Dublin, Aug. 28, 2020 (GLOBE NEWSWIRE) -- The "Integrated Revenue and Customer Management (IRCM) for CSPs Market - Forecasts from 2020 to 2025" report has been added to ResearchAndMarkets.com's offering.
The Global Integrated Revenue and Customer Management (IRCM) for CSPs Market was valued at US$21.17 billion in 2019.
IRCM solutions are witnessing a continuous increase in demand from Communication Service Providers (CSPs) across the globe since these off-the-shelf software packages align perfectly with their need for solutions that can efficiently address critical revenue and customer management business processes for them.
The demand for these solutions is majorly being driven by the rising focus of industry players on improving operational efficiency. Increasing popularity and adoption of agile and scalable solutions in this sector clearly shows the focus of industry players on cost reduction.
Continuously increasing adoption of software-defined networks, on account of lower capital and operating expenses associated with their use as compared to the use of legacy networks, is an example of how focused are industry players on improving margins. Growing popularity and adoption of cloud-based services is also driving with it the demand for flexible data networks which can provide automatic traffic management, bandwidth flexibility, and scalable storage to the carriers to enable them to deliver a wider range of cloud-based services to a larger customer base at affordable prices.
The service providers are moving towards new data center infrastructure that can provide a dynamic and scalable cloud environment to the users. For instance, Emirates Integrated Telecommunications Company, a Dubai-based integrated telecommunications service provider, is using Cisco's Application Centric Infrastructure (ACI) and Cisco Nexus 9000 Series Switches which for its next-generation data centers which have significantly reduced the time to market for new cloud-based services.
Growing competition across the ICT sector has been increasing the adoption of agile solutions which can enable the vendors to quickly respond to evolving market changes, thereby preventing losing their customers to their rivals. Continuously growing customer base is increasing the need among the telecom market players to deploy advanced solutions that can efficiently monitor and manage key operations while preserving and improving their margins. This is increasing the demand for IRCM among them, thus boosting the market growth.
The demand for these solutions is also being driven directly by increasing penetration of cloud into the communication and technology industry. A high ease of deploying these solutions on cloud, and impressive cost benefits this model returns to them, is fuelling their shift towards the cloud.
The report estimates the market for cloud storage in the communication and technology industry to grow at an impressive CAGR of 29.32% between 2017 and 2023. The cloud storage market in this sector was valued at US$4.564 billion in 2017 and is expected to be worth US$21.347 billion in 2023. Although many CIOs are still reluctant towards making the leap to the cloud, owing to huge risks associated with data loss and business continuity while running key functions in the cloud, adoption of IRCM solutions among them, and its deployment in the cloud is gaining traction in many regions, thus augmenting the market growth.
North America and Europe Account for a Significant Market Share
Geographically, the Integrated Revenue and Customer Management (IRCM) for the CSPs market has been segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. To give a clearer view of the market, the regional markets have been further segmented into countries that account for a significant market share.
North America and Europe together accounted for a significantly large market share in 2019 on account of the booming communication and technology sector across these regions. These regions tend to be the early adopters of new solutions and technologies, and the availability of favorable infrastructure for the adoption of IRCM in these regions is driving its adoption among customers, thus augmenting the market growth.
The Asia Pacific Integrated Revenue and Customer Management (IRCM) for CSPs Market is poised to witness rapid growth over the forecast period. The market growth in this region will majorly be driven by continuous pumping of huge investments by global players across this industry into this region. The rapid growth of the ICT sector, on account of the presence of a huge population with still no access to many services this sector offers, will continue to support the Integrated Revenue and Customer Management (IRCM) for CSPs Market growth.
Other regions like the Middle East and Africa and South America held a relatively small share in this market in 2019. However, good market growth is expected in these regions as well over the forecast period. Increasing investments in the communication and technology industry in these regions, and the availability of a fair number of vendors across countries, are expected to be key market growth drivers.
Competitive Insights
Prominent key market players in the global Integrated Revenue and Customer Management (IRCM) for CSPs Market include TECNOTREE Corp., Netcracker, AMDOCS, Telefonaktiebolaget LM Ericsson, SAP, Huawei Technologies Co., Ltd., and Comviva. These companies hold a noteworthy share in the market on account of their good brand image and product offerings. Major players in the Integrated Revenue and Customer Management (IRCM) for CSPs Market have been covered along with their relative competitive position and strategies. The report also mentions recent deals and investments of different market players over the last two years.
Key Topics Covered
1. Introduction
1.1. Market Definition
1.2. Market Segmentation
2. Research Methodology
2.1. Research Data
2.2. Assumptions
3. Executive Summary
3.1. Research Highlights
4. Market Dynamics
4.1. Market Drivers
4.2. Market Restraints
4.3. Porters Five Forces Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Life Cycle Analysis - Regional Snapshot
5. Integrated Revenue and Customer Management (IRCM) for CSPs Market Analysis, By Deployment Model
5.1. Introduction
5.2. On-Premise
5.3. Cloud
6. Integrated Revenue and Customer Management (IRCM) for CSPs Market Analysis, By Enterprise Size
6.1. Introduction
6.2. Small
6.3. Medium
6.4. Large
7. Integrated Revenue and Customer Management (IRCM) for CSPs Market Analysis, By Geography
7.1. Introduction
7.2. North America
7.3. South America
7.4. Europe
7.5. Middle East & Africa
7.6. Asia-Pacific
8. Competitive Environment and Analysis
8.1. Major Players and Strategy Analysis
8.2. Emerging Players and Market Lucrativeness
8.3. Mergers, Acquisitions, Agreements, and Collaborations
8.4. Vendor Competitiveness Matrix
9. Company Profiles
9.1. TECNOTREE Corp.
9.2. Netcracker
9.3. AMDOCS
9.4. Telefonaktiebolaget LM Ericsson
9.5. SAP
9.6. Huawei Technologies Co. Ltd.
9.7. Comviva
For more information about this report visit https://www.researchandmarkets.com/r/uh7urx
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