Improving needs for innovative billing and revenue management solutions and services is attributing to the growth of the market. The constant urge and requirement for providing rich communication services and improved high-quality customer experiences is cajoling telecom billing and revenue management solution and services providers to further develop such solutions and services, which are compatible and at-par for full filling the dynamic requirement and demand of end-users with improved scalability, flexibility, and functionality. Efficient and flexible billing and revenue management solutions help the CSP’s to monetize the data and service usage further, providing company with improved real-time data analytical capabilities and efficiency to channelize their revenue streams by further providing customized solutions. It also helps CSPs to efficiently manage the growing subscriber’s billing and charging processes through an effective single platform.
Further, it helps companies and provides them the confidence to roll out new customized offers, revenue-generating services, and charging policies in a short period with improved efficiency, and also to monetize their infrastructural investments while enhancing customer and revenue management. CSP’s are continually upgrading their legacy systems by adding platforms that will help in servicing enhanced subscriber base and migrating towards cloud-based solutions and services such as SaaS, which will help them to lower down the CAPEX while optimizing OPEX. Additionally, increasing spending trends and requirements on solutions such as BSS/OSS is also accelerating the growth of competitive global telecom billing and revenue management market
The COVID-19 crisis had a positive impact on the growth of some sectors such as IT and telecommunications. The demand for digital services especially has grown at a high rate in past few months. Nevertheless, the decrease in business activities such as partnerships to increase the adoption of telecom billing and revenue management solutions in various countries is anticipated to impact the telecom billing and revenue management provider’s expansion growth negatively. Hence, there will be a mixed impact due to which the growth will drop a little in 2020 and 2021.
Telecom operators and CSP’s worldwide are facing complexity in managing systems, scaling network infrastructure and catering to ever increasing consumer base. Attaining high operational efficiency along with improved revenue management and collection is one of the top priorities and requirement for the telecom operators and CSP’s. Efficient cloud-based billing solutions provides telecom operators and CSP’s ease to effectively monitor subscriber service usage according to the service plans and charge accordingly. It helps CSP’s to manage their payments, accounts and help them to build, plan and optimize their networks, while supporting companies to manage high number of simultaneous transactions and customer requests.
One of the biggest advantage that cloud-based solutions and services model such as SaaS provide to telecom operators and CSP’s is low initial investment or capital cost. It helps companies to reduce infrastructural investment and integration efforts, providing them facilities such as pay-as-you-go model which also helps companies to try out new solutions with low risk. Also, services models like SaaS provide telecom operators and CSP’s the ability to quickly deploy and support new and existing services, thereby helping companies to enter into new markets venues more quickly and economically with greater flexibility.
Based on component, the telecom billing and revenue management market is segmented into solution and services. The solutions segments held the largest market share in 2019.
Players operating in the telecom billing and revenue management market are mainly focused on the development of advanced and efficient products.
The regional trends and factors influencing the Telecom Billing and Revenue Management Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Telecom Billing and Revenue Management Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2020 | US$ 20.36 Billion |
| Market Size by 2027 | US$ 59.08 Billion |
| Global CAGR (2020 - 2027) | 16.4% |
| Historical Data | 2018-2019 |
| Forecast period | 2021-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Telecom Billing and Revenue Management Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Telecom Billing and Revenue Management Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Telecom Billing and Revenue Management Market