Report : Asia Pacific Telecom Billing and Revenue Management Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type (Telecom Billing, Cloud Billing, and IoT Billing); Component (Solution and Services); Deployment Type (Cloud, On-premise, and Hybrid); and Country
Cloud-based deployment to grow at significant rate during 2020−2027.
According to The Insight Partners market research study on “Asia Pacific Telecom Billing and Revenue Management Market to 2027 – Regional Analysis and Forecast by Type, Component, And Deployment Type,” the market is expected to reach US$ 13806.0 million by 2027 from US$ 4918.5 million in 2019. The market is estimated to grow at a CAGR of 14.6% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific telecom billing and revenue management market along with the drivers and restraints pertaining to the market growth. Substantial growth of telecom industry in the last decade and growing data consumption trend coupled with increasing mobile usage in emerging market are the major factors driving the growth of the telecom billing and revenue management market. However, high investments and legacy systems might hinder the growth of Asia Pacific telecom billing and revenue management market.
The telecom billing and revenue management market by deployment type has been segmented into cloud, on-premises, and hybrid. The companies that are planning to make significant investments in telecom billing and revenue managements might opt for modern platforms such as cloud-based solutions. Numerous organizations in various regions are adopting cloud-based telecom billing and revenue management solutions due to reliability and low cost ensured by these products. Cloud-based products also minimize the requirements for IT infrastructure and physical storage, thereby assisting in significant savings. The cloud-based solutions offer flexibility to operations, which is another factor boosting their adoption. The huge adoption of cloud-based technologies is mainly supported by the presence of cloud service providers offering affordable and free subscription-based models, with quick setup. The deployment of an on-premises telecom billing and revenue management is sometimes complex and expensive to build in-house. Not every organization finds it feasible to invest in this type of platform. Thus, the demand for the cloud-based models is anticipated to grow at a fast pace during the forecast period. The hybrid deployment provides end-users with the ability to leverage benefits of both on-premise and cloud deployments. In the hybrid deployment, the company has flexibility to choose applications to host on-premise or on third-party cloud according to the criticality of workload. Further, the growing digital revolution across the world is fueling the adoption of cloud-based deployment in telecom industry. Owing to these factors, the adoption of cloud-based deployment of the telecom billing and revenue management is expected to grow at a significant rate from 2020 to 2027.
Accenture PLC; Nokia Corporation; Amdocs, Inc.; Cerillion PLC; Comarch SA; CSG Systems International, Inc.; Fiserv, Inc.; Ericsson, Hewlett Packard Enterprise Development LP (HPE); Huawei Technologies Co., Ltd.; Mphasis, Optiva Inc.; Oracle Corporation; SAP SE; Mavenir Systems; and NEC Corporation are among the leading companies in the Asia Pacific telecom billing and revenue management market. The companies are focused on adopting both organic and inorganic growth strategies such as product launches, partnerships, and business expansions to sustain their position in the dynamic market. For instance, in 2020, Telecom Fiji Limited, provider telephony services, collaborated with Oracle Communications to update customer engagement and speed delivery of products and services. The company will deploy Oracle’s billing and revenue management as a part of the Oracle Digital Experience for Communications suite, to allow a digital customer experience. In 2019, CSG introduced Ascendon Communications, a software-as-a-service (SaaS) used as cloud-based business support systems (BSS) solution which offers catalogs, order management, B2B2x offerings, capture and decomposition, real-time rating and charging, service activation, billing and revenue management, and invoicing.
The Report Segments the Asia Pacific Telecom Billing and Revenue Management Market as Follows:
Telecom Billing and Revenue Management Market– By Component
Telecom Billing and Revenue Management Market – By Type
Telecom Billing and Revenue Management Market– By Deployment Type
Telecom Billing and Revenue Management Market – By Country