Global Telecom Analytics Market - Segmented by Application (Customer Analytics, Network Analytics, Market Analytics, Price Analytics, Service Analytics), Deployment (Cloud, On-premise), and Region - Growth, Trends, and Forecast (2018 - 2023)
The Telecom Analytics market has been estimated to register a CAGR of 32.71% during the forecast period (2018-2023). Telecom analytics market brings together sophisticated business intelligence (BI) technologies, which are loaded to satisfy the complex demands of the telecom industry. These include, developing sales, reducing churn and deception, enhancing risk management, and decreasing operational costs.
Telecom analytics is becoming an increasingly important component of every aspect of a communications service provider’s (CSP) operations. The demand for efficiency gains, coupled with the need to personalize customers’ experiences, is driving new installations. The scope of the study is segmented by Customer Analytics, Network Analytics, Market Analytics, Price Analytics, and Service Analytics types of application.
Need to Prevent Customer Attrition is the Major Driver for the Market
Cellular Service Providers depend on customers to use their service to gain revenue. So, in order to make the customer stay with their service, CSPs are increasingly depending on analytics tools to understand the customer’s needs, or to check for any disruption in the network. With ability to port from one operator to other operator without changing number, the attribution is further expected to increase. Thus, this will drive the market for telecom analytics, so as to provide better service to the customer.
Network Analytics Segment is expected to have Significant Market Share
The network analytics feature brings visibility to the performance and behavior of the data center infrastructures. This feature collects data and analyzes the latter using sophisticated algorithms. Network optimization is allowing the CSPs to meet the expanding demands placed on today’s converged networks. The new generation of network analytics abilities can support better capacity planning and traffic management, as well as more efficient service assurance to deliver a customer experience that retains subscribers and increases revenue. Analytics is a significant growth possibility for the CSPs, helping them to innovate and outperform an ever-expanding list of competitors.
North America is expected to dominate the Market for Telecom Analytics
In the United States, fixed-line broadband penetration has reached close to 100%. And mobile penetration is also in excess of the population of several countries. Mobile internet penetration is dramatically increasing in this region. North America has some of the world’s largest cellular service providers, who rely excessively on consumer feedback. By opting for telecom analytics, the CSPs can provide better quality service at high efficiency. The major network providers in this region are always competing to draw customers to their services. In order to avoid consumer attrition, these CSPs are expected to focus on using analytics tools to recover on areas where they have been below par once. The amount of data traffic has also increased significantly, forcing the CSPs to offer services without any disruption efficiently. Coupled with a growing consumer base for mobile phones and other cellular devices, the adoption of telecom analytics by CSPs is only destined to increase.
Key Developments in the Market