Telecom Billing and Revenue Management Market is expected to grow at a CAGR of 16.2% during the forecast period, to reach US$ 62.5 Billion by 2027.
PUNE, MAHARASHTRA, INDIA, December 4, 2019 /EINPresswire.com/ — Latest market study on “Telecom Billing and Revenue Management Market to 2027 by Type (Telecom Billing, Cloud Billing, IoT Billing); Component (Solution, Services); Deployment Type (Cloud, On-premise, Hybrid)– Global Analysis and Forecast”, the global telecom billing and revenue management market was valued at US$ 16.5 Bn in 2018. The report includes a key understanding of the driving factors of this growth and also highlights the prominent players in the market and their developments.
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. The factors that are supporting the growth of the market also include a rapidly growing telecommunication sector, deployment of various innovative services, and a growing number of customers.
Download Sample PDF Brochure @ https://www.theinsightpartners.com/sample/TIPTE100000103/
Asia-Pacific (APAC) is contributing to the biggest share of this market, followed by Europe and then North America. The Asia Pacific leads the telecom billing and revenue management market, owing to factors such as improving needs for innovative billing and revenue management solutions and services, high growth of the telecom industry in the last decade, and increasing data consumption trends and increasing mobile penetration in the emerging market. China and India are the potential countries in terms of modern technologies, the standard of living, infrastructure, etc. China dominates the telecom billing and revenue management market in the Asia Pacific, also is expected to grow at the highest CAGR during the forecast period.
Global Telecom Billing and Revenue Management Market – Company Profiles
CSG Systems International, Inc.
goTransverse International, Inc.
Hewlett-Packard Development Company, L.P.
Huawei Technologies Co., Ltd.
Telecom operators and CSPs worldwide are facing complexity in managing systems, scaling network infrastructure and catering to the ever-increasing consumer base. Attaining high operational efficiency along with improved revenue management and collection is one of the top priorities and requirements for the telecom operators and CSPs. Efficient cloud-based billing solutions provide telecom operators and CSP’s ease to effectively monitor subscriber service usage according to the service plans and charge accordingly. It helps CSPs to manage their payments, accounts and help them to build, plan and optimize their networks while supporting companies to manage a high number of simultaneous transactions and customer requests.
The constant urge and requirement for providing rich communication services and improved high-quality customer experiences are 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.
The market for global telecom billing and revenue management market by component is segmented as solutions and services. The solution segment holds the major market share of the global telecom billing and revenue management market. The solutions for telecom billing and revenue management monetize subscription and usage-based business models with swiftness. The solution provides billing flexibility at each level of the account hierarchy. The solution also offers features such as multi-party billing and flexible bill formatting. These help telecom billing and revenue management process more transparent with flexible, scalable, and highly-automated solutions for billing, invoicing, and revenue management. It captures and monitors subscription orders to ensure delivery and billing accurateness, addresses contract changes and billing cycles automatically.
The telecom billing and revenue management market on the basis of type is segmented as telecom billing, cloud billing, and IoT billing. The telecom billing segment led the telecom billing and revenue management market. Telecom billing is the process of collecting and grouping the telecom based products and services; it is also responsible for gathering consumption of data, calculating charging and billing information, generate bills to customers and process their payments and handle debt collection. The complication associated with the mobile device technologies and pricing plans provided by the telecom service providers eventually paved the way for the growth of efficient and robust telecom billing solutions. This solution supports communication service providers and telecom operators to enhance their billing and charging procedures, revenue leakage detection, prevents and detect frauds, helps partner management, and improves revenues.
Reason to Buy:
– Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Telecom Billing and Revenue Management Market
– Highlights key business priorities in order to assist companies to realign their business strategies.
– The key findings and recommendations highlight crucial progressive industry trends in the Telecom Billing and Revenue Management Market, thereby allowing players to develop effective long term strategies.
– Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
– Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
– Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
The Insight Partners
email us here
Source: EIN Presswire