The telecom billing and revenue management market in Asia Pacific was valued at US$ 6350. 5 million in 2019 and is projected to reach US$ 23007. 6 million by 2027; it is expected to grow at a CAGR of 18.
New York, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Asia Pacific Telecom Billing and Revenue Management Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Type ; Component ; Deployment Type ; and Country" - https://www.reportlinker.com/p05974342/?utm_source=GNW
3% from 2020 to 2027. Increasing mobile usage, substantial growth of telecom industry in the last decade, growing data consumption trend, increasing spending trends, demand for innovative solutions, and increasing need for IoT connections are the major factors propelling the growth of telecom billing and revenue management market across the region. Moreover, increasing demand for cloud-based solutions and services and inception of several trends and technology are anticipated to cater significant opportunities for the key players in the telecom billing and revenue management market. Various leading telecom billing solutions and services providers are collaborating and are developing new billing solutions which are compatible to leverage the SDN and NFV technologies. Telecom operators and CSP’s are also adding cloud-based platforms to their legacy network infrastructure and systems to enhance their compatibility to address the increasing subscriber base and for managing new revenue streams. The overall growth of data consumption in the last few years and evolution in the telecommunication technology (2G, 3G and 4G) are the prime factors providing plentiful opportunities for the growth of telecom billing and revenue management market.
The telecom billing and revenue management market is segmented into component, type, deployment type, and country.Based on component, the market is segmented into solution and services.
In 2019, the solution segment held a larger share of the telecom billing and revenue management market.Based on type, the telecom billing and revenue management market is divided into telecom billing, cloud billing, and IoT billing.
The IoT billing segment is expected to be the fastest growing segment during the forecast period.Based on deployment type, the telecom billing and revenue management market is segmented into on-premise, cloud, and hybrid.
The on-premise segment held the largest share of the market.
Various companies operating in the telecom billing and revenue management market are focused on adopting organic and inorganic growth strategies such as product launches, partnerships, and business expansions to sustain their position in the dynamic market.For instance, in 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 world.
The ongoing COVID-19 is anticipated to cause huge disruptions in the growth of various industries of Asia Pacific.For instance, China is the global hub of manufacturing and largest raw material supplier for various industries and it is one of the worst affected COVID-19 countries.
India is another country where cases are rising constantly and business activities are halted due to nationwide lockdown.The COVID-19 crisis had a positive impact on the growth of some sectors such as IT and telecommunications.
The demand for digital services especially has grown at a high rate in past few months.Nevertheless, the decrease in business activities such as partnerships to increase the adoption of telecom billing and revenue management solutions in various countries is anticipated to impact the telecom billing and revenue management provider’s expansion growth negatively.
Hence, there will be a mixed impact due to which the growth will drop a little in 2020 and 2021.
The Asia Pacific telecom billing and revenue management market size has been derived using 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 Asia Pacific telecom billing and revenue management market with respects to all the segments.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 participants who take part in such a 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 Asia Pacific telecom billing and revenue management market. Accenture PLC; Nokia Corporation; Amdocs, Inc.; Cerillion PLC; Comarch SA; CSG Systems International, Inc.; Fiserv, Inc.; Ericsson; Hewlett Packard Enterprise Development LP (HPE); Huawei Technologies Co., Ltd.; NEC Corporation; Oracle Corporation; Mphasis; Optiva Inc.; Mavenir Systems; SAP SE; Tata Consultancy Services Limited (TCS); Comviva; Enghouse Networks; PANAMAX INC; STL.TECH; and Vcare Corporation are the players operating in the Asia Pacific telecom billing and revenue management market.
Read the full report: https://www.reportlinker.com/p05974342/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: firstname.lastname@example.org US: (339)-368-6001 Intl: +1 339-368-6001