What Has Been The Evolution of the Telecom Cloud Billing Market in Recent Years?
The telecom cloud billing market has seen considerable growth due to a variety of factors.
• In the past few years, the telecom cloud billing market has witnessed remarkable growth. It is projected to increase from its 2024 value of $15.2 billion to $19.25 billion in 2025, boasting a compound annual growth rate (CAGR) of 26.6%.
The substantial growth during the historical period is due to factors such as the rise in adoption of cloud-based billing, more widespread usage of smartphones, reduction in operational and administrative costs, advancements and increased uptake of cloud-based technologies, a rise in mobile penetration, and the demand for real-time billing.
What Is the Forecasted Market Size and Growth Rate for The Telecom Cloud Billing Market Size In The Coming Years?
The telecom cloud billing market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of telecom cloud billing is predicted to witness remarkable expansion in the upcoming years, reaching $49.03 billion in 2029 with a compound annual growth rate (CAGR) of 26.3%.
Factors contributing to this predicted growth during the forecast period include the escalating demand for revenue management, increased focus on competitive landscape analysis, the rising adoption of cloud-based billing, and a surge in demand for bundled services. The forecast period is also expected to see notable trends such as the growth and greater acceptance of cloud-based technologies, an increase in mobile usage, and the requirement for real-time billing amidst swift economic development.
What Factors Are Driving Growth In The Telecom Cloud Billing Market?
The increase in the utilization of cloud computing is predicted to boost the telecom cloud billing market's expansion in the future. Cloud computing involves the provision of computing services such as servers, storage, databases, networking, software, analytics, and intelligence through the internet, provides for rapid innovation, flexible resources, and economies of scale. In the context of telecom cloud billing, cloud computing allows for the efficient scaling of resources depending on demand, thereby imparting flexibility in handling billing and provisioning requirements in the telecommunication sector. For instance, the 2022 State of The Cloud report, which surveyed 753 technologists and business professionals, indicated that 89% of those availing of cloud services use multi-cloud solutions for workloads and storage in 2022. Moreover, 2% utilize one private cloud solution, while 9% use a single public cloud, marking a 1% increase from 2021. As such, the acceleration in the adoption of cloud computing is facilitating the telecom cloud billing market's advancement.
What Are The Main Segments Of The Global Telecom Cloud Billing Market?
The telecom cloud billing market covered in this report is segmented –
1) By Type: Convergent, Prepaid, Postpaid, Interconnect, Roaming
2) By Service: Professional, Managed
3) By Application: Revenue Management, Account Management, Customer Management, Traffic Management, Billing and Provisioning
4) By End User: Transportation, Government, Media And Entertainment, Healthcare, Banking, Financial Services and Insurance (BFSI), Retail
Subsegments:
1) By Convergent: Unified Billing Systems, Multi-Service Billing Solutions
2) By Prepaid: Prepaid Charging Systems, Voucher Management Systems
3) By Postpaid: Postpaid Billing Solutions, Invoice Management Systems
4) By Interconnect: Interconnect Billing Systems, Usage Data Management Solutions
5) By Roaming: Roaming Billing Solutions, Roaming Data Management Systems
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What Trends Are Reshaping The Future Of The Telecom Cloud Billing Market?
Leading corporations in the realm of telecom cloud billing are introducing cutting-edge technologies like telecom data clouds to enhance their customer services. The telecom data cloud is a unique, cloud-based platform used for handling and making use of data generated by telecommunications operators. For example, Snowflake Inc., a cloud computing data cloud firm based in the U.S., unveiled the Telecom Data Cloud in February 2023. This platform, designed to assist telecom service providers in optimizing data monetization and improving operational efficiency, also encompasses the cloud services billing model. The Telecom data cloud endeavors to dismantle data silos, facilitate personalized data and application services, and expedite time-to-value for clients. It merges Snowflake's data platform with partner-delivered solutions and sector-specific datasets, equipping organizations to effortlessly access, share data close to real-time, create machine learning models, and expedite business decisions.
Who Are the Key Players In The Telecom Cloud Billing Market?
Major companies operating in the telecom cloud billing market report are:
• Verizon Communications Inc.
• Deutsche Telekom AG
• AT&T Corporation
• NTT Communications Corporation
• Huawei Technologies Co. Ltd.
• Vodafone Group Plc
• Oracle Corporation
• SAP SE
• Telefonaktiebolaget LM Ericsson
• Salesforce Inc.
• BT Group plc
• Tata Consultancy Services Limited
• Infosys Limited
• Lumen Technologies Inc.
• Telstra Corporation Ltd.
• DXC Technology Company
• Wipro Ltd.
• CGI Inc.
• Computer Sciences Corporation
• Tech Mahindra Ltd.
• Amdocs
• Netcracker Technology Corp.
• AsiaInfo Technologies Limited
• Redknee Inc.
• Optiva Inc.
• Cerillion Technologies Limited
What Is The Most Dominant Region In The Telecom Cloud Billing Market?
North America was the largest region in the telecom cloud billing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom cloud billing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
