GLOBAL 5G CUSTOMER ANALYTICS MARKET SIZE (2024 - 2030)

In 2023, The 5G Customer Analytics Market is valued at $ 2.56  billion, and is projected to reach a market size of $ 18.26 Billion by 2030. Over the forecast period of 2024-2030, market is projected to grow at a CAGR of 32.4%.

Customer analytics involves using various statistical tools and techniques, such as predictive analytics, data visualization, information management, segmentation, etc., to study customer behavior, preferences, and usage patterns. Customer analytics are used in business to bridge the gap between an organization's assumptions or speculations and its target demographic's actual preferences. Nowadays, organizations can entirely miss the point with poorly thought-out development trajectories if they don't consider the use of customer analytics tools in their strategies. Thus, customer analytics is considered the backbone or the main structure of all organizations and is very crucial for all business-related activities.

5G customer analytics is the utilization of statistical and predictive tools and techniques to analyze data related to customer behavior, preferences, and usage patterns gathered by 5G networks and associated devices. The objective of 5G customer analytics is to obtain insights to make effective business decisions related to enhanced customer experience and optimized network performance, which will help to propel business growth. By leveraging real-time data processing and analytics capabilities offered by 5G networks, organizations can increase their profitability by 8% and reduce their overall expenditure by 10%. Hence, The Global 5G Customer Analytics Market is anticipated to have a fast CAGR during the forecast period.

Global 5G Customer Analytics Market Drivers:

The rising adoption of 5G network services by customers is fuelling the growth of the global 5G customer analytics market.

5G networks feature increased bandwidth, low latency, and higher capacity in comparison to 4G networks. The ways in which people live, work, and play around the world will all be significantly altered as a result of these network enhancements. Thus, this factor helps telecom companies to analyze customer data in real time, which enables them to provide personalized services to each customer accordingly.

The increasing need for effective customer engagement is also contributing to the growth of the global 5G customer analytics market.

The use of customer analytics in 5G network services assists telecom service providers to know about customer behavior, preferences, and usage patterns. This factor enables the service providers to provide customers with personalized services and targeted marketing campaigns, which increases overall customer engagement. Thus, this factor helps in propelling the growth of the global 5G customer analytics market.

Global 5G Customer Analytics Market Challenges:

The global 5G customer analytics market is encountering challenges, primarily in terms of high expenditure and the shortage of skilled professionals in this industry. As 5G network service is still a new and advanced broadband cellular network, its implementation costs and the costs of customer analytics tools are high, which proves to be a challenge for small and medium-sized enterprises. Moreover, due to the newness of the market, there is a shortage of personnel who are skilled in customer analytical tools specializing in the 5G services market.

Global 5G Customer Analytics Market Opportunities:

Customer analytical tools that make use of artificial intelligence (AI) and machine learning (ML) will help telecom service providers make better business decisions. And incorporating cutting-edge technologies like the Internet of Things (IoT) will help in providing real-time data on customer behavior. In the global 5G customer analytics market, these factors present telecom service providers with significant opportunities.

COVID-19 Impact on the Global 5G Customer Analytics Market:

The outbreak of the COVID-19 pandemic significantly impacted the global 5G customer analytics market. The implementation of strict lockdowns and travelling restrictions across several nations caused disruptions in supply chains, which resulted in organizations facing budget constraints and delays in 5G network development and deployment. This factor negatively impacted the demand for 5G network services. However, due to the travelling restrictions and lockdowns in almost every nation, several organizations shifted to remote work and online operations, which increased the need for high-speed internet connection for enhanced work efficiency and productivity. The education industry also witnessed a surge in the demand for faster internet connectivity due to effective online learning accessibility. Moreover, the media and entertainment industry witnessed a surge in the demand for faster internet connectivity due to the increasing adoption of streaming entertainment services. These factors positively impacted the demand for 5G network services. Thus, the global 5G customer analytics market experienced both challenges and opportunities during the difficult time of the COVID-19 pandemic

Global 5G Customer Analytics Market Recent Developments:

• In March 2023, HFCL, an Indian telecommunication company, allied with Microsoft to create converged private 5G solutions that harness new-age technologies of the Internet of Things (IoT), Cloud, Edge Computing, artificial intelligence (AI), and Analytics to transform industry verticals, including manufacturing, retail & warehouse, mining, education, defense, railways, smart city, etc.

• In March 2023, Reliance Jio Infocomm Limited, India's largest telecom network provider for customers and businesses, launched 5G services in more than 27 cities across the country on the auspicious occasion of the Holi festival. Reliance Jio becomes the first telecom operator to offer 5G technology to the majority of cities, paving the way for a new era of digital transformation.

• In February 2023, Capgemini, a multinational information technology services and consulting company, unveiled the opening of a 5G Solutions Center in North America to support organizations in innovation with 5G and Edge technologies. Located in San Francisco at Capgemini’s Applied Innovation Exchange (AIE), the center helps clients and partners put 5G at the heart of their business by providing focused workshops with a setting for innovative use cases for 5G-based solutions.

GLOBAL 5G CUSTOMER ANALYTICS  MARKET REPORT COVERAGE:

Global 5G Customer Analytics Market Segmentation:

Global 5G Customer Analytics Market Segmentation: By Component

• Hardware

• Software

• Services

Based on the component, the global 5G customer analytics market is segmented into hardware, software, and services. In the year 2022, the software segment held the largest market share. The growth can be attributed to the requirement for services, such as consulting, deployment, and maintenance, which are crucial for the successful implementation and utilization of 5G customer analytics solutions.

Global 5G Customer Analytics Market Segmentation: By Deployment Model:

• Cloud 

• On-Premise

Based on the deployment model, the global 5G customer analytics market is segmented into cloud and on-premise. In 2022, the cloud segment held the highest market share. The growth can be attributed to the advantages of cloud-based deployment over on-premise regarding scalability, cost-effectiveness, accessibility, security, and integration with other cloud-based services.

Global 5G Customer Analytics Market Segmentation: By Organization Size:

• Small & Mid-sized Enterprises (SMEs)

• Large Enterprises

Based on the organization size, the global 5G customer analytics market is segmented into small and mid-sized enterprises (SMEs) and large enterprises. In 2022, the large enterprise segment held the largest market share. The growth can be attributed to the availability of an extensive customer base of large 5G network providers, which generated huge amounts of data on a daily basis. 

Global 5G Customer Analytics Market Segmentation: By Application

• Customer Behavioral Analysis

• Customer Churn Analysis

• Network Optimization & Management

• Others

Based on the application, the global 5G customer analytics market is segmented into customer behavioral analysis, customer churn analysis, network optimization and management, and others. In 2022, the customer behavioral analysis segment held the largest market share. The growth can be attributed to the application's trait of collecting and analyzing data regarding customer behavior, preferences, and usage patterns to gain useful insights and help businesses make effective decisions.

Global 5G Customer Analytics Market Segmentation: By End-User

• BFSI

• IT & Telecommunications

• Retail & E-commerce

• Travel & Hospitality

• Healthcare

• Media & Entertainment

• Others

Based on the end-user, the global 5G customer analytics market is segmented into BFSI, IT and Telecommunications, retail and e-commerce, travel and hospitality, healthcare, media and entertainment, and others. In 2022, the IT and Telecommunications segment held the largest market share. The growth can be attributed to the industry's increasing adoption of advanced technologies, including 5G services and customer data analysis. The data collected from customers is used to enhance overall customer experience and network performance, which propels this segment's growth.

Global 5G Customer Analytics Market Segmentation: By Region

• North America

• Europe

• Asia-Pacific

• The Middle East & Africa

• South America

In 2022, the region of North America held the largest share of the global 5G customer analytics market. The growth can be attributed to the early and widespread adoption of advanced technologies, such as 5G services and customer data analysis, by various industries, primarily the IT and telecommunications industries. In addition, the region has a well-established infrastructure of IT and telecommunication industry, which further propels the region's growth. Moreover, the region is home to major market players, such as AT&T Inc., Qualcomm Technologies, Inc., Verizon Communications, Inc., U.S Cellular Corporation, and C Spire.

Global 5G Customer Analytics Market Key Players:

1. AT&T Inc. (United States)

2. ZTE Corporation (China)

3. Qualcomm Technologies, Inc. (United States)

4. Verizon Communications Inc. (United States)

5. Deutsche Telekom AG (Germany)

6. Vodafone Group Plc (United Kingdom)

7. China Telecom Corporation Limited (China)

8. T-Mobile (Germany)

9. Nokia Corporation (Finland)

10. Orange S.A. (France)