| Source: Straits Research
Pune, INDIA
New York, United States, Nov. 23, 2022 (GLOBE NEWSWIRE) — Churn prediction, social network analytics, and customer engagement are just a few of the ongoing issues that the telecommunications industry must deal with. To meet their complex needs, businesses can obtain business intelligence (BI) from the telecom analytics solution. The rise in attacks and suspicious activity, the need for adequate revenue management, and the need for churn prevention all contribute to the demand for telecom analytics. The solution provides priceless insights for optimizing customer management, revenue recognition, and business operations. Predictive and prescriptive modeling methods provided by the telecom analytics solution help telecommunication clients realize a high return on investment (Roi) and lower the total cost of ownership. Modern technologies like artificial intelligence and machine learning enable real-time data analytics. Telecom analytics powered by big data offers insightful information that supports outcome forecasting. As a result, Al-driven telecom analytical solutions are becoming more widely adopted. The growth of the telecom analytics market will likely be supported by the ability of Al analytical platforms to reduce risks and fully automate the analysis process.
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Increased Demand for Reduction of Churn
In the telecom sector, churn refers to the percentage of subscribers who switch service providers within a set time frame. Businesses are putting more effort into lowering churn because if the percentage keeps rising, it will be detrimental to their reputation. This hurts the company’s future sales and business. On average, churn can be decreased by 15% by using telecom analytics. Telecom service providers request the customer churn analytics tool to stop revenue losses, enhance customer service, and lower marketing and sales expenses. By implementing telecom analytics solutions, carriers can use subscriber usage data to understand subscriber behavior patterns and enhance customer experiences. It enables cross-selling and up-selling for telecom businesses. With the help of vendors in the market, carriers can now identify at-risk subscribers or the reasons behind current and upcoming churn by using telecom analytics solutions infused with machine learning to understand sentiments.
The Need to Streamline Revenue Management Is Growing
The need to streamline business processes that impact revenue is the main factor driving the growth of the telecom analytics market. Telecom companies generate revenue greatly influenced by various factors, including the number of subscribers, value-added service sales, billing fees, etc. Telecom analytics can pinpoint the areas that need to be improved to increase the revenue of telecom companies. Telecom analytics software enables effective risk management and business decision-making. Additionally, it supports revenue growth by enabling businesses to stand out from the competition and deliver subscriber-focused scores. For various applications for business, network, or customer use cases, telecom analytics solutions can offer qualitative and quantitative metrics that provide objective Key Performance Indicators or Key Quality Indicators measurements. By using pertinent data, such as subscriber experience (xDRs), location, partners (TAP), network (probes), and activities, telecom analytics can assist in measuring the critical subscriber decisions that have an impact on revenues.
Report Scope
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Regional Analysis
North America is the most significant contributor to the global telecom analytics market and is anticipated to grow at a CAGR of 13.6 % during the forecast period. An outcome of progress in technology and developed industrial infrastructure. The primary cause of the market growth is the telecommunications sector’s rising demand for data analytics. The accelerating growth of digital marketing, including e-commerce and social media marketing, is another factor anticipated to drive market growth in the ensuing years. The presence of some of the most well-known businesses in the industry, like IBM Corporation and Oracle Corporation, also impacts regional growth. The widespread distribution of the telecom sector generates enormous amounts of data, which supports the expansion of the local market. Due to the steadily rising internet data traffic in the US, North American telecom services are in high demand. Telecom companies that offer broadband services are increasing their investments to support market expansion.
Europe is expected to grow at a CAGR of 14.7% during the forecast period. Europe is a significant global market for telecom analytics because of rising investments in delivering better service quality for rising consumption. The market growth in this area is accelerated further by adopting several technologies, including cloud services and the Internet of Things (IoT). The European Union is pressuring the companies to follow the unified telecoms legislation, changing the European telecom industry. The presence of well-known key companies is fueling the regional market’s growth. During the forecast period, the market’s growth is anticipated to be fueled by the widespread adoption of cloud and data analytics. The leading European telcos’ adoption of analytical techniques to manage procurement activities in large-scale purchasing processes is also anticipated to be a critical factor in European market growth.
Key Highlights
Competitive Players in the Global telecom analytics market
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Global Telecom Analytics Market: Segmentation
By Deployment
By Applications
By End Users
By Regions
TABLE OF CONTENT
Table of Content and Figure @ https://straitsresearch.com/report/telecom-analytics-market/toc
Market News
News Media
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Telecom Analytics Market Size is projected to reach USD 13.76 Billion by 2031, growing at a CAGR of 14.2%: Straits Research – GlobeNewswire
