The Telecom Analytics Market is expected to grow from USD 3.1 billion in 2018 to USD 6.0 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 14.3% during the forecast period. Factors that drive the market growth include growing need to reduce churn and retain customers, increasing demand for streamlined and effective revenue management, and rise in network attacks and online data security threats.
The network management segment to grow at the highest CAGR during the forecast period
Network management incorporates network utilization analytics, capacity planning and management, traffic volume forecasting, call route optimization, and performance management. Telecom service providers have adopted data and analytics solutions to support better capacity planning and traffic management, achieve service assurance level, and deliver enhanced customer experience, leading to higher subscriber retention and increased revenue.
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The services segment to grow at a higher CAGR during the forecast period
Based on components, the telecom analytics market is segmented into software and services. The services segment is expected to grow at a higher CAGR during the forecast period. Professional services and managed services help enterprises in building successful client relationships by continuously supporting them through the business tenure. Furthermore, these services benefit enterprises by maximizing resource usage, improving project execution, and streamlining business operations. The need for services, such as consulting services, would also grow, as the adoption of telecom analytics software increases.
The telecom analytics market comprises major solution providers, such as SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Adobe (US), Cisco (US), Teradata (US), Micro Focus (UK), TIBCO (US), MicroStrategy (US), Tableau (US), Panorama Software (Canada), Qlik (US), OpenText (Canada), Alteryx (US), and Sisense (US).
The study includes in-depth competitive analysis of these key players in the telecom analytics market with their company profiles, recent developments, and key market strategies. The players in this market have embraced different strategies to expand their global presence and increase their market shares. New product launches and upgradations; and partnerships, agreements, and collaborations are the most dominating strategies adopted by the major players from 2016 to 2018, which helped them innovate their offerings and broaden their customer base.
IBM is among the leaders in the telecom analytics market. The company has a balanced growth strategy in the market. For instance, in January 2019, IBM collaborated with Vodafone to enable businesses to integrate their cloud computing systems with 5G network and support new technologies, such as machine learning. Under this collaboration, Vodafone would pay USD 550 million to IBM and provide IBM’s AI and automation technologies to networked businesses. Moreover, in October 2018, IBM acquired Red Hat for enabling joint customers to leverage the benefits of both the companies’ solutions under the same umbrella to gear their businesses. Moreover, a strong cloud footprint also enables the company to deliver its analytics solutions efficiently through cloud. Headquartered in New York, US, the company has additional offices in North America, Middle East and Africa (MEA), Europe, and APAC.
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Similarly, Oracle provides telecom analytics solutions that enable users to enhance their customer base and manage their telecom networks. In November 2018, Oracle acquired Talari Networks, a provider of the Software-Defined Wide Area Network (SD-WAN) technology. This acquisition is expected to strengthen Oracle’s communication product portfolio. Moreover, in October 2018, Oracle introduced CX Unity, which brings together online, offline, and third-party data sources to create a unified customer view for enterprise-grade requirements and applies machine learning to optimize existing business processes.
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