The global telecom billing and revenue management market was valued at US$ 18,469.4 million in 2019 and is expected to grow at a CAGR of 16.4% during the forecast period, to reach US$ 59,075.4 million by 2027.
The telecom billing and revenue management solutions and services are used by various communication services providers worldwide to efficiently manage their revenue. Such solutions and services empower the telecom service providers with fraud management and fraud detection abilities, resulting in decreased operational costs. Additionally, these telecom billing and revenue management solutions and services help telecom service providers in introducing new services in the market, along with improving customer experience with real-time account recharging services. Therefore, growing operating costs are generating demand for advanced telecom billing and revenue management solutions. The factors supporting the growth of the market also include rapid growth of the telecommunications sector, deployment of various innovative services, and growing number of customers.
The telecom billing and revenue management market has been segmented on the basis of component, type, deployment, and geography. Based on component type, the market is segmented into solutions and services. Based on type, the market is segmented into telecom billing, cloud billing, and IoT billing. Based on deployment, the telecom billing and revenue management market is segmented into on-premises, cloud, and hybrid. In terms of geography, the global telecom billing and revenue management market is segmented into North America, Europe, Asia-Pacific, Middle East and Africa, and South America.
Several of the notable players profiled in the global telecom billing and revenue management market are 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.
Impact of COVID-19 Pandemic on Telecom Billing and Revenue Management Market
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 global telecom billing and revenue management market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. The process also serves the purpose of obtaining overview and forecast for the telecom billing and revenue management market with respects to all the segments. It also provides the overview and forecast for the market based on all the segmentation provided with respect to five major regions?North America, Europe, Asia Pacific, the Middle East and Africa, and South America. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The respondents typically participating in this process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers along with external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the telecom billing and revenue management market.