17 Dec Telecom Billing and Revenue Management Market to 2027 – Global Analysis and Forecasts by Type; Component; Deployment Type
NEW YORK, Dec. 16, 2019 /PRNewswire/ —
The global telecom billing and revenue management market was valued at US$ 16.5 Bn in 2018 and is expected to grow at a CAGR of 16.2% during the forecast period, to reach US$ 62.5 Bn by 2027.
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One of the prime factors that are driving the global telecom billing and revenue management market include increasing mobile penetration worldwide and high growth in the subscriber base in various regions.High capital expenses (CAPEX) involved in upgrading the existing network infrastructure and establishing a new one, along with a complex regulatory environment, are few factors hindering the global telecom billing and revenue management market.Providing telecom billing and revenue management systems using cloud and IoT technology is trending nowadays across the world.In the coming years, the telecom enterprises would become one of the main beneficiaries of the cloud and IoT industry, receiving large revenues from numerous types of paid services, accomplishing profit growth, building their brand of cloud service system through the analysis of user needs.Furthermore, the growing preference and shift towards cloud and IoT solutions and services are providing an opportunity for the growth of the telecom billing and revenue management market.These technologies have changed the communications landscape by allowing various devices to interact with each other.This developing world delivers a major opportunity for communications providers to provide new services, capture new business, and generate additional revenue.The global telecom billing and revenue management market by component is segmented as solutions and services.The service segment of telecom billing and revenue management market is expected to witness high CAGR during the forecast period.The global telecom billing and revenue management market on the basis of services is segmented into professional services and managed services.Professional services include consulting services, managed services, operations services, and system integration services.Where managed services managed, provide cloud and hosting, data center, and other offerings from a single platform. These services help CSPs and telecom operators to achieve improved operational efficiency, better control, and improvement over processes and help companies to improve overall profitability.Asia Pacific held the largest share of the global telecom billing and revenue management market in 2018, followed by Europe and North America.The telecom billing and revenue management market has been segmented into the 5 major regions: North America, Europe, APAC, MEA, and SAM.Growth in the telecom industry across the globe particularly in the developing economies of Asia Pacific region coupled with increasing mobile and internet penetration across the region is propelling the global telecom billing and revenue management market.APAC is fastest-growing market for telecom service providers.Furthermore, voice and data consumption rate in APAC are witnessing significant growth due to high volume of mobile and broadband subscribers and users, thereby resulting in tremendous growth opportunities for telecom billing and revenue management solutions providers.Additionally, mobile data and internet traffic is also expected to increase in Asia Pacific region.As per Cisco, mobile data and internet traffic was 5.88 Exabyte per month, and it is estimated that it would increase to 43.17 Exabyte per month with a CAGR of 49% during the forecast period (2017-2022).There is a significant increase in demand for efficient billing and revenue management solutions with the growing number of telecom service users in the APAC region, especially in populous countries such as India and China.The telecom billing and revenue management market is witnessing rapid growth in this region owing to the large customer base, increasing mobile and internet penetration rates.China holds the largest share in the APAC telecom billing and revenue management market.The telecom billing and revenue management market in the APAC region is projected to grow at high CAGR during the forecast period 2019 to 2027.Furthermore, IoT and cloud-based billing and revenue management solutions and services have helped operators continue to grow and look beyond connectivity. These solutions are providing significant benefits to customers such as reduced costs, increased productivity, and automated business processes, and driving innovative new products and services, new lines of business, and new business models.Some of the notable players profiled in the global telecom billing and revenue management market are Accenture PLC, Alcatel-Lucent S.A., Amdocs, Inc., Cerillion PLC, CSG Systems International, Inc., Ericsson, goTransverse International, Inc., Hewlett-Packard Development Company, L.P., Huawei Technologies Co., Ltd., NEC Corporation, Oracle Corporation, Redknee, Inc., SAP SE, and XURA.Read the full report: https://www.reportlinker.com/p05833626/?utm_source=PRN About Reportlinker ReportLinker is an award-winning market research solution. 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