Frost & Sullivan's latest report, Global Mobile Data Monitoring Market, finds that the mobile data monitoring market revenue reached $312.4 million in 2013 and estimates this to more than triple, reaching $1.103 billion in 2020, at a compound annual growth rate of 19.8 percent. As mobile data traffic is expected to increase exponentially over the next five to ten years due to the growing adoption of smartphones globally, the industry will witness robust growth in the mobile data monitoring systems, driving the need for tools to improve overall mobile data performance and customer experience. Also, the sky rocketing adoption of smart devices, mobile apps and video that drives the usage and traffic across CSP's networks and systems will necessitate them to increase expenditure on optimization and performance improvement of the network.
Frost also notes that the rise of connected devices and sensors (machine-to-machine (M2M) communication) which is expected to exceed 50 billion together with the ever increase in social networking and over-the-top (OTT) traffic, will continue to drive the demand on data traffic and thus requires CSPs to deploy faster transmission links. The fast adoption of 4G LTE and increasing deployment numbers worldwide, though increasing the network capacity to handle larger traffic volumes, newer applications such as the voice over LTE (VoLTE) and the IP-based multimedia system demands continuous optimization to ensure the deliver of unparalleled voice quality.