Global Telecom Billing and Revenue Management market is expected to reach $25.22 billion by 2027
GAITHERSBURG, Md., Aug. 6, 2020 /PRNewswire/ -- According to Stratistics MRC, the Global Telecom Billing and Revenue Management Market is accounted for $10.26 billion in 2019 and is expected to reach $25.22 billion by 2027 growing at a CAGR of 11.9% during the forecast period.
Some of the key players profiled in the Telecom Billing and Revenue Management Market include Amdocs, Netcracker, CSG Systems International, Oracle, Ericsson, Huawei, Cerillion, Mahindra Comviva, Optiva, Comarch S.A, Nokia, SAP, HPE, Openet, and Intracom Telecom.
The growing number of cellular or mobile subscribers, the evolution of CSPs to DSPs, and increasing complexities in revenue sharing across the telecom ecosystem are the major factors propelling the market growth. However, the presence of stringent telecom regulations and lack of technical proficiency in implementing billing and revenue assurance solutions are hampering the market growth.
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The telecom billing and revenue management solutions and services are used by various communication services providers across the world to grow their revenue by enhancing telecom networks. Such solutions and services empower the telecom service providers in fraud management and fraud detection resulting in decreased operational costs. Additionally, these telecom billing and revenue management solutions and services help telecom service providers in introducing new services in the market together with improving customer experience with real-time account recharging services. Moreover, with the rise in networks, services, and solutions, telecom operators sustain high operational costs. Therefore, growing operating costs are producing demand for advanced telecom billing and revenue management solutions.
Based on the deployment, the on-premises segment is going to have a lucrative growth during the forecast period owing to the maintenance and support, high-end IT and networking infrastructure. On-premises telecom billing and revenue management solutions are also known as customer premises solutions. This is the most demanded, traditional, and popular deployment type among operators. The majority of telecom operators stick to on-premises systems, as the infrastructure is already present and can be reused, thereby saving a substantial amount on infrastructural change.
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By geography, North America is going to have a lucrative growth during the forecast period due to the large-scale implementations in the telecom industry over the last decade. Some of the top companies, such as HPE and Enghouse Networks, are headquartered in North America. Mobile penetration in the region is very high. As the telecom industry in North America is more saturated than other regions, there is a high demand for telecom billing and revenue management solutions.
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