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CSP Network Analytics Market Worth USD 4.52 Billion At
New York, US, Feb. 28, 2023 (GLOBE NEWSWIRE) -- 5G Proliferation Drives the CSP Network Analytics Market According to a comprehensive research report by Market Research Future (MRFR), CSP Network Analytics Market By Component, Deployment, Organization Size, End-user Forecast till 2030. The global CSP network analytics market is growing continually with the rapid developments in 5G technology.
The technology has become extremely affordable due to the cutthroat competition among smartphone manufacturers and network carriers to deliver competitive products and services. Digital transformation in businesses impacts market growth positively, accelerating their conversational commerce.
CSP Network Analytics Market Competitive Analysis
Players leading the global CSP network analytics market include:
- Nokia Corporation
- Accenture Plc
- Allot Communication
- Cisco Systems Inc.
- Juniper Networks Inc
- SAS Institute Inc
- Tibco Software
- IBM Corporation
- Sandvine Corporation
- Broadcom Limited.
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Besides, the rising proliferation of the Internet of Things (IoT) technology and smart & connected devices drive the growth of the market. According to Market Research Future (MRFR), the global CSP network analytics market valuation is projected to expand by USD 4.52 BN by 2030, growing at a 16.28% CAGR throughout the review period (2020-2030).
Communication Service Providers (CSP) Network Analytics allows telecoms to compete in the 5G era by leveraging the data opportunity. Telecom companies use CSP network analytics to analyze network data and statistics to help identify communication trends and patterns. CSP Network Analytics also supports a wide range of domain-specific applications for network security, risk management, testing & service assurance, mobile roaming, customer experience, and data monetization.
Due to growing data security issues, CSPs are now seeking providers who focus on security and support their transformational data journey. In today's cloud-driven world, organizations have become extremely cautious about their data security. They want to deploy applications in multiple locations to protect their data without leaving any sensitive data unattended and control who will have access to it.
The CSP network analytics market is predominantly driven by the increased demand for quality of experience (QoE) and the growing competition in the telecommunications sectors worldwide. Moreover, the growing adoption of CSP network analytics by network operators to stay ahead in the 5G deployment substantiates the market size. The proliferation of smartphones boosts CSP network analytics market revenues.
CSP Network Analytics Market Report Scope:
|CSP Network Analytics Market Size by 2030||USD 4.52 Billion|
|CSP Network Analytics Market CAGR during 2020-2030||16.28%|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Key Market Opportunities||The increased penetration of the Internet has raised the demand for mobile apps, generating new opportunities for growth in the industry.|
It has been estimated that almost 45% of the world's population had access to the Internet in 2016.
Also, the increasing uptake of next-generation technologies in the current network infrastructure will bring major growth opportunities for CSP network analytics providers. The growing demand among CSPs for solutions that can simplify and strengthen their data collection abilities & insights impacts market growth positively. The latest AI-enabled analytics can solve the challenge of fragmented data scattered across CSP networks.
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Additionally, the growing need for stronger and more cost-effective analytical capabilities among CSPs to analyze 5G network data influences the market shares. The rising uptake of CSP network analytics in telecom companies due to the growing competition among mobile network operators (MNOs) and partners substantiates market growth. These companies are also working on expanding their compatibility with mobile phones of various makes and platforms.
The CSP network analytics market report is segmented into components, deployments, organization size, end-users, and regions. The component segment is sub-segmented into software and services. The deployment segment is sub-segmented into on-cloud and on-premise. The organization size segment is sub-segmented into large enterprises and small & medium enterprises. The end-user segment is sub-segmented into mobile operators and fixed operators. The region segment is sub-segmented into the APAC, Americas, Europe, and rest-of-the-world.
North America dominates the global CSP network analytics market, with the large presence of notable players such as Accenture, Cisco, and IBM. Besides, the early adoption of advanced CSP network analytics by telecom companies in the region to foster their digital transformations drives market growth. The high adoption of IoT technology and smart devices such as smartphones and smart TVs in the region propel market revenues. The North American CSP network analytics market is likely to retain its dominance throughout the review period.
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Europe stands second in the global CSP network analytics market. The market growth is driven by the expansion strategy adopted by several players in the industry. Additionally, the rising adoption of CSP network analytics by telecoms for customer acquisition and to improve customer engagement impacts the regional market growth. The European mobile CSP network analytics market is expected to grow immensely over the forecast period.
The CSP network analytics market is growing rapidly in the Asia-Pacific region. Factors such as the rising CSP network analytics platforms and the disposable income of demographics provide impetus to market growth. Moreover, the increasing demand for high-speed internet connectivity propels the development of the CSP network analytics market. Countries, including China, Japan, and India, are major CSP network analytics markets in this region. The APAC CSP network analytics market is expected to gain momentum growing at the highest CAGR in the coming years.
For instance, on Feb. 21, 2023, Mobileum Inc., a leading global telecom analytics solutions provider, released its latest Active Intelligence Platform (AIP). The new API is a cloud-native big data solution designed to collect, process, and analyze a growing volume, velocity, and complex data streams generated by CSPs.
By supporting its comprehensive portfolio, the new API will enhance Mobileum's Machine Learning (ML) capabilities to help CSPs collaborate with a rapidly evolving tech landscape. This foundation will allow users to cope with controlled visibility over the data lifecycle, allowing them to manage data as a product.
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Several large and small players with an international presence adorned the well-established CSP network analytics market. Matured players incorporate collaboration, acquisition, partnership, product launch, and expansion to gain a competitive advantage. The market demonstrates high growth prospects, which would attract several new entrants, further boosting the market competition.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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