According to a new report published by UnivDatos Markets Insights, the Telecom Billing Software Market is expected to grow at a CAGR of around 11% from 2022-2028. The analysis has been segmented into Component (Solutions [Billing and Charging, Revenue Assurance, Fraud Management, and Others] and Services); Deployment (Cloud and On-premises); Telecom Operator (Mobile Operators and Internet Service Providers); Region/Country.
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The telecom billing software market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the telecom billing software market. The telecom billing software market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the telecom billing software market at the global and regional levels.
Market Overview
Telecom billing software is primarily designed to support the telecom billing process. It consists of a set of processes for communication service providers responsible for calculating billing and billing information, collecting consumption data, billing customers, processing payments, and managing collections. Telecom billing software works by connecting to a charging platform called an Online Charging System (OCS) that charges every transaction in real-time. Each time a device on a network interacts with the telecom system, the OCS tracks, and records that interaction based on usage and interaction type as a Call Data Record (CDR). The growing need for operators to identify and recover revenue leakages and detect frauds to deliver high-quality services is contributing to the growth of the market. In addition, the increasing mobile penetration is also contributing to the growth of the market. For instance, according to the Ericsson Mobility Report, by the end of 2028, 5G subscriptions will pass 5 billion and Fixed Wireless Access (FWA) connections will reach 300 million, where 5G will account for almost 80 percent of FWA connections.
COVID-19 Impact
The COVID-19 pandemic has impacted all parts of society. During the COVID-19 pandemic, the telecommunications sector played a vital role in supporting the digital infrastructures of countries around the world. All individuals and governments, whether federal, state, central, local or local, were in constant contact in society to provide and receive real-time information about COVID-19. Hence the telecom billing software market experienced growth during the COVID-19 pandemic.
The global telecom billing software market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on component, the market is bifurcated into solutions and services. The solutions segment is further divided into billing and charging, revenue assurance, fraud management, and others. Amongst solutions and services, the solutions segment catered to a significant share of the market in 2021. This high share is due to the increasing adoption of billing and revenue management solutions for telecoms and the multiple benefits that come with it. Telecom billing solutions help operators assess, optimize and analyze all stages of the billing lifecycle. It helps provide complete insight and information on the revenue relationship between service providers and customers
· On the basis of telecom operators, the market is segmented into mobile operators and internet service providers. The mobile operator held a major share of the telecom billing software market in 2021 and is expected to grow at a substantial CAGR during the forecasted period mainly due to the rising mobile penetration rate worldwide and rapid growth in the subscriber base across various countries. For instance, in U.S., the number of mobile cellular subscriptions increased from 348.2 million in 2018 to 352.5 million in 2021.
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Telecom Billing Software Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (Germany, U.K., France, Italy, Spain, and the Rest of Europe)
· Asia-Pacific (China, India, Japan, and the Rest of Asia-Pacific)
· Rest of the World
North America held market held a dominating share of the global telecom billing software market in 2021. This high share is mainly attributed to the elevated demand from the telecom sector and the implementation of innovative technologies in the market. Moreover, the presence of major companies operating in the telecom billing sector in the region is another factor contributing to the growth of the regional market. Additionally, the growing adoption of advanced technologies such as IoT, 5G, analytics, and cloud computing is also contributing to the growth of the market in the region.
The major players targeting the market include
· Amdocs
· CSG Systems International, Inc.
· Oracle
· Telefonaktiebolaget LM Ericsson
· Huawei Technologies Co., Ltd.
· Cerillion Technologies Limited
· Comarch SA
· Nokia Oyj
· SAP SE
· Hewlett Packard Enterprise Development LP
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the Telecom Billing Software market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
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Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the telecom billing software market?
• Which factors are influencing the telecom billing software market over the forecast period?
• What are the global challenges, threats, and risks in the telecom billing Software market?
• Which factors are propelling and restraining the telecom billing software market?
• What are the demanding global regions of the telecom billing software market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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