IMARC Group, a leading market research company, has recently released a report titled “Telecom Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028″. The study provides a detailed analysis of the industry, including the global telecom analytics market growth, size, trends, and share forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
What Are The Growth Prospects Of The Telecom Analytics Industry?
According to the report, The global telecom analytics market size reached US$ 5.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.7 Billion by 2028, exhibiting a growth rate (CAGR) of 15% during 2023-2028.
What is Telecom Analytics?
Telecom analytics is a process wherein communication service providers examine data to produce actionable insights, which help in improving customer experience, loyalty, and increasing efficiencies. It involves data mining, text analytics, forecasting and optimization, and descriptive and predictive modeling. It assists in decreasing operational costs and maximizing profits by increasing sales, reducing fraud, and facilitating risk management. Moreover, it assists in communicating with subscribers about their usage, spending, and purchase, and recommending profitable offers to subscribers during the ordering process.
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What are the growth prospects and trends in the telecom analytics industry?
At present, telecom companies are relying on telecom analytics to reduce churn, prevent revenue loss, improve the quality of customer service, and reduce marketing and sales cost. This, in confluence with the increasing demand for streamlining operations, represents one of the key factors positively influencing the market. In line with this, increasing cases of data breaches and cyberattacks in networks are catalyzing the demand for telecom analytics across the globe. Moreover, key market players are increasingly adopting advanced technologies, such as artificial intelligence (AI) and machine learning (ML) platforms, to reduce risk and automate analysis processes. They are also incorporating the internet of things (IoT) and big data in analytics tools to support customer understanding and cost efficiency.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Organization Size:
- Large Enterprises
- Small and Medium-sized Enterprises
Breakup by Application:
- Customer Management
- Network Management
- Sales and Marketing Management
- Risk and Compliance Management
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- Accenture plc
- Adobe Inc.
- Cisco Systems Inc.
- Dell Technologies Inc.
- International Business Machines Corporation
- Oracle Corporation
- SAP SE
- SAS Institute
- Sisense Inc.
- Tableau Software (Salesforce.com Inc.)
- Teradata Corporation
- TIBCO Software Inc.
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