CSP Network Analytics Market Revenue Growth Predicted by 2023
Posted by Akshay Solanki on January 7th, 2021
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 foreseen to reach USD 1406.6 Mn in 2023 up from USD 567.4 Mn in 2017.
The increased penetration of internet has surged the demand for mobile applications, which has created new avenues of growth for the market. 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. An inclination towards automation and virtualization has been witnessed in recent times, which has a positive influence on the revenue creation for market participants. 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 for and supply of mobile phones resonates opportunities for companies operating in CSP network analytics market. 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.
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).
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About the AuthorAkshay Solanki
Joined: December 29th, 2020
Articles Posted: 475
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