Pune, India, Feb. 10, 2023 (GLOBE NEWSWIRE) -- As per Fortune Business Insights, the telecom analytics market size is envisaged to gain steady momentum over the next few years owing to increasing use of smart devices such as smartphones and increasing data traffic, Increasing Adoption of Remote Work Culture to Bolster Growth.
According to reports, the market is expected to grow at a significant rate during the forecast period. The Telecom Analytics Market growth is attributed to the increasing demand for data analytics and machine learning solutions in the telecom sector. The use of these solutions helps telecom companies to improve their operational efficiency and make better business decisions.
Industry Developments:
Sisense and Periscope Data made a collaboration to launch an autonomous business intelligence data analytics platform. This new solution will help Simens to provide complex analytical solutions using periscope data for its cloud data teams.
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The Telecom Analytics Market is on the rise with an increase in the use of advanced analytics, data analytics, and machine learning techniques in the telecom industry. With the increase in demand for telecom services, telecom companies are investing in telecom analytics solutions to improve their market share and stay ahead of their competition.
Key Takeaways:
- The market growth is mainly attributed to the growing demand for data analytics from the telecommunication sector.
- The market is poised to grow due to the increasing demand for streamlining telecom operations.
- The widespread adoption of AI-driven analytics is contributing to the growth of the market.
- The rising incidents of data breaches and cyberattacks in networks are driving the market forward.
Drivers and Restraints:
- Deployment of 5G Technology is expected to Drive the Market Growth
- Increased spending by government and telecom agencies in deployment of 5G technology has made customers shift more frequently on next generation technology.
- The smartphone device is the major factor for the growth of the market. Additionally, the increasing number of mobile users, demand for high speed connectivity are also fueling the market growth.
- Furthermore, increasing data attacks, cyber breaches are also driving the telecom analytics market growth.
- On the other hand, lack of awareness is the major market constraint.
- The Need to Streamline Revenue Management Is Growing
Market Segmentations for Telecom Analytics:
The Telecom Analytics Market is segmented into two key components - solutions and services. In terms of deployment, the market is further categorized into large enterprises, small enterprises, and medium enterprises. Additionally, based on the application, the market is divided into customer management, sales and marketing management, network management, and risk and compliance management. Finally, the market is geographically divided into five regions including North America, Europe, Asia Pacific, South America, and the Middle East and Africa.
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Salient Features of the Report:
- Market Overview: The report provides an overview of the market, including its definition, segmentation, and applications.
- Market Size and Forecast: The report includes a detailed analysis of the market size, including historical data and forecast projections.
Regional Insights:
North America to Dominate Backed by Increasing Investment on Telecom Sector
- North America holds the largest Telecom Analytics market share due to increasing investments by companies in advanced analytical solutions. The market is growing rapidly due to the increasing demand for data analytics from the telecommunications sector.
- The constantly growing internet data traffic in the United States is driving the demand for telecom services in North America. Broadband telecom service providers have made substantial investments in network capital, with the "US State of Telecom Industry Report-2020" reporting investments of over USD 1.7 trillion from 1996 to 2018.
- North America is one of the leading regions in terms of the adoption of telecom analytics solutions, which is driving the growth of the market in this region. The use of advanced analytics and machine learning techniques in the telecom sector is providing a competitive edge to the telecom companies by enabling them to improve their customer services and increase their efficiency.
Competitive Landscape:
Key Players to Focus on Launching New Products to strengthen the Market Growth
The global market for computing mouse has many key companies that are constantly trying to develop unique devices to cater to the demand of consumers across the globe. To do so, they are joining hands with local or reputed firms, launching new products to strengthen their portfolio in the market.
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Players in the Global Telecom Analytics Market:
- Adobe Systems Inc.
- Techvantage
- Anodot Ltd
- IBM Corporation
- Micrososft Corporation
- SAS Institute
- Microstrategy
- Radisys Corporation
- Huawei Technologies Co.
- Cisco Systems, Inc.
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