The global telecom billing outsourcing market has the potential to grow by USD 6.75 billion during 2020-2024. The growth momentum will accelerate throughout the forecast period, and the market will grow at a CAGR of almost 6%.
Rapid growth in mobile subscribers and the rising popularity of convergent billing are some of the major factors driving market growth. The US, China, and Japan are currently the significant markets for telecom billing outsourcing.
Telecom Billing Outsourcing Market Report - Key Insights
Scope of this Report
The report provides a detailed analysis of the market by customer type and geography. Also, the telecom billing outsourcing market analysis report analyzes the market’s competitive landscape and offers information on several market vendors.
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Market Segmentation
Telecom Billing Outsourcing Market by Customer Type
- Wireless
- Fixed line
Telecom Billing Outsourcing Market by Region
- APAC
- Europe
- MEA
- North America
- South America
Market Competitive Analysis
The telecom billing outsourcing market is concentrated, and the degree of concentration will remain the same during the forecast period. To increase their market presence, vendors are focusing on forming strategic partnerships with telecommunication service providers. Accenture Plc, Amdocs Ltd., and Cerillion Plc are some of the major market participants. Though the accelerating growth momentum will offer immense growth opportunities, the availability of open-source telecom billing solutions will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The telecom billing outsourcing market forecast report provides information on the production, sustainability, and prospects of several companies, including:
- Accenture Plc
- Amdocs Ltd.
- Cerillion Plc
- Comarch SA
- Huawei Investment & Holding Co. Ltd.
- MIND C.T.I. Ltd.
- Sterlite Technologies Ltd.
- Tata Consultancy Services Ltd.
- Telefonaktiebolaget LM Ericsson
- WNS Holdings Ltd.
Telecom Billing Outsourcing Market: Key Drivers and Trends
The adoption of IoT devices, the growing use of social networking sites, the popularity of e-commerce, and the implementation of automation across end-user industries has led to the rise in mobile data traffic. This is subsequently fueling the growth of the telecommunication industry. The growing demand for high quality services is driving telecommunication service providers to offer multiple product catalogs, such as the combination of voice, data, and text. Considering the increase in number of unique mobile subscribers, telecom service providers have started outsourcing their billing process. The rise in mobile data traffic will be one of the major factors driving market growth over the forecast period.
- The increasing customer demand for receiving a single invoice and a unified view of services opted is inducing companies to adopt convergent billing systems.
- Converged telecom billing solutions are used as a single interface by service providers to manage billing for multiple services.
- The growing importance of using convergent billing solutions will induce telecommunication billing outsourcing service providers to implement concurrent billing systems by turning a single invoice into a combination of customer charges.
- The growing popularity of convergent billing systems will be one of the critical telecom billing outsourcing market trends that will influence market growth over the forecast period.
- As a result, the market will register a CAGR of almost 6% during 2020-2024.
Telecom Billing Outsourcing Market: Segmentation by Region
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APAC is a significant market for telecom billing outsourcing. The region is witnessing increased investments in the telecommunication tower market because of the rise in number of mobile and fixed-line subscriber base. Such developments in telecommunication network infrastructure will fuel the growth of the telecommunication industry. This will subsequently drive the growth of the telecom billing outsourcing market size.
During the forecast period, over 44% of the overall market growth will originate from APAC. Moreover, market growth in this region will be faster than the growth of the market in the other regions.
Telecom Billing Outsourcing Market: Segmentation by Customer Type
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The increasing investment in 4G/5G technologies to improve network communication infrastructure and the demand for high-quality service by end-users are driving the need for wireless communication services. They are highly preferred by telecommunication operators and mobile virtual network operators to reduce the capital-intensive nature of the telecom industry.
As a result, the market will witness steady growth in the wireless communication services segment during the forecast period. This report provides an accurate prediction of the contribution of various segments to the growth of the telecom billing outsourcing market.
Telecom Billing Outsourcing Market: Key Highlights of the Report
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will accelerate the growth of the market during the next five years
- Precise estimation of the global telecom billing outsourcing market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the telecom billing outsourcing industry across the APAC, Europe, MEA, North America, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of telecom billing outsourcing companies
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