The latest report by IMARC, titled “Telecom Analytics market: Global Industry, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global telecom analytics market size reached US$ 4.4 Billion in 2021. Telecom analytics refers to a business intelligence technology specially applied and packaged to cater to the multifaceted requirements of telecommunication organizations. It is used to minimize operational costs and maximize profits by increasing sales, improving risk management, and reducing fraud. It aids in communicating with customers, designing competitive packages, and configuring the network to deliver reliable services. In recent years, several telecom companies are opting for telecom analytics as it enables communication service providers (CSPs) to examine data and develop valuable insights.
We are regularly tracking the direct effect of COVID-19 on the market along with the indirect effect of the associated industries. These observations will be integrated into the report.
Global Telecom Analytics Market Trends:
One of the primary factors driving the market is the increasing amount of telecom data present globally. Additionally, as telecom analytics are used to prevent revenue loss, enhance the quality of customer services, reduce churn, and minimize marketing and sales cost, their demand has escalated across the globe. Other than this, the rising adoption of new technologies, including Artificial Intelligence (AI) and Machine Learning (ML), is creating a positive market outlook. Besides this, the need to streamline revenue management is constantly surging, thereby propelling the market growth. Apart from this, telecom analytics assist business owners in reducing risks and making appropriate business decisions. They also provide qualitative and quantitative metrics offering objective Key Performance Indicators (KPIs) or Key Quality Performance (KQIs) measurements to various applications for business, customer, or network use cases. In line with this, key players are using technologies, such as the Internet of Things (IoT), data science, and big data, that offers customer understanding, revenue maximization, and cost-efficiency, thereby propelling the market growth. Other growth-inducing factors include developments in information technology (IT) infrastructure and increasing network attacks and online data security threats. Looking forward, IMARC Group expects the market value to reach US$ 10.1 Billion by 2027, expanding at a CAGR of 15.1% during the forecast period (2022-2027).
- Based on the component, the market has been bifurcated into solution and services.
- On the basis of the deployment mode, the market has been divided into cloud-based and on-premises.
- Based on the organization site, the market has been segmented into large, and small and medium-sized enterprises.
- On the basis of the application, the market has been segregated into customer management, network management, sales and marketing management, risk and compliance management, and others.
- Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been analyzed, with some of the key players being Accenture plc, 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 and TIBCO Software Inc.
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