According to the report published by Allied Market Research, the global telecom analytics market was pegged at $3.52 billion in 2018 and is anticipated to hit $9.89 billion by 2026, registering a CAGR of 13.9% from 2019 to 2026.
An increase in efforts for simplifying revenue management, the surge in demand for fraud detection due to network infringement and a rise in the need for churn reduction propel the growth of the global telecom analytics market.
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On the other hand, a lack of awareness regarding telecom analytics among telecom operators restrains the growth to some extent. However, the incorporation of new technologies such as machine learning and AI in telecom analytics is anticipated to usher in multiple opportunities in the industry.
Based on component, the report is bifurcated into two segments namely solution and service. The solution segment accounted for more than two-thirds of the 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.
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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.
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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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