London, 16 July 2015: Technavio, the independent tech-focused global research firm, has published a report on the global telecom billing outsourcing market 2015-2019, which is expected to grow at a CAGR of 6% during the forecast period of 2014-2019.
Rapid and steady growth of the telecommunications industry is a critical factor that augments the prospects of growth in this market. Rapid growth stems from the increasing penetration of smartphones, which has resulted in the increase in subscribers from across the globe. In recent years, the demand for improved billing solutions among telecom operators and service providers has increased. Many telecom vendors have started to outsource their billing systems for cost-effective aspects and also to focus on core business processes.
“The telecom sector is one of the major end-users of customer care and billing (CCB) systems. CCB acts as an intermediary between the service provider and the customer. The demand for improved billing operations and supporting customers with an improved service is another major factor that has a positive impact on the growth of this market,” says Faisal Ghaus, Vice President of Technavio.
“CCB systems help telecom providers to offer cost-effective, flexible, scalable, and easy to deploy billing solutions. These systems provide end-to-end CCB applications, which include collections management, multiple payment processing, real-time order creation and credit collections, and dynamic invoice generation.”
Key Market Drivers:
- Rapid Growth in Telecommunications Industry and Number of Subscribers.
- Increased Need to Improve Customer Satisfaction.
- Increased Need for Better Revenue Management.
- Complications in Integration of OSS-BSS Software with Existing Billing Systems.
- Reduced Spending on Consumer Billing Management Software.
Key Market Trends:
- Increased Outsourcing of Telecom Billing Management Services by SMEs.
- Emergence of Customer Care and Billing Systems.
- Automation of Billing Management Tools.
- Emergence of Cloud-based Billing Services.
- Increase in M&A.
- Real-time and Convergent Billing Processes.
Key Market Vendors:
- Alcatel-Lucent
- Amdocs
- Convergys
- Ericsson
- Fujitsu
- IBM
- TCS
- WNS
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
https://www.technavio.com/%3Cp%3EIf%20you%20are%20interested%20in%20more%…
