The telecom billing and revenue management market in Europe was valued US$ 4918. 5 million in 2019 and is projected to reach US$ 13806. 0 million by 2027; it is expected to grow at a CAGR of 14. 6% from 2020 to 2027.
New York, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Europe 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/p05974378/?utm_source=GNW
The major factors that are propelling the growth of telecom billing and revenue management market are increasing number of IoT connections, increase in number of internet users, growth of telecom industry, demand for innovative billing and revenue management solutions and services.Efficient and flexible billing and revenue management solutions help the CSP’s to monetize the data and service usage, providing company with improved real-time data analytical capabilities and efficiency to channelize their revenue streams by further providing customized solutions.
It also helps CSPs to efficiently manage the subscriber’s billing and charging processes through an effective single platform.Further, it helps companies and provides them the confidence to roll out new customized offers, revenue-generating services, and charging policies in a short period with improved efficiency, and also to monetize their infrastructural investments while enhancing customer and revenue management.
The CSP’s are continually upgrading their legacy systems by adding platforms that will help in servicing enhanced subscriber base and migrating towards cloud-based solutions and services such as SaaS, which will help them to minimize the CAPEX while optimizing OPEX. Additionally, increasing spending trends and requirements on solutions such as BSS/OSS is also accelerating the growth of competitive telecom billing and revenue management market.
The market for 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.Further, 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.
Due to COVID-19 outbreak, Spain, Italy, Germany, UK, and France are some of the worst affected member states in the European region.Businesses in the region are facing severe economic difficulties as they either had to suspend their operations or reduce their activities in a substantial manner.
The region is a major manufacturing and industrial hub for sectors such as construction sector.Hence, due to business lockdowns, travel bans, and supply chain disruptions, the region is anticipated to an economic slowdown in 2020 and most likely in 2021 also.
Business activities across various have seen a sharp decline in past few months, which is anticipated to impact the growth of companies operating in the telecom billing and revenue management market also. The overall impact of COVID-19 in European telecom billing and revenue management market is anticipated to be low to moderate.
The Europe 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 Europe 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 Europe 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 and STL.TECH are among the players operating in the Europe telecom billing and revenue management market.
Read the full report: https://www.reportlinker.com/p05974378/?utm_source=GNW
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