According to our latest market study on “Global Telecom 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 highlights key factors driving the market growth, and prominent players and their developments in the market.
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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.
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.
Strategic Insights
In the telecom billing and revenue management market, companies mainly adopt the market initiatives strategy to expand their footprint worldwide by meeting the growing demand for their offerings. This strategy is mostly observed to be implemented in the market in North America. A few of the recent initiatives in the telecom billing and revenue management market are listed below:
2020: TDC, a Danish operator, has selected Comarch SA to offer its BSS solutions. The company offered TDC its customer order management and convergent billing system, and application integration framework.
2020: Bell, a Canada-based company, signed an agreement with CSG to help the later with Bell Fibe and Alt TV services, which are residential customer service and billing services. This partnership would enable Bell to leverage the company’s suite of billing solutions, which help millions of voice, video, and data subscribers worldwide.
2020: Huawei announced a launch of convergent billing system R20, a 5G SA network, which is based on a monetization solution. The solution has been installed over the STC Kuwait 5G SA’s network. The company’s billing system is serving 2.2 billion subscribers through ~ 200 CSPs across the globe.
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