Customer Management Revenue from Telecom Analytics Market to Register 13.4% CAGR in Next 10 Years
The Telecom Analytics Market revenues were estimated at US$ 4.8 Bn in 2021 and are anticipated to grow at a CAGR of 14% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 20.5 Bn.
Telecom analytics software is being used to meet the telecom industry’s demanding Business Intelligence requirements. Churn reduction, risk management, fraud detection, cross-sell and promoting product and service plans, revenue management, customer segmentation, and analysis, and security and compliance are among the needs. As a result of the advantages of telecom analytics, the industry is expected to grow significantly during the projected period.
The adoption of analytics products and services by telecom providers has been enormously successful. One of the primary reasons predicted to fuel the market’s development prospects during the projected period is the increased implementation of telecom analytics for lowering churn and enhancing customer loyalty. As per Quantzig, telecom businesses may cut customer turnover by 50% while increasing recurring customers by 15%. Therefore, telecom service providers employ analytics tools to improve customer service, minimize revenue losses, and cut sales and marketing expenses.
The demand to optimize corporate activities that influence revenue is also driving the expansion of the telecom analytics industry. Telecom firms’ revenue is primarily determined by the number of customers, the sale of value-added solutions, billing rates, and other factors. Telecom analytics systems may offer both qualitative and quantitative metrics, as well as subjective Key Performance Indicators (KPIs) measures to a variety of applications for business, network, or consumer use cases. This may assist in monitoring crucial subscriber decisions, which affect revenues, by calculating propensity scores from pertinent information such as subscriber experiences (xDRs), region, associates (TAP), network (probes), and activities (logs). Owing to these features, the market is likely to develop throughout the forecast period.
The industry is segmented and characterized by intense rivalry among key operational firms. Leading companies are concentrating their efforts on increasing their market presence. Industry rivalry is expected to grow further as more businesses focus on developing innovative, cost-effective telecom analytics products and services.
Some of the key development in this telecom analytics market include:
· In January 2021, SAP agreed to acquire Signavio, a provider of enterprise business process analytics and process management. The acquisition will increase SAP’s ability to help businesses swiftly analyze, enhance, transform, and control their business operations at scale. Subject to regulatory authorization, the acquisition was scheduled to conclude in the first half of 2021.
· In September 2021, BT Group, BT Group, the UK’s top mobile and internet Services Company, used Oracle Communications Cloud Native Converged Policy Management to manage network resources and speed up the launch of new 5G services. This technology allowed BT Group to test and deploy 5G services such as live video broadcasting and zero-rated 5G downloadable media content over its EE mobile network.
· In Oct 2021, IBM invested in Volta Networks, a developer of networking software for the cloud, to complement its portfolio with software developers.
More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Telecom Analytics Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in the Telecom Analytics Market in terms of Components (Software, Services), Application (Customer Management, Sales and Marketing Management, Risk and Compliance Management, Network Management, Workforce Management, Others, Deployment Mode (On-premises, Cloud), Organization Size (Large enterprises, Small and Medium-sized Enterprises (SMEs)) and across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
About Future Market Insights (FMI)
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