The Telecom Analytics Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Telecom Analytics Global Market Report 2024, The telecom analytics market size has grown exponentially in recent years. It will grow from $6.43 billion in 2023 to $8.03 billion in 2024 at a compound annual growth rate (CAGR) of 24.9%. The growth in the historic period can be attributed to rapid growth in data traffic, increasing complexity of networks, demand for customer insights, risk management and fraud detection.
The telecom analytics market size is expected to see exponential growth in the next few years. It will grow to $18.1 billion in 2028 at a compound annual growth rate (CAGR) of 22.5%. The growth in the forecast period can be attributed to enhanced customer experience, cybersecurity concerns, competition and market dynamics. Major trends in the forecast period include technological advancements, AI and machine learning, cybersecurity and fraud prevention, IoT analytics, regulatory compliance.
Rising attacks and suspicious activities are expected to propel the growth of the telecom analytics market going forward. Telecommunications fraud concerns operators with financial and reputational losses. Telecom analytics helps prevent cyberattacks and fraudulent activities through continuous monitoring and vigilance. The increasing number of cyberattacks on telecom companies is expected to drive demand for several telecom analytics services. For instance, in 2022, according to a report by Lumen, a US-based telecommunications company, the number of distributed denials of service (DDoS) attacks for telecommunications companies increased by 32% year on year. Also, the top 500 DDoS attacks in the telecom industry accounted for 76%. Therefore, the growing attacks and suspicious activities will drive the telecom analytics market growth.
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The telecom analytics market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: On-Premise, Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Application: Customer Management, Sales And Marketing Management, Network Management, Risk And Compliance Management, Workforce Management
Major companies operating in the telecom analytics market are focusing on developing innovative technological solutions such as cloud-based telecommunication services. Cloud-based telecommunication services provide the foundation for scalable, cost-effective, and innovative telecom analytics solutions. For instance, in February 2023, Snowflake, an US-based data cloud company, introduced the Telecom Data Cloud to assist telecommunications service providers in monetizing data and optimizing operational efficiency. the Telecom Data Cloud enables providers to break down data silos, access data securely in near real-time, leverage machine learning models, and drive better decision-making. The platform supports telecom companies in modernizing networks, enhancing operational efficiency, implementing advanced AI and ML capabilities, monetizing data and applications, and benefiting from a rich partner ecosystem for industry-specific solutions.
The telecom analytics market report table of contents includes:
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Top Major Players:
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