also impacts regional growth. The widespread distribution of the telecom sector generates enormous amounts of data, which supports the expansion of the local market. Due to the steadily rising internet data traffic in the US, North American telecom services are in high demand. Telecom companies that offer broadband services are increasing their investments to support market expansion.

Europe is expected to grow at a CAGR of 14.7% during the forecast period. Europe is a significant global market for telecom analytics because of rising investments in delivering better service quality for rising consumption. The market growth in this area is accelerated further by adopting several technologies, including cloud services and the Internet of Things (IoT). The European Union is pressuring the companies to follow the unified telecoms legislation, changing the European telecom industry. The presence of well-known key companies is fueling the regional market’s growth. During the forecast period, the market’s growth is anticipated to be fueled by the widespread adoption of cloud and data analytics. The leading European telcos’ adoption of analytical techniques to manage procurement activities in large-scale purchasing processes is also anticipated to be a critical factor in European market growth.

Key Highlights

  • The global telecom analytics market size was valued at USD 4.17 billion in 2022. It is projected to reach USD 13.76 billion by 2031, growing at a CAGR of 14.2 % during the forecast period (2023-2031).
  • Based on deployment, the global telecom analytics market is bifurcated into on-premise and cloud. The cloud segment is the highest contributor to the market and is expected to grow at a CAGR of 14.3% during the forecast period.
  • Based on application, the global telecom analytics market is bifurcated into network analytics, customer analytics, market analytics, price analytics, and service analytics. The customer analytics segment is the highest contributor to the market and is expected to grow at a CAGR of 13.9% during the forecast period.
  • Based on end users, the global telecom analytics market is bifurcated into IT & telecom, BFSI, manufacturing, energy & power, healthcare, and others. The IT & telecom segment owns the highest market share and is expected to grow at a CAGR of 14.5% during the forecast period.
  • North America is the most significant contributor to the global telecom analytics market and is expected to grow at a CAGR of 13.6 % during the forecast period.

Competitive Players in the Global telecom analytics market

  •  SAP SE
  • Microsoft Corporation
  • EMC Corporation
  • Cisco Systems, Inc.
  • IBM Corporation
  • Nokia Corporation
  • Wipro Limited
  • Hewlett-Packard Company
  • Teradata Corporation
  • Accenture Plc

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Global Telecom Analytics Market: Segmentation

By Deployment

  • On-Premise
  • Cloud

By Applications

  • Network Analytics
  • Customer Analytics
  • Market Analytics
  • Price Analytics
  • Service Analytics

By End Users

  • IT & Telecom
  • BFSI
  • Manufacturing
  • Energy & Power
  • Healthcare
  • Others

By Regions

  • North America
  • Europe
  • Asia-Pacific
  • LAMEA

TABLE OF CONTENT

  1. Introduction
    1. Market Definition
    2. Market Scope
  2. Research Methodology
    1. Primary Research
    2. Research Methodology
    3. Assumptions & Exclusions
    4. Secondary Data Sources
  3. Market Overview
    1. Report Segmentation & Scope
    2. Value Chain Analysis: Telecom Analytics Market
    3. Key Market Trends
      1. Drivers
      2. Restraints
      3. Opportunities
    4. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitution
      4. Threat of New Entrants
      5. Competitive Rivalry
    5. Market Share Analysis
  4. Deployment Overview
    1. Introduction
      1. Market Size & Forecast
    2. On-Premise
      1. Market Size & Forecast
    3. Cloud
      1. Market Size & Forecast
  5. Application Overview
    1. Introduction
      1. Market Size & Forecast
    2. Network Analytics
      1. Market Size & Forecast
    3. Customer Analytics
      1. Market Size & Forecast
  6. Regional Overview
    1. Introduction
      1. Market Size & Forecast
    2. America
      1. North America
      2. U.S.
        1. By Deployment
        2. By Application
      3. Canada
        1. By Deployment
        2. By Application
      4. Mexico
        1. By Deployment
        2. By Application
      5. Latin America
        1. By Deployment
        2. By Application
    3. Europe
      1. Market Size & Forecast
      2. Germany
        1. By Deployment
        2. By Application
      3. France
        1. By Deployment
        2. By Application
      4. U.K.
        1. By Deployment
        2. By Application
      5. Italy
        1. By Deployment
        2. By Application
      6. Spain
        1. By Deployment
        2. By Application
      7. Rest of Europe
        1. By Deployment
        2. By Application
    4. Asia Pacific
      1. Market Size & Forecast
      2. Japan
        1. By Deployment
        2. By Application
      3. China
        1. By Deployment
        2. By Application
      4. Australia
        1. By Deployment
        2. By Application
      5. India
        1. By Deployment
        2. By Application
      6. South Korea
        1. By Deployment
        2. By Application
      7. Rest of Asia-Pacific
        1. By Deployment
        2. By Application
    5. Middle East & Africa
      1. Market Size & Forecast
      2. Saudi Arabia
        1. By Deployment
        2. By Application
      3. South Africa
        1. By Deployment
        2. By Application
      4. Kuwait
        1. By Deployment
        2. By Application
      5. Rest of Middle East & Africa
        1. By Deployment
        2. By Application
  7. Company Profile
    1. SAP SE
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    2. Microsoft Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
    3. EMC Corporation
      1. Company Overview
      2. Financial Performance
      3. Recent Developments
      4. Product Portfolio
  8. Conclusion & Recommendation
  9. Acronyms & Abbreviations

Table of Content and Figure @ https://straitsresearch.com/report/telecom-analytics-market/toc

Market News

  • In November 2022, a $2 billion telecom agreement will allow the IT service provider to compete with network equipment manufacturers like Nokia, Ericsson, and Samsung by making its telecom offerings available to potential clients worldwide.
  • In April 2022, Express Analytics, a business intelligence firm with headquarters in California, claimed to provide telecom companies with tailored solutions to reduce customer attrition and increase average revenue per user using processes supported by artificial intelligence (AI) and predictive modeling.

News Media

BYOD & CYOD Trends to Drive the Security Software in Telecom Market During the Forecast Period, 2019–2026

North America to Dominate the Telecom Analytics Market During the Forecast Period, 2019–2026

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