The big data-driven telecom analytics market is expected to grow at a CAGR of nearly 49% between 2015 and 2020, accounting for $7.6 billion in annual revenue by the end of the period, according to a report from Research and Markets.
The telecom APIs market is expected to account for $167.5 billion in global revenues worldwide by 2020, growing at a CAGR of 26% between 2015 and 2020.
The overall "Data as a Service" or DaaS market will reach $271.9 billion globally by 2020.
Telecommunications service providers acquire and maintain substantial structured and unstructured (big) data. Leading carriers have centralized Subscriber Data Management (SDM) systems, which consolidate and organize data from various sources such as HLR, HSS, and other data repositories.
In addition, carriers have access to a plethora of data from various "Big Data" sources such as OSS/BSS, system monitoring and performance management systems including self organizing networks (SON).
Big data and related analytics solutions opens a vast array of applications and opportunities for telecom carriers to offer services in multiple industry verticals, the report said.
Network operators may sell data in a DaaS model to various market sectors including retail and hospitality, media, utilities, financial services, healthcare and pharmaceutical, telecommunications, government, homeland security, and the emerging industrial Internet vertical.
DaaS is defined as any service offered wherein users can access vendor provided databases or host their own databases on vendor managed systems.