According to our latest market study on “Global Telecom Billing and Revenue Management Market to 2027 – COVID-19 Impact and Global Analysis and Forecast– by Type (Telecom Billing, Cloud Billing, and IoT Billing); Component (Solution and Services); Deployment Type (Cloud, On-premise, and Hybrid); and Geography,” the market was valued at US$ 18,469.4 million in 2019 and is projected to reach US$ 59,075.4 million by 2027; it is expected to grow at a CAGR of 16.4% from 2020 to 2027.The report highlights key factors driving the market growth, and prominent players and their developments in the market.
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Increasing mobile phone penetration worldwide and high growth in the subscriber base in various regions are among the prime factors driving the global telecom billing and revenue management market. High capital expenses (CAPEX) requirements to upgrade existing network infrastructure and establish a new one, and complex regulatory environment are a few of the factors hindering the global telecom billing and revenue management market. Providing telecom billing and revenue management systems using cloud and IoT technology is witnessing high demand across the globe. The telecom enterprises are set to become one of the main beneficiaries of the cloud and IoT industry in the coming years by receiving large revenues from numerous types of paid services, accomplishing rise in profit margins, building their brand of cloud service system through the analysis of user needs. Further, the growing preference and shift toward cloud and IoT solutions and services are providing an opportunity for the growth of the telecom billing and revenue management market players. These technologies have changed the communications landscape by allowing various devices to interact with each other.
Several notable players profiled in the global telecom billing and revenue management market include Accenture PLC; Alcatel-Lucent S.A.; Amdocs, Inc.; Cerillion PLC; CSG Systems International, Inc.; Ericsson; go Transverse International, Inc.; Hewlett-Packard Development Company, L.P.; Huawei Technologies Co., Ltd.; NEC Corporation; Oracle Corporation; Redknee, Inc.; SAP SE; and XURA.
In the telecom billing and revenue management market, companies mainly adopt the market initiatives strategy to expand their footprint worldwide by meeting the growing demand for their offerings. This strategy is mostly observed to be implemented in the market in North America. A few of the recent initiatives in the telecom billing and revenue management market are listed below:
2020: TDC, a Danish operator, has selected Comarch SA to offer its BSS solutions. The company offered TDC its customer order management and convergent billing system, and application integration framework.
2020: Bell, a Canada-based company, signed an agreement with CSG to help the later with Bell Fibe and Alt TV services, which are residential customer service and billing services. This partnership would enable Bell to leverage the company’s suite of billing solutions, which help millions of voice, video, and data subscribers worldwide.
2020: Huawei announced a launch of convergent billing system R20, a 5G SA network, which is based on a monetization solution. The solution has been installed over the STC Kuwait 5G SA’s network. The company’s billing system is serving 2.2 billion subscribers through ~ 200 CSPs across the globe.
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