Telecom Cloud Billing Market worth 8.22 Billion USD by 2021

According to a new market research report Telecom Cloud Billing Market by Type of Billing (Convergent, Prepaid, Post-paid, Interconnect), Cloud Platform, Deployment, End User, Service, Rate of Charging Mode, and Region – Global Forecast to 2021″, published by MarketsandMarkets™, the telecom cloud billing market size is estimated to grow from USD 2.49 Billion in 2016 to USD 8.22 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.0% from 2016 to 2021.

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Lower operational & administration costs, advancement & increase in adoption of cloud-based technologies, increasing mobile penetration and high subscriber growth, need for real-time billing, and increased demand for bundled services are some of the driving forces in the telecom cloud billing market.

Convergent billing software segment is expected to play a key role in the telecom cloud billing market by 2021

The convergent billing is expected to hold the largest market share among the telecom cloud billing software during the forecast period. Its market share is expected to grow because telecom operators are looking at providing combined offerings for their services. Telecom operators offer different services such as voice, data, IPTV, VOIP, prepaid, and post-paid services with different payment models. The customers select one of above services from the operator. All of these offerings need to be served on a single system that can accommodate any line of business, any subscriber type, and any payment model.

Customer management application is expected to dominate the telecom cloud billing market by 2021

Among applications, the customer management application segment is expected to grow at the highest rate in the telecom cloud billing market during the forecast period. Customer management is the backbone of any business process. Customer management encompasses many functionalities such as customer-interface management, order management, product catalogue, customer service offering, subscriber self-care management, sales & marketing, rate plans and rating, discounting, invoicing, problem handling, auditing, and security. Customer management enables Cloud Service Providers (CSPs) to deliver a consistent user experience across the overall business system and to manage all aspects of their relationship with the customers.

Asia-Pacific (APAC) region is expected to grow at the highest CAGR in the telecom cloud billing market

APAC is expected to grow at the highest growth rate in the telecom cloud billing market during the forecast period. The large population in the region has led to an extensive pool of subscriber base for telecom companies. Factors such as rapid economic development, globalization and foreign direct investment, increasing penetration of smartphones, and rapid internet adoption among customers are driving the impressive growth in APAC.

The major vendors in the telecom cloud billing market are Amdocs (U.S.), Oracle Corporation (U.S.), CGI Group, Inc. (Canada), Ericsson (Sweden), Netcracker Technology (U.K.), Cerillion (U.K), AsiaInfo (China), Computer Science Corporation (U.S.), Redknee Solutions, Inc. (U.S.), Huawei Technologies (China), and Tech Mahindra (India).

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SOURCE satPRnews