2014-04-04 00:43:01 - Big Data and Telecom Analytics Market: Business Case, Market Analysis & Forecasts 2014 - 2019 - a new market research report on companiesandmarkets.com
The global big data driven telecom analytics market is forecast to reach a value of around $5.4 billion by the end of 2019, growing at a CAGR of nearly 50% between 2014 and 2019.Big Data refers to a massive volume of both structured and unstructured data that is so large that it is difficult to process using traditional database and software techniques. While the presence of such datasets is not something new, the past few years have witnessed immense commercial investments in solutions that address the processing and analysis of Big Data.Big Data opens a vast array of applications and opportunities in multiple vertical sectors including, but not limited to, retail and hospitality, media, utilities, financial services, healthcare and pharmaceutical,
telecommunications, government, homeland security, and the emerging industrial Internet vertical.With access to vast amounts of data sets, telecommunications companies are emerging as major proponents of the Big Data movement. Big Data technologies, and in particular their analytics abilities, offer a multitude of benefits to telecom companies including improved subscriber experience, building and maintaining smarter networks, reducing churn, and generation of new revenue streams.IBM leads the Big Data market in terms of current investments (from a vendor perspective), with estimated revenue for $1.3 Billion in 2012 for its Big Data services, software and hardware sale. Despite challenges such as the lack of clear big data strategies, security concerns and the need for workforce re-skilling, the growth potential of Big Data is unprecedented.
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