According to a new market report published by Credence Research, Inc., “Global Telecom Analytics Market (By Offering (Solutions and Services), By Application (Customer Management, Sales & Marketing Management, Risk & Compliance Management, Network Management, Workforce Management), By Deployment Model (On-premise, Cloud-based) – Growth, Future Prospects and Competitive Landscape, 2019 – 2027”, 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.
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.
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.
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.
Browse the full report at https://www.credenceresearch.com/report/telecom-analytics-market
The Global Telecom Analytics Market is Segmented into:
|Segmentation||By Offering Type Segment (2017–2027; US$ Bn)|
|By Application Type Segment (2017–2027; US$ Bn)|
|By Deployment Model Segment (2017–2027; US$ Bn)|
|By Geography Segment (2017–2027; US$ Bn)|
*Complete segmentation list is on report page
For instance, in August 2019, Salesforce, a CRM company acquired Tableau Software, a data analytics company. With this acquisition, Salesforce will strengthen its position in AI powered analytics platform which will give better insights for decision making. Moreover, in August 2019, TIBCO Software Inc., has announced its integration with Snowflake, a data warehouse for cloud. This integration will help cloud-based enterprises to get insights of Snowflake data warehouse.
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