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Telecommunication billing refers to the collecting of consumption data, the calculation of charge and billing information, the production of bills for customers, the processing of their payments, and the management of debt collection for communication service providers. A telecom billing system is a piece of corporate software designed to help with telecoms billing.
Telecommunications billing is a sign of any commercial communication services provider, regardless of specialization, such as telephone, mobile wireless communication, VoIP companies, mobile virtual operators, internet service providers, and television companies, who could not operate without it because it adds economic value to their business. The application of disciplined analytic techniques to increase revenue is known as revenue management.
Revenue management's main goal is to sell the right product to the right client at the right time, in the right location, and with the appropriate bundle. Understanding customer perceptions of product value and correctly matching product pricing and availability with each client category is the core of discipline. Income management is a concept that not only optimizes revenue during periods of high demand, but also during periods of low demand.
The COVID-19 crisis boosted the expansion of several industries, such as information technology and telecommunications. The demand for digital services, in particular, has risen rapidly in recent months. Nonetheless, the telecom industry is expected to be impacted by a decline in commercial activities such as collaborations to boost the use of telecom billing and revenue management systems in various nations.
Key Market Driver -
Increasing growth of mobile and internet subscribers, increase in networks, services, and solutions telecom operator due to high operational cost and emerging value-added and data services to drive the market growth.
Key Market Restraint -
High Investments and Legacy Systems to restrict the market growth.
Openet (Ireland), TEOCO (US), Intracom Telecom (Greece), Enghouse Networks (Canada), Nexign (Russia), Bearing Point (Netherlands), FTS (Israel), Subex (India), Sterlite Technologies (India), Tecnotree (Finland), Zuora (US), and Apttus (US) and others are some of the major players.
In terms of market size and large-scale deployments in the telecom sector during the previous decade, North America is one of the most significant areas in the global telecom billing and revenue management market. North America is home to some of the world's most successful firms, like HPE and Enghouse Networks. However, as the North American telecom business matures, the market's growth is slowing.
The Asia-Pacific region is expected to expand at the fastest rate during the forecast period, with China, Japan, India, and the rest of Asia-Pacific segmenting the regional market. Quick economic development, rising cellular subscriber base, rise in smartphone use, rapid expansion across OTT platforms, and digital innovation in key nations such as the United States have all contributed to this boom.
During the projected period, the Europe Telecom Billing & Revenue Management Market is expected to develop at a substantial rate. New services are regularly introduced to telecom service providers' portfolio, resulting in increased demand for effective billing and revenue management systems and solutions.
The telecom infrastructure in countries such as the Middle East and Africa, as well as Latin America, is changing, and as a result, the number of customers in these regions is rising. These reasons are boosting demand for telecom billing and revenue management software and services, which is good for the industry.
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