According to a research report "Telecom Billing and Revenue Management Market major factors expected to drive the growth include the growing number of cellular or mobile subscribers, the evolution of Communications Service Providers (CSPs) to Digital Services Providers (DSPs), and increasing complexities in revenue sharing across the telecom ecosystem. Telecom Billing and Revenue Management Market provide detailed information about the major factors (drivers, opportunities, threats, and challenges) influencing the growth of the market - Global Forecast to 2024" published by MarketsandMarkets. The global telecom billing and revenue management market to grow from USD 10.8 billion in 2019 to USD 18.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.8% during the forecast period.
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Billing and charging segment to record the
highest growth rate during the forecast period
Under the software
segment, the billing and charging management segment is expected to grow at the
highest CAGR during the forecast period. The billing and charging solution
enables operators to support different lines of businesses on a single platform
by aggregating data from numerous billing tools and generating a single
invoice. The solution consolidates all the financial transactions associated
with customer billing accounts over a certain period into a single bill. It
helps service providers exchange billing data and invoices, and share revenue
or cost information with partners, thereby empowering operators to maintain
billing accuracy and improve customer experience by enabling the end-to-end
management of disputes and adjustments.
Mobile operators segment to record a higher
CAGR during the forecast period
In the telecom billing and revenue
management market by telecom operator type, the mobile operators segment is
expected to record a higher CAGR during the forecast period. The total number
of mobile operators is 750 around the world, as per the report by GSMA. Due to
increased competition, the mobile operator focuses on network, service, and
end-user-related data to deliver optimal service performance and customer
experience management. The solution enables Mobile Network Operators (MNOs) and
Mobile Virtual Network Operators (MVNOs) to accelerate new product or service
launches, supported by the robust revenue-sharing model. It supports full
automation of business processes and monetizes all MVNO offering types from
voice, short message service (SMS), data, and digital to Internet of Things
(IoT) services for 3G, 4G, and 5G.
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North
America to hold the largest market size during the forecast period
North
America is expected to hold the largest market size in the global telecom
billing and revenue management market during the forecast period. The US has
emerged as the largest country for the market in terms of market size, due to
the heavy adoption of advanced technologies, such as 5G, cloud, analytics, and
IoT, across the US organizations. Moreover, the US is one of the most advanced
countries in the world in terms of technology adoption, which is known for its
innovative and disruptive startups.
Key
and emerging market players include Amdocs (US), Netcracker (NEC Corporation
[Japan]), CSG International (US), Oracle (US), Ericsson (Sweden), Huawei
(China), Cerillion (UK), Mahindra Comviva (India), Optiva (Canada), Comarch
S.A. (Poland), Nokia (Finland), SAP (Germany), HPE (US), Openet (Ireland),
TEOCO (US), Intracom Telecom (Greece), Enghouse Networks (Canada), Nexign
(Russia), Bearing Point (Netherlands), FTS (Israel), Subex (India), Sterlite
Technologies (India), Tecnotree (Finland), Zuora (US), and Apttus (US).
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