Market Trends of Network Analytics Industry
Communication Service Providers Segment is Expected to Witness a Significant Growth
- In terms of how quickly network analytics are being used, the telecom industry is ahead of the rest of the market.Growth in the mobile industry has been dramatic and may continue to rise. The telecom operators that want to be innovative and maximize their revenue potential must have the right solution at the right place and time to control the volume, variety, and velocity of data coming into their organization and leverage actionable insights from that data, especially for enhancing internal operations and consumer experiences, thereby creating the overall demand for network analytics market.
- When the 5G network comes out and more people start using smartphones, a huge wave of data traffic is likely to happen.The signs of 5G that demand more speed, greater efficiency, and less latency are extremely crucial and essential to support connected things in the future, facilitating the market's overall growth rate.
- Telecom companies use terabytes of data that are made and stored in silos and are spread out across the business ecosystem.But telecom companies need an advanced analytics-driven data solution to make processing only relevant data easier and faster. This could help them get accurate and timely insights.
- For telcos, next-generation data analytics are already providing measurable advantages. Primary operators are utilizing the geographic capabilities of contemporary analytics to locate the best sites for 5G small cells, decide which field technician approach will best meet capacity expansion at each cell site, and optimize network coverage across shifting maps. In the future, it is expected that these operators may utilize next-generation analytics to automate network deployments, provide end-to-end network visibility, and enable network self-corrections, augmenting the market's growth possibilities extensively.
Cisco Systems says that the amount of mobile data traffic in the world in 2018 was about 19.01 exabytes per month. By 2022, mobile data traffic was expected to reach approximately 77.5 exabytes per month globally at a compound annual growth rate of 46%, indicating a faster growth rate throughout the period. This rise in the overall growth rate of mobile data traffic will thus significantly create ample market opportunities during the forecast period.
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North America is Expected to Lead the Market
- Because the leading players in North America started using network analytics early on, this region is expected to have the largest market share and grow at a moderate rate. North America, especially the United States, is noticing a rise in the number of cloud-based analytics start-ups focused on network analytics. This trend is expected to help maintain the region's dominance in the coming years.
- Because so many businesses and organizations in the United States use network analytics tools, the country has become the biggest market for this technology. Moreover, the rapid expansion of the network analytics market in the United States can be attributed to the rapid infrastructure development in the country as well as the high growth of the Internet of Things (IoT), artificial intelligence (AI), machine learning (ML), and cloud computing.
- The increased availability of technology and infrastructure, as well as increased cyber-malware attacks on the networks in the region and higher technology adoption rates, are expected to contribute to the growth of the market in the region. The region also has the world's leading telecom companies, like AT&T and Verizon, which employ network analytics extensively.
- North America is also the most technologically advanced place in the world because businesses there quickly adopt new technologies. The United States and Canada are also very important to the development of technology in this area.For example, a lot of US businesses are putting a lot of money into network analytics to learn from network traffic and improve customer service and network efficiency.
- In October 2022, Oracle released the Oracle Network Analytics Suite. The new cloud-native portfolio of analytics solutions adds various network function data with machine learning and artificial intelligence, mainly to assist the operators in making more informed, automated decisions around the overall stability and performance of their entire 5G network core. With the offering, the operators can thus quickly identify anomalies that can cause catastrophic network function failures, impacting customer service.
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