What Has Been the Growth of the Telecom Billing And Revenue Management Market So Far?
The telecom billing and revenue management market has seen considerable growth due to a variety of factors.
• In recent times, there has been a swift expansion in the size of the telecom billing and revenue management market. The forecasts predict its growth from a market value of $22.72 billion in 2024 to a staggering worth of $25.58 billion in 2025. This represents a compound annual growth rate (CAGR) of 12.6%. Factors contributing to this impressive growth during the historical period include an increase in mobile subscribers, expansion of telecom services, intricate pricing plans, customer preferences towards personalized services, global expansion of telecom operations, and a transition to prepaid billing models.
What Is the Forecasted Market Size and Growth Rate for The Telecom Billing And Revenue Management Market Size Evolve over the Forecast Period?
The Telecom Billing And Revenue Management market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the telecom billing and revenue management market is predicted to experience rapid expansion. It is anticipated to reach $45.03 billion by 2029, growing at a 15.2%.
compound annual growth rate (CAGR). Factors contributing to this surge during the forecasted period include the monetization of digital services, consolidation in the telecom sector, emphasis on customer experience, digital transformation efforts, zero-rating and sponsored data, and elastic charging systems. Converging services, subscription-based models, advanced analytics and AI, improved customer experience, integration of blockchain, and collaborations and partnerships are the key trends expected to shape the market in the forecast period.
What Factors Are Driving Growth In The Telecom Billing And Revenue Management Market?
The expansion of mobile and internet subscriptions is predicted to boost the telecommunication billing and revenue management market's growth in the future. The phrase 'mobile and internet subscriber' implies any consumer who subscribes to or is authorized to use an STE Service facilitated through the internet. Digital service providers and telecom providers utilize telecom billing and revenue management to improve their operational efficiency through the optimization of telecom networks. For instance, it is anticipated that by 2050, there will be 24 billion interconnected devices worldwide, according to the UK Parliament, a UK governing body, in August 2023. Likewise, in the UK, the number of individuals using smartphones is projected to hit 61 million by 2024. Consequently, the growth of mobile and internet subscribers is a significant factor driving the progress of the telecom billing and revenue management market.
What Are The Main Segments Of The Global Telecom Billing And Revenue Management Market?
The telecom billing and revenue management market covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Model: On-Premises, Cloud
3) By Operator Type: Mobile Operator, Internet Service Providers
Subsegments:
1) By Solutions: Billing Solutions, Revenue Assurance Solutions, Customer Relationship Management (CRM) Solutions, Fraud Management Solutions, Order Management Solutions, Charging Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Managed Services, Training Services
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What Emerging Trends Are Influencing The Growth Of The Telecom Billing And Revenue Management Market?
The growth of technology is emerging as an influential trend in the telecom billing and revenue management market. Numerous firms are making significant investments in billing and revenue management solutions, innovation in services, customer experience excellence, and groundbreaking technologies such as artificial intelligence, big data analytics, and machine learning to achieve a strategic advantage in the industry. For instance, Amdocs, a software and service provider for communication and media businesses based in the US, introduced the Amdocs Freestyle Billing solution in February 2022. This innovative solution aids service providers in updating their billing systems with an adaptable, forward-thinking offering that accommodates new services, physical goods, and digital goods. To utilize the new abilities and use cases enabled by 5G, such as network slicing, AR/VR services, precise monitoring, and more, Freestyle Billing delivers a comprehensive, adaptable monetization strategy. It introduces a one-size-fits-all biller which accommodates every customer, individual, or business with a suitable monetization pattern according to their diverse services, thus offering a wide range of choices for invoicing and business models based on preference. Armed with an advanced toolkit and a flexible approach, this revolutionary product allows service providers to automate and enhance the customer experience.
Who Are the Key Players In The Telecom Billing And Revenue Management Market?
Major companies operating in the telecom billing and revenue management market include:
• Accenture PLC
• Amdocs Limited
• BearingPoint Europe Holdings B.V.
• Cerillion PLC
• Comarch SA
• Comviva Technologies Limited
• CSG International Corporation
• Enghouse Systems Limited
• Huawei Technologies Co Ltd.
• NetCracker Technology Corporation
• Optiva Inc.
• Oracle Corporation
• SAP SE
• Subex Limited
• Telefonaktiebolaget LM Ericsson
• Zuora Inc.
• Alepo Technologies Inc.
• Aptilo Networks Inc.
• AsiaInfo Technologies Limited
• Formula Telecom Solutions Ltd.
• International Business Machines Corporation
• Intracom Telecom SA
• Openet Telecom Inc.
• Tango Telecom Ltd.
• Tech Mahindra Ltd.
• ZTE Corporation
What Is The Most Dominant Region In The Telecom Billing And Revenue Management Market?
North America was the largest region in the telecom billing and revenue management market in 2024. The regions covered in the telecom billing and revenue management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
