Global Telecom Billing and Revenue Management Market
Global Telecom Billing and Revenue Management Market size was valued at US$ XX Bn in 2019 and is expected to reach US$ XX Bn by 2019 at a CAGR of 11.2 % during the forecast period.
The global Telecom Billing and Revenue Management market report is a comprehensive analysis of the industry, market, and key players. The report has covered the market by demand and supply-side by segments. The global Telecom Billing and Revenue Management report also provides trends by market segments, technology, and investment with a competitive landscape.
Overview of Telecom Billing and Revenue Management:
The process of acquiring consumption data, aggregating it, adding necessary charges, and finally creating invoices for users is known as telecom billing. Receiving and recording payments from customers is also part of the procedure. Billing systems are sometimes referred to as accounts receivable since they aid in the collection of funds from clients.
Revenue management aids in the prediction of customer behavior, which in turn aids in the improvement of product accessibility and price to maximize revenue. Global telecom operators and communication service providers (CSPs) have seen a considerable change in the number of end-users and their demands over the past few decades.
Global Telecom Billing and Revenue Management Market Dynamics:
During the projected period, development in the telecommunications sector is expected to be a major factor driving higher demand for telecom billing and revenue management solutions and services. The adoption of enhanced services and an increasing client base have caused a burden on existing network charging methods as the telecom business grows.
Furthermore, telecom operators face substantial operational costs as their networks, services, and solutions grow. As a result of rising operating costs, smart telecom billing and revenue management solutions are in high demand. However, the growth of the telecom billing and revenue management industry is hampered by factors such as disparities in telecom regulations around the world, which cause interoperability challenges, and legacy systems.
In the telecom business, old systems are prevalent; replacing legacy systems with newer technologies has proven difficult due to the significant costs involved. Integrity difficulties with legacy systems limit the implementation of new telecom billing revenue management technologies. The growing demand for value-added services presents a huge growth opportunity for market participants. However, one of the primary issues encountered by telecom operators in industrialized countries around the world is subscriber saturation.
Impact of COVID 19 on Global Telecom Billing and Revenue Management Market
According to the World Health Organization's (WHO) most recent situation report, the United Kingdom, the United States, Spain, Italy, France, Germany Russia, and China are among the countries most severely hit by the presently active COVID-19 pandemic. The COVID-19 crisis boosted the growth of certain industries, including information technology and telecommunications. The demand for digital services, in particular, has exploded in recent months. However, a drop in commercial activities such as partnerships aimed at increasing the use of telecom billing and revenue management solutions in various countries are expected to hamper telecom billing and revenue management provider growth in the coming quarters. As a result of the mixed impact, market growth in 2020 and 2021 is expected to be slightly lower.
Global Telecom Billing and Revenue Management Market Segmentation:
Global Telecom Billing and Revenue Management Market Regional Insights
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Based on the component, the telecom billing and revenue management market is segmented into solutions and services. Solution segment further segmented into mediation, billing and charging, revenue assurance, fraud management, and others. The service segment has been bifurcated into professional services and managed services. With a market share of 65.2 % in 2019, the solutions segment led the telecom billing and revenue management market. This high percentage is due to the increasing use of telecom billing and revenue management solutions, as well as the numerous benefits they provide. The billing and charging management solution had the highest revenue share among solution offerings in 2019 and is expected to maintain its dominance in the telecom billing and revenue management market over the forecast period.
Benefits offered by Solution Providers:
The telecom billing and revenue management software service providers offer standalone and integrated solutions. These tools aid operators in evaluating, optimizing, and analyzing each stage of the billing process. It aids in the provision of comprehensive insights and intelligence regarding service providers' and customers' revenue interactions. Billing solution providers around the world have been steadily adding structures to their solutions to ensure that both consumers and telecom operators are not concerned about billing issues.
Some of the Top Billing and Provisioning Software: 2021
• Rev.io
• Fusebill
• eXsight Call Accounting
• aBILLity
• JeraSoft
• Aria
• ActivePlatform
• TimelyBill
• Utilibill
• InTELEbill
• BSS – Open Billing System
Global Telecom Billing and Revenue Management Market Regional Insights
Global Telecom Billing and Revenue Management Market Regional Insights:
Global Telecom Billing and Revenue Management Market
With a revenue share of 37.14 % in 2019, North America dominated the telecom billing and revenue management market. This high percentage is mostly due to increased demand from the telecom sector and the market's adoption of innovative technology. In addition, due to the deployment of modern technologies such as IoT, 5G, analytics, and cloud, the United States dominated the market for telecom billing and revenue management in terms of revenue.
Over the projected period, the market for telecom billing and revenue management in the Asia Pacific is expected to grow at a CAGR of more than XX %. The region's growth can largely be attributed to the growing need for new billing and revenue management solutions and services. In the Asia Pacific area, China leads the market for telecom billing and revenue management, and it is expected to grow at a rapid pace shortly.
Contribution of U.S. Market:
In terms of technology adoption, the United States is one of the most industrialized and advanced countries in the world. Innovative and disruptive startups are well-known in the country. The presence of some of the industry's most notable players, such as Oracle Corporation and CSG Systems International, Inc. is another factor that encourages regional growth. In addition, the region's telecom sector is well-established, with high penetration of communications products and services. The region's telecom business creates a lot of data, which is driving up demand for telecom billing and revenue management.
The considerable growth of the telecom industry and increasing data consumption trend, the rising number of IoT connections, and demand for innovative billing and revenue management solutions and services are the primary drivers driving the growth of the telecom billing and revenue management market in the region. The Internet of Things (IoT) has created numerous opportunities for the telecommunications business.
The objective of the report is to present a comprehensive analysis of the Global Telecom Billing and Revenue Management Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analysed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the Global Telecom Billing and Revenue Management Market dynamics, structure by analyzing the market segments and project the global Telecom Billing and Revenue Management market size. Clear representation of competitive analysis of key players By Component, price, financial position, product portfolio, growth strategies, and regional presence in the Global Telecom Billing and Revenue Management Market make the report investor’s guide.
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Global Telecom Billing and Revenue Management Market
Global Telecom Billing and Revenue Management Market, By Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• South America
Global Telecom Billing and Revenue Management Market Key Players
• Accenture plc
• AmdocsCorporation
• Cerillion
• Comarch SA.
• CSG Systems International, Inc.
• Formula Telecom Solutions Ltd.
• HP Development Company, L.P.
• Huawei Technologies Co., Ltd.
• Intracom Telecom
• Mahindra Comviva
• Netcracker Technology Corp.
• Openet Corporation
• Optiva, Inc.
• Oracle Corporation
• SAP SE
• Sterlite Tech
• Other Key Players
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