Surge in need for streamlining revenue management, rise in demand for fraud detection due to network attacks, and the need for churn reduction drive the growth of the global telecom analytics market. However, lack of awareness of telecom analytics among telecom operators hampers the market growth.
On the contrary, integration of new technologies such as machine learning and AI in telecom analytics is expected to create lucrative opportunities in the near future.
According to the report, the global telecom analytics industry was pegged at $3.52 billion in 2018 and is expected to reach $9.89 billion by 2026, registering a CAGR of 13.90% from 2019 to 2026.
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Based on component, the report is bifurcated into two segments namely solution and service. The solution segment accounted for more than two-thirds of total market share in 2018, and is expected to lead the trail by the end of 2026. At the same time, the service segment is predicted to manifest the fastest CAGR of 15.40% from 2019 to 2026.
Based on deployment, the market study divides the report into on-premise and cloud segments. The on-premise segment contributed to nearly three-fifths of the total market revenue in 2018, and is estimated to rule the roost till 2026. The cloud segment, on the other hand, is anticipated to portray the fastest CAGR of 15.50% throughout the study period.
Based on geography, the report is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America garnered the major share in 2018, holding nearly two-fifths of the global market. Simultaneously, the region across Asia-Pacific would showcase the fastest CAGR of 16.0% by 2026.
The key market players analyzed in the global telecom analytics market report include, Tableau, Sisense, Oracle, Cisco, SAS Institute, Teradata, SAP SE, Tibco, Adobe, and IBM. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to corroborate their stand in the industry.
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