The global telecom analytics market is expected to reach at US$ 11.70 Bn by 2027, witnessing a growth of 18.88% CAGR across the forecast period of 2019 to 2027.
Product Insights:
Data analytics in telecom sector brings value in decision making and provide more precise and actionable insights, giving competitive advantages to telecom companies and able them to chart more efficient cost structure. Huge amount of unstructured data is created from social media, communication and connected devices; when converted into structured data, telcos can take out an insightful information about their customer preferences and choices which in turn will help telcos to figure out customer profile and produce more targeted offers. Growing competition among telecom players along with higher churning rate of customers have pushed the telecom operators to use data analytics and business intelligence in decision making.
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Based on offering, telecom analytics market was dominated by solutions segment in 2018. Telcos are more concerned about churn prediction and its prevention, revenue management and effective marketing strategies targeted towards alike customers to improve subscriptions. In addition to this, with data analytics, telcos can derive real-time network performance measurement to optimize their network quality. Using data analytics, telcos can detect fraud calls and hacking, thereby improving their overall operations as well as customer experience. All these benefits offered by data analytics has influenced the solution segment which in turn helps to grow the telecom analytics market.
In terms of geography, North America held the largest share in telecom analytics market in 2018. The market here is primarily governed by the high spending over analytics solutions in the region. The presence of large number of industry players such as IBM, Oracle Corporation, etc. among others in North America is another factor supporting the regional growth. Also, telecom industry is highly developed in North America with robust penetration of telecom industry among population. This high penetration of telecom users creates large data which in turns helps to grow the market of telecom analytics in North America.
Competitive Insights:
Some of the major players profiled in telecom analytics market includes IBM, Oracle Corporation, SAP SE, Adobe Inc., Tableau Software, Alteryx, Inc., MicroStrategy Incorporated, Sisense, Inc., Teradata Corporation, Micro Focus International plc, TIBCO Software Inc., OpenText Corporation and Panorama Software, etc. among others. These players are adopting various strategies such as acquisition and partnership with other players to increase their market share.
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Cloud-based Segment accounted for the Largest Market Share in 2018
Based on deployment type, cloud-based segment has major share in telecom analytics market in 2018. Cloud-based analytics provides readily available data models, servers, advanced tools and analytics. This saves time and money for building infrastructure like in case of on-premise analytics. Cloud-based analytics offers real-time access to data for broader user base. These solutions are high powered and can deliver result in no time. In cloud platform, unlimited data storage limit is available on demand unlike on-premise platform where there is limit on storage capacity and performance. Subsequently, cloud-based analytics segment would continue leading the market registering high growth rate.
North America Gathered Largest Market Share in 2018
In 2018, North America led the telecom analytics market worldwide. The region is expected to witness a considerable growth during the forecast period from 2019 to 2027. Large number of telecom operators are situated in North America and there is a growing competition among these players to increase their number of subscribers. By 2018, more than 30% of market share is captured by this region.
As of 2019, more than 90% of Americans use internet for communication which is more than 275 million people. Millions of GB data created by these users is used for analyzing the customer choices and personality. Large number of internet users in the region and their creation of huge data has forced the players to invest in telecom analytics to stay competitive in the big market of North America. This in turn helps to grow the telecom analytics market in North America.
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