Telecoms billing market on pace to $14b in 2022
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The global telecom billing and revenue management market is expected to reach$14.2 billion in 2022 with a CAGR of 8% from $7.6 billion in 2014.
The factors that are favoring the market growth include, hastily growing telecommunication sector, deployment of innovative services and increasing number of customers, whereas factors such as quick growth of subscribers, network clogging, plunge in quality of services, and fallout of services area are inhibiting the market growth.
North America and Europe have the highest adoption of billing and revenue management in the telecom ecosystem and regions such as Asia-Pacific, Middle East and Africa along with Latin America offer a lot of opportunities for the vendors.
Countries in Asia Pacific such as China and India have large subscriber bases and ever changing regulatory scenarios, thus creating demand for billing and revenue management solutions.
The global telecom billing and revenue management market is segmented on the basis of deployment type, service, software, and geography. On the basis of deployment, the market is segregated into on-site and cloud.
On the basis of service, the market is categorized into system integration, planning and consulting services, operations and maintenance services, managed services and others. The market is segmented on the basis of software into negotiation, revenue assurance, partner management, fraud management, billing and charging and others.
The key players in the global telecom billing and revenue management market include Accenture, Cisco, Oracle, Ericsson, Hewlett-Packard (HP), SAP, Huawei Technologies, NEC, Amdocs and Comverse.
Questions & Answers
Q.What factors are driving growth in the telecom billing and revenue management market?
What factors are driving growth in the telecom billing and revenue management market?
The market is growing due to the rapidly expanding telecommunication sector, the introduction of innovative services, and an increasing number of customers. These elements contribute to the rising demand for billing and revenue management solutions.
Q.What challenges are currently hindering the growth of this market?
What challenges are currently hindering the growth of this market?
Market growth is being inhibited by several factors, including the rapid increase in subscriber numbers, network congestion, a decline in service quality, and service area limitations. These issues present obstacles to expansion.
Q.Which geographic regions are identified as having the most potential for vendors in this market?
Which geographic regions are identified as having the most potential for vendors in this market?
Asia-Pacific, the Middle East, Africa, and Latin America are identified as regions offering significant opportunities for vendors. Countries like China and India in Asia-Pacific, with their large subscriber bases, are particularly highlighted.
Q.Which are some of the major companies operating in the global telecom billing and revenue management market?
Which are some of the major companies operating in the global telecom billing and revenue management market?
Key players in this market include Accenture, Cisco, Oracle, Ericsson, Hewlett-Packard (HP), SAP, Huawei Technologies, NEC, Amdocs, and Comverse. These companies are identified as leading providers of relevant solutions.
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