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Telecommunication industries are persistently confronted with many difficulties concerning revenue generation, social network analytics, churn prediction, and customer engagement. The telecom analytics solution offers business intelligence (BI) to the companies to satisfy their complex requirements. Rising attacks and suspicious activities, growing need for effective revenue management and churn prevention are the key factors to fuel the demand for telecom analytics. The solution provides valuable insights for the business operations, revenue recognition, and customer management to attain competitive advantages. The telecom analytics solution comprises of predictive and prescriptive modelling techniques that enables telecommunication clients to attain a high return on investment (RoI) and reduces total cost of ownership (TCO). Thus, the growing complex needs of the telecommunication industry are likely to drive the telecom analytics market growth.
Advanced technologies such as artificial intelligence, machine learning enables real-time data analytics. AI-driven telecom analytics helps to predict the outcomes by delivering valuable data insights. Thus, the AI-driven telecom analytical solutions are gaining traction across the industry. The capability of AI analytical platforms to reduce risks and to automate the entire analysis process is likely to promote the telecom analytics market growth. Significant adoption of content security policy (CSP) across the telecommunication industry is fuelling the market growth. Growing data breaches and cyberattacks in networks is likely to drive the demand for predictive maintenance. This factor would boost the telecom analytics market growth.
Key Market Driver -
• Increasing demand for streamlining the telecom operations to drive the market growth • Growing popularity of AI-driven analytics to enhance the adoption • Increasing data breaches and cyberattacks in networks to accelerate the market growth
Key Market Restraint -
• Lack of awareness to hinder the growth of the market
The key players are adopting various business strategies such as partnerships, collaborations, mergers, and acquistions for enhancing their market presence. These strategies further help key companies to expand their business network geographically. Several key companies are focusing on the development of advanced and cost-effective solutions and services. A highly competitive business landscape encourages market players to invest into the research and development activities to meet the needs of telecom operators.
Key companies summarised includes Adobe Systems, Inc., Techvantage, OmniSci, Inc., Anodot Ltd, Birst, Inc., PricewaterhouseCoopers Private Limited, Hewlett Packard Enterprise Development LP, ALTERYX, INC., Cisco Systems, Inc., Dell Inc., Sisense Inc, Huawei Technologies Co., Ltd., IBM Corporation, Microsoft Coprporation, MicroStrategy Incorporated, Open Text Corporation, Radisys Corporation, SAS Institute Inc., and among others.
North America captures a maximum of market share owing to increasing investments by companies in the advanced analytical solutions. The market growth is mainly attributed to the growing demand for data analytics from the telecommunication sector. Consistently growing internet data traffic across the United States is witnessing a significant demand for telecom services across North America. Growing investments by the broadband telecom service providers is endorsing the developments of the market. The ‘US State of Telecom Industry Report-2020’ has quoted that, broadband service providers of the United States has invested more than USD 1.7 trillion in network capital from year 1996 to 2018. Apart from this, telecom analytics market growth across North America is influenced by the technological evolution of the telecom industry. The growing investments by local as well as telecom operators abroad are expanding telecommunication network across Latin America. Also, significant adoption of smartphones and growing internet penetration are likely to escalate the demand for telecom analytics in coming years.
The European telecommunication industry is transforming as the European Union is instisting the compnaies to follow the unified telecoms legislation. The presence of prominent key companies are uplifting market growth across the region. Significant adoption of cloud and data analytics are anticipated to fuel the telecom analytics market growth during forecast period. Also, the adoption of analytical techniques by the leading European telcos to manage procurement activities in massive purchasing process is expected to drive the market growth across Europe.
Asia-pacific is likely to emerge as the most opportunistic region for the telecom analytics market. The increasing shift of developing countries towards the digitization is encouraging telecom service providers to advance their business models. This factor is expected to stimulate the market growth across the Asia-pacific. Key players are expanding their business network across the Asian countries, which would bolster the market growth in the coming years. Further, growing investments in advanced technologies including, artificial intelligence, big data analytics, machine learning, or the internet of things are likely to stimulate the telecom analytics market growth.
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