Report : Telecom Billing and Revenue Management Market Forecast to 2027 - Covid-19 Impact and Global Analysis by Type (Telecom Billing, Cloud Billing, and IoT Billing); Component (Solution and Services); Deployment Type (Cloud, On-premise, and Hybrid); and Geography
Growing telecom sectorto lead growth of telecom billing and revenue managementmarket at 16.4%CAGR during 2020–2027
According to our latest market study on “GlobalTelecom 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 highlightskey factors driving the market growth, and prominent players and their developmentsin the market.
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.
The increasing necessity for improved connectivity solutions to connect smart devices, and growing demand from telecom and smart equipment manufacturers to monetize as well as handle the smart equipment via connectivity have been the foremost factors driving the global telecom billing and revenue management market growth. Telcos are stimulating over-the-top (OTT) applications that boost the adoption of IoT telecom services. IoT-based billing platformsconfer power and flexibility to ensure monetization of the services, products, and revenue streams. According to the GSMA report, ~25 billion IoT devices are estimated to be connected by 2025.
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; goTransverse International, Inc.; Hewlett-Packard Development Company, L.P.; Huawei Technologies Co., Ltd.; NEC Corporation; Oracle Corporation; Redknee, Inc.; SAP SE; and XURA.
COVID–19 Impact on Telecom Billing and Revenue ManagementMarket
According to latest situation report from the World Health Organization (WHO), the US, Spain, Italy, France, Germany, the UK, Russia, Turkey, Brazil, Iran, and China are among the worst-affected countries due to the currently active COVID-19 pandemic. The COVID-19 crisis had a positive impact on the growth of a few sectors,including IT and telecommunications. The demand for digital services especially has escalated at a high rate in past few months. Nevertheless, the decrease in business activities such as partnerships meant to boost the adoption of telecom billing and revenue management solutions in various countries is anticipated to hinder the growth of telecom billing and revenue management provider in the next few financial quarters. Thus, due to a mixed impact, the market growth would drop by a small margin in 2020 and 2021.
The report segments the global telecom billing and revenue management market as follows:
Global Telecom Billing and Revenue Management Market – By Component
Global Telecom Billing and Revenue Management Market – By Type
Global Telecom Billing and Revenue Management Market – By Deployment Type
Global Telecom Billing and Revenue Management Market – By Geography
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