The lack of awareness of telecom analytics among telecom operators is expected to restrain the market growth. Moreover, the significance of Private Branch Exchange (PBX) in internal operations, vulnerability of mobile devices, and use of customer and network data analytics to devise the targeted upselling strategy for effective subscriber engagement are expected to create opportunities.
The factors such as the growing need for churn prevention, increasing demand for effective revenue management, and rising attacks and suspicious activities are expected to fuel the market growth.
Telecom analytics software are currently being deployed to cater to complex Business Intelligence (BI) requirements of the telecom industry vertical. These requirements include churn reduction; fraud detection; risk management; cross-sell and upsell product and services plans; customer segmentation and analysis; revenue management; and security and compliance.
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The key factors driving the telecom analytics market include the growing need for churn prevention, increasing demand for streamlined and effective revenue management, and rising online attacks and suspicious activities.
Telecom service providers have adopted data and analytics solutions to support better capacity planning and traffic management, achieve service assurance level, and deliver enhanced customer experience, leading to higher subscriber retention and increased revenue.
Telecom Analytics Market comprises major solution providers, such as SAP (Germany), Oracle (US), IBM (US), SAS Institute (US), Adobe (US), Cisco (US), Teradata (US), Micro Focus (UK), TIBCO (US), MicroStrategy (US), Tableau (US), Panorama Software (Canada), Qlik (US), OpenText (Canada), Alteryx (US), and Sisense (US).