Market Research Future (MRFR) has revealed in its latest study that the global CSP network analytics market will thrive saliently at a robust CAGR of 16.8% during the forecast period 2017 to 2023. The market value is prognosticated to reach USD 1406.6 Mn in 2023 up from USD 567.4 Mn in 2017.
The intensified penetration of internet has surged the demand for mobile applications, which has created new avenues for market proliferation. It has been estimated that nearly 45% of the global population had access to the internet in 2016. CSP network analytics facilitates the simplification of massive data and complex network infrastructure which is likely to generate demand in the market over the assessment period.
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An inclination towards automation and virtualization has been witnessed in recent times which has a positive influence on the revenue creation from CSP network analytics market. Mobile operators are emphasizing on creating automated solutions for enhanced operational efficiency and customer satisfaction. For instance, several mobile operators have launched their chatbots or digital assistants for commercial applications. Furthermore, the technological advancements integrated into telecom networks such as LTE, WiMax, and, HSPA has boosted the web traffic and created the need for adoption of CSP network analytics.
The rising demand for Quality of Experience (QoE) coupled with intensified competition in the telecom sector has accelerated the embracement of CSP network analytics by network operators for gaining a competitive edge. The study indicates that the need for the adoption of next-gen technology into current network infrastructure will thrive across the next couple of years, creating substantial growth opportunities for CSP network analytics market.
The surge in demand and supply of mobile phones in the market resonates opportunities for CSP Network Analytics Market Share expansion. The strategies devised and implemented by the key players for gaining traction and strengthening their footholds in the market favor the market proliferation, and it is likely to continue over the next few years. However, data privacy and security concern is one of the crucial challenges that might hold the market growth over the forecast period.
MRFR’s report offers a detailed segmental analysis of the market based on component, deployment, organization size, and, end-user. By component, the market has been bifurcated into software and services. The services segment is further bifurcated into professional and managed services. Among these, the software segment is likely to retain its top position, and its market value is projected to reach USD 830.8 Mn by the end of 2023. The services segment is poised to register a steeper rise in market growth at a striking CAGR of 19.1%. By deployment, the market is bifurcated into on-cloud and on premise. The on-premise segment currently holds the most substantial fraction of the market. The trend is likely to continue across the review period. However, the on-cloud segment is foreseen to be the fastest growing segment thriving at 19.9% CAGR. By organization size, the market is bifurcated into large enterprise, and, small and medium enterprise. Among these, the large enterprise segment is expected to be the most lucrative market for CSP network analytics registering growth at 15.8% CAGR. The small and medium enterprise segment will exhibit the fastest development. The segment is likely to reach a market value of USD 455.7 Mn in 2023 up from USD 164.4 Mn in 2017. By end-user, the market has been bifurcated into mobile operator and fixed operator. The growth in the mobile operator segment is attributable to the increase in adoption of BYOD culture. The market value of fixed operator segment was valued at USD 397.4 Mn in 2017. It is likely to remain highly lucrative over the next few years.
By region, the global CSP network analytics market has been segmented into North America, Europe, Asia Pacific, and, the Rest of the World. North America accounted for 37.08% of the market share in the year 2017 and was valued at USD 210.4 Mn. The trend is likely to continue during the foreseeable future. Europe currently holds the second spot in the global market. It controlled 28.2% of the CSP network analytics market in 2017. The market value of the segment has been estimated to reach USD 407.6 Mn by 2023 growing at 17.2% CAGR. Asia Pacific market is projected to value at USD 390.9 million by the end of the review period, registering growth at 19.8% CAGR.
Some of the key players profiled by MRFR in its latest report include Accenture Plc (Ireland)., Nokia Corporation (Finland), Allot Communication (Israel), Juniper Networks Inc. (US), Cisco Systems Inc. (US), SAS Institute Inc. (US), IBM Corporation (US), Tibco Software (US), Sandvine Corporation (Canada), and Broadcom Inc. (US) among others.
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