Dublin, Feb. 11, 2021 (GLOBE NEWSWIRE) -- The "North America Telecom Billing and Revenue Management Market Forecast to 2027 - COVID-19 Impact and Regional Analysis - by Type (Telecom Billing, Cloud Billing, and IoT Billing); Component (Solution and Services); Deployment Type (Cloud, On-premise, and Hybrid); and Country" report has been added to ResearchAndMarkets.com's offering.
The telecom billing and revenue management market in North America was valued US$ 4250.9 million in 2019 and is projected to reach US$ 12394.0 million by 2027; it is expected to grow at a CAGR of 15.0% from 2020 to 2027.
The major factors that are propelling the growth of telecom billing and revenue management market are, significant growth of telecom industry and increasing data consumption trend, rising number of IoT connections, and demand for innovative billing and revenue management solutions and services.
The foremost factors driving the telecom billing and revenue management market are the increasing necessity for improved connectivity solutions to connect smart devices and growing demand from telecom and smart equipment manufacturer to monetize and handle the smart equipment via connectivity and networks. The IoT industry has opened up lots of opportunities for the telecommunication industry. According to the GSMA report, it is estimated that 25 billion Internet of Things devices would be connected by 2025.
The IoT revenue typically generates from wearable and automotive innovations, with the introduction of 5G, telecom operators would install increased speed and efficiencies, to leverage IoT capabilities for more connected service offerings. Thus, various B2B companies would need to offer billing solutions for multiple services such as smart home monitoring and wireless data.
With this increased complexity, the business would need a powerful tool to support such revenue models, such as the IoT telecom billing solution. Hence, due to the rising number of IoT connections, the demand for IoT based telecom billing and revenue billing management solutions would increase, which further helps in driving the telecom billing and revenue management market.
Based on deployment type, the telecom billing and revenue management market has been segmented into cloud, on-premises, and hybrid. The adoption of cloud-based deployment of the telecom billing and revenue management market is expected to grow at a significant rate during the forecast period. The companies that are planning to make significant investments in telecom billing and revenue management market might opt for modern platforms by rapidly adopting cloud-based solutions.
Numerous organizations in various regions are adopting cloud-based telecom billing and revenue management solutions due to reliability and low cost. It also reduces the requirements for IT infrastructure and physical storage, thereby assisting in significant savings. The cloud-based solutions also offer flexibility to operations, which is another factor boosting their adoption.
The huge adoption of cloud-based technologies is mainly driven by the presence of cloud providers, which are offering affordable and free subscription-based models with quick setup. Further, the growing digital revolution across the globe is fueling the adoption of cloud-based deployment in telecom industry. Owing to all these factors, the adoption of cloud-based deployment of the telecom billing and revenue management is expected to grow at a significant rate during the forecast period.
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Key Takeaways
4. Telecom Billing and Revenue Management Market Landscape
4.1 Market Overview
4.2 Porter's Five Forces Analysis
4.3 Ecosystem Analysis
4.4 Expert Opinion
5. Telecom Billing and Revenue Management Market - Key Market Dynamics
5.1 Key Market Drivers
5.1.1 Constant Urge and Requirements for Innovative Billing and Revenue Management Solutions and Services
5.1.2 Significant Growth of Telecom Industry and Increasing Data Consumption Trend
5.1.3 Rising Number of IoT Connections
5.2 Key Market Restraints
5.2.1 High Initial Capital Expenses and Investments
5.3 Key Market Opportunities
5.3.1 Rising Preference towards Cloud-Based Solutions and Services
5.3.2 Emergence of Various Technologies and Trends
5.4 Future Trends
5.4.1 Increasing Digital Ecosystems
5.5 Impact Analysis of Drivers and Restraints
6. Telecom Billing and Revenue Management Market - North America Analysis
6.1 Telecom Billing and Revenue Management Market Overview
6.2 Telecom Billing and Revenue Management Market - Revenue and Forecast to 2027 (US$ Million)
6.3 Market Positioning- Top Five Players
7. Telecom Billing and Revenue Management Market Analysis - By Component
7.1 Overview
7.2 Telecom Billing and Revenue Management Market Breakdown, by Component, 2019 & 2027
7.3 Solution
7.3.1 Overview
7.3.2 Solution Market Revenue and Forecast to 2027 (US$ Million)
7.3.2.1 Billing Management
7.3.2.2 Billing Management Market Revenue and Forecast to 2027 (US$ Million)
7.3.2.3 Account Management
7.3.2.4 Account Management Market Revenue and Forecast to 2027 (US$ Million)
7.4 Services
7.4.1 Overview
7.4.2 Services Market Revenue and Forecast to 2027 (US$ Million)
7.4.2.1 Professional Services
7.4.2.2 Professional Services Market Revenue and Forecasts to 2027 (US$ Million)
7.4.2.3 Managed Services
7.4.2.4 Managed Services Market Revenue and Forecasts to 2027 (US$ Million)
8. Telecom Billing and Revenue Management Market Revenue and Forecast to 2027 - Type
8.1 Overview
8.2 North America Telecom Billing and Revenue Management Market Breakdown, By Type, 2019 & 2027
8.3 Telecom billing
8.4 Cloud Billing
8.5 IoT Billing
9. Telecom Billing and Revenue Management Market Revenue and Forecast to 2027 - Deployment Type
9.1 Overview
9.2 North America Telecom Billing and Revenue Management Market Breakdown, By Deployment Type, 2019 & 2027
9.3 On-Premise
9.4 Cloud-Based
9.5 Hybrid
10. Telecom Billing and Revenue Management Market - Country Analysis
11. Impact of COVID-19 Pandemic on Telecom Billing and Revenue Management Market
12. Telecom Billing and Revenue Management Market - Industry Landscape
12.1 Market Initiative
12.2 New Product Development
12.3 Merger and Acquisition
13. Company Profiles
- Accenture PLC
- Nokia Corporation
- Amdocs, Inc.
- Cerillion PLC
- Comarch SA
- CSG Systems International, Inc.
- GoTransverse International, Inc.
- Ericsson
- Hewlett Packard Enterprise Development LP (HPE)
- Huawei Technologies Co., Ltd.
- NEC Corporation
- Oracle Corporation
- Optiva Inc.
- Mavenir Systems
- SAP SE
- Tata Consultancy Services Limited (TCS)
- AGILITY CIS
- Comviva
- Enghouse Networks
- PANAMAX INC
- STL.TECH
- Vcare Corporation
For more information about this report visit https://www.researchandmarkets.com/r/yu8h8a