Pune, India, April 30, 2019 (GLOBE NEWSWIRE) -- Market Research Future Reports has published its latest reports which states that the global CSP network analytics market is likely to surpass a valuation of USD 1406.6 million by the year 2023. Earlier the global market for CSP network analytics recorded an estimate of USD 567.4 Million in 2017 which got raised within five years and blossoming in positive ways. Now that the market is rising at a CAGR of 16.8%, this speed will remain over the forecast period of 2017-2023. The boom in cloud-based applications and services has put more pressure on networks to perform without any failure. This has made the operators of major networks, including communication service provider (CPS) to find new solutions to automate their networks and respond to the scaling demands. These new-age challenges in communication sector have met an ever-increasing requirement for cloud-based applications and automating networks to enable improved service velocity, fault remediation, and network security.
Since many years, there has been colossal traffic across networks which caused due to various enhancements of wireless infrastructure, edge computing and mounting adoption of Wi-Fi. These largely exaggerated the complexity for telecom providers to deliver quality services to the users, which has necessitated telecom operators for proper management of networks to integrate new elements and technologies with the updated or new-age network infrastructure to provide quality service to the customers. Such a state of the networking sector depicts that the operational landscape of CPS has been in a state of flux. There have been a lot of unprecedented changes in the network sector that are driven by evolving market demands and regulations. By this, the business strategies are revising and becoming increasingly apparent.
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The MRFR report states that CSP network analytics market is expected to witness significant growth which is mainly attributed to the increased penetration of internet, which has eventually surged the demand for mobile applications and has created new avenues of growth for the market. It has been estimated that nearly 45% of the global population had access to the internet in 2016. With that increasing adoption of automation and virtualization as well as increasing demand for quality of experience (QoE) maintenance have also contributed to the best of growth of the CSP network analytics market. With the enhancements of wireless infrastructure which includes the adoption of WiFi access points, 4G networks, VoLTE, edge computing and more has increased the traffic across networks exponentially. These factors are expected to surge the number of smartphone users and the need for better network connectivity. The obligation for technological advancements to provide quality of experience is also likely to rise over the forecast period. However, a snowballing number of data breaching cases are touted to be a significant concern for the growth of the CSP network analytics market during the forecast period.
Market Segmentation
MRFR’s report offers a detailed segmental analysis of the CSP network analytics market based on component, deployment, organization size, and end-user. By the mode of component, the software is accounted to be leading segment which has gained a valuation of USD 361.6 million in 2017, whereas, it is expected to proliferate USD 830.8 million by the end of 2023 at a CAGR of 15.3%. Then comes the service segment, which is likely to emerge as the fastest mounting segment with 19.1% CAGR and to gain a valuation of USD 575.9 Million by the end of 2023. By the mode of deployment, this market segmentation comprises of on-cloud and on-premise, wherein, the on-premise segment has been accounted for the largest market share in 2017 while the on-cloud segment is expected to be the fastest growing segment over the forecast period. Besides, the on-premise segment is probable to hurl from USD 366.1 million in 2017 to USD 822.4 million by the end of 2023, and the on-premise segment is expected to grow at a CAGR of 14.8 %. While the on-cloud segment is expected to grow at a CAGR of 19.1 % over the forecast period and is also likely to attain USD 584.3 million by the end of the forecast period. By the mode of organization size, the segment of large enterprises is leading with expecting growth rate at a CAGR of 15.8 % over the forecast period. This segment is also projected to hurl from USD 403.1 million in 2017 to USD 951 million by the end of 2023. Whereas, the small and medium enterprise segment is expected to be the fastest mounting segment with a CAGR of 18.9% over the forecast period and has also foreseen to shoot from USD 164.4 million in 2017 to USD 455.7 million valuations by the end of 2023. By the mode of end-user, the fixed operator segment is foremost and is expected to cultivate at a CAGR of 15.6 % over the forecast period and is also likely to grasp USD 930.4 million by the end of 2023. Whereas, the mobile operator segment is expected to be the fastest growing segment and expand at a CAGR of 19.1 % over the forecast period and is likely to attain USD 476.3 million by the end of 2023. Hence, the increase in adoption of BYOD devices is highly expected to support the growth of the mobile operator segment.
The Global CSP Network Analytics Market is Getting Proactive by Improving Efficiency globally
The regional evaluation and progress report in the global CSP Network Analytics Market has gathered from the regions of Asia Pacific, North America, Europe, the Middle East & Africa (MEA) and Latin America. Among them, the Asia Pacific region is leading in the market share with the prevailing factors such as accruing internet penetration, rising disposable incomes, minimum data tariff, and decrease in the cost of smart devices. These factors are helping the Asia Pacific region to emerge as the fastest growing CSP network analytics market. Even the presence of countries such as China, India, and others have endeavored to boost their network infrastructure, which resulted in significant growth of the market in the Asia Pacific region. With that, the presence of key market players namely Nokia, Cisco, and Ericson have been investing profoundly in installation and training services which are expected to open new avenues of business in the Asia Pacific region.
Currently, North America is also settling to be one of the leaders of the global CSP network analytics market, which is accounted for 37.08% share of the global market in 2017 and valued for USD 210.4 Million. The factors such as the occurrence of significant players in the region, along with infiltration of smartphones and massive investments by CSP providers towards the expansion of network infrastructure are heavily attributing for the leading market share of North America. Whereas, Europe is now considered to be the second largest market for CSP network analytics as it was valued at USD 160.3 million and accounted for 28.2% share of the market in 2017.
Market Key Players
The prominent players in the global CSP network analytics market include Accenture Plc (Ireland)., Allot Communication (Israel), Cisco Systems Inc. (US), IBM Corporation (US), Sandvine Corporation (Canada), Nokia Corporation (Finland), Juniper Networks Inc. (US),SAS Institute Inc. (US),Tibco Software (US), and Broadcom Inc. (US).
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Industry News
April 15, 2019: Cyient, an engineering and geospatial solutions company, announced that it rolled out a portfolio of services and solutions to support communication service providers (CSP) accelerate the rollout of 5G network globally. Cyient mentioned that with its 5G accelerator services, it aims to simplify the network and operational complexity for CSPs, thereby setting the framework for implementing high levels of network automation and analytics.
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