LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global order management market in the telecom sector to grow at a CAGR of over 10% during the period 2018-2022, according to their latest report.
This market research report segments the global order management market in the telecom sector based on type (software and services) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
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In this report, Technavio analysts highlight the convenience and easy accessibility of mobile payment systems as a key factor contributing to the growth of the global order management market in the telecom sector:
Convenience and easy accessibility of mobile payment systems
Mobile commerce simplifies banking, commercial transactions, and bill payments through the mobile application. It has been considered an appropriate solution to provide banking services in areas where such services and other traditional payment methods are not available. With a view to extending payment services to remote areas, governments around the world are investing heavily in financial institutions to motivate them to extend their services in rural areas. Mobile commerce payment is one of the feasible solutions, which can address this need. Therefore, such initiatives have led to an increase in the adoption of these services in the unbanked population across the globe. This is contributing to the growth of the global order management market in the telecom sector.
According to a senior analyst at Technavio for enterprise application, “The mobile commerce vendors are partnering with telecom service providers to offer payment services as a built-in function. Mobile phones that provide Internet connections can be used for billing of telecom orders regardless of the time or location. All these features including mobile banking with Internet features and the availability of smartphones are assisting telecom organizations to extend their services to rural areas, thereby boosting the adoption of order management solutions.”
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Global order management market in the telecom sector – segmentation analysis
The software segment dominated the market in the telecom sector in 2017, accounting for a share of approximately 79%. However, it is expected to witness a decline in its market share during the forecast period.
In 2017, the Americas accounted for close to 45% of the total market share. The dominance of the region is mainly because of the overall maturity and growth of the telecom sector as well as the presence of the world’s top telecom players in this region.
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