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(IndustryNews247.Com, August 17, 2022 ) Telecom Billing and Revenue Management Market size is expected 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 according to report published by MarketsandMarkets. The major factors expected to drive the growth of the telecom billing and revenue management market are the growing number of cellular/mobile subscribers, increasing complexities in revenue sharing across the telecom ecosystem, and the evolution of Communications Service Provider (CSPs) to Digital Service Providers (DSPs).
The availability of immense new opportunities for revenue assurance solutions and service vendors is further expected to shape the future of this market. These opportunities include the need to maximize revenue streams with efficient Artificial Intelligence (AI) and Machine Learning (ML) in the existing revenue management system and the need of operators to take service innovation to the next level for monetizing and marketing 5G and Internet of Things (IoT), thus making these technologies rely more on revenue management systems.
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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 Telecom Billing and Revenue Management 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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Mr. Aashish Mehra
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Mr. Aashish Mehra
Industrial News TV