The market will witness a CAGR of above 15% during the forecast period 2019–2025 exceeding $1.5 billion revenue
Bangalore, India, July 22, 2019: With its recently published study “Global Communication Service Provider (CSP) Network Analytics Market – Drivers, Restraints, Opportunities, Trends, and Forecast up to 2025”, Infoholic Research forecasts that the global market for CSP network analytics is expected to grow owing to the increasing need for intelligent monitoring and enhanced customer satisfaction for telecom companies. Network analytics helps enterprises to understand network usage by customers and their respective preferences to consume data.
Telecom operators in North America and Europe have widely adopted CSP network analytics over the last few years. The increasing competition between operators is compelling telecom network equipment providers to develop cutting-edge consumer analytics. However, Asia Pacific and Middle East Africa are not far behind, indicative of the high growth rates in terms of CSP network analytics adoption. Across the globe, the increasing pace of adoption is expected to continue, thus helping the market to grow at a CAGR of 15.0% to exceed $1.5 billion revenue.
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North America is dominant in adopting network analytics software, followed by Europe and Asia Pacific. The heavy investment in 5G deployments, leading to increased data consumption will act as a propeller for the growth of the North American market. This is compelling telecom operators to create the first movers’ advantage in the 5G scenario and capitalize on huge potential that this market holds. However, Asia Pacific is poised to grow at the highest CAGR in the next 6 years, owing to increased smartphone adoption levels and heavy data consumption at cheaper rates.
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With stiff competition in this market, telecom operators look for customer insights with an aim to foray into newer revenue generation streams, offering customized solution to its subscribers. Furthermore, to retain customers, telecom operators are also investing in customer management and engagement to ensure easy access to networks and less call drops and elevated data speed.
“Telecom operators are increasingly focusing on adopting network analytics solutions to offer best-in-class services to subscribers. In this competitive age, several technologies such as AI, ML, and big data are being leveraged to attain more customer insights, thus improving the overall service delivery.” pointed out Swarup Bhowal, Research Analyst, Infoholic Research
Segmentation of the Report Include:
- Customer Management and Engagement
- Service Optimization
- Customer Insights
- Decision Management
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East Africa
- South Africa
- Rest of Middle East Africa
- Latin America
- Rest of Latin America
- North America
- Industry outlook: Market trends, drivers, restraints, and opportunities
Ms. Sunanda Ganguli
Infoholic Research LLP