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The latest report by IMARC, titled “ TelecomAnalyticsMarket:GlobalIndustryTrends,Share,Size,Growth,OpportunityandForecast202 3-2028
” finds that the global telecom analytics market reached a value of US$ 5.1 Billion in 2022.
Telecom analytics refers to a business intelligence technology specially applied and packaged to cater to the multifaceted requirements of telecommunication organizations. It is used to minimize operational costs and maximize profits by increasing sales, improving risk management, and reducing fraud.
It aids in communicating with customers, designing competitive packages, and configuring the network to deliver reliable services. In recent years, several telecom companies are opting for telecom analytics as it enables communication service providers (CSPs) to examine data and develop valuable insights.
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One of the primary factors driving the market is the increasing amount of telecom data present globally. Additionally, as telecom analytics are used to prevent revenue loss, enhance the quality of customer services, reduce churn, and minimize marketing and sales cost, their demand has escalated across the globe. Other than this, the rising adoption of new technologies, including Artificial Intelligence (AI) and Machine Learning (ML), is creating a positive market outlook. Besides this, the need to streamline revenue management is constantly surging, thereby propelling the market growth. Apart from this, telecom analytics assist business owners in reducing risks and making appropriate business decisions.
They also provide qualitative and quantitative metrics offering objective Key Performance Indicators (KPIs) or Key Quality Performance (KQIs) measurements to various applications for business, customer, or network use cases. In line with this, key players are using technologies, such as the Internet of Things (IoT), data science, and big data, that offers customer understanding, revenue maximization, and cost-efficiency, thereby propelling the market growth. Other growth-inducing factors include developments in information technology (IT) infrastructure and increasing network attacks and online data security threats. Looking forward, IMARC Group expects the market value to reach US$ 11.7 Billion by 2028, expanding at a CAGR of 15% during the forecast period (2023-2028).
Looking forward, the market value is projected to reach a strong growth during the forecast period (2023-2028).
MarketSummary:
BreakupbyComponent:
• Solution
• Services
BreakupbyDeploymentMode:
• Cloud-based
• On-premises
BreakupbyOrganizationSize:
• Large Enterprises
• Small and Medium-sized Enterprises
BreakupbyApplication:
• Customer Management
• Network Management
• Sales and Marketing Management
• Risk and Compliance Management
• Others
BreakupbyRegion:
• 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
CompetitiveLandscapewithKeyPlayers:
• 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.
ViewFullReportwithTOC&ListofFigure:https://www.imarcgroup.com/telecom-analytics-market
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