LONDON--(BUSINESS WIRE)--The global telecom billing outsourcing market is expected to post a CAGR of almost 6% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
The growing consumer demand for high-quality services is compelling telecom operators to offer multiple product catalogs, such as a combination of voice, data, and text. With the rise in the number of unique mobile subscribers, billing process management is becoming more challenging for telecommunication service providers. To overcome such challenges, telecom operators are increasingly outsourcing the billing process, which is driving the growth of the market.
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As per Technavio, the rising popularity of convergent billing will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Telecom Billing Outsourcing Market: Rising Popularity of Convergent Billing
Telecommunication companies are increasingly adopting convergent billing solutions to provide personalized offers and deals at attractive prices. It allows customers to avail multiple services at discounted prices under a unified billing system. It also allows telecom operators to provide centralized customer care and support for both prepaid and postpaid customers. Moreover, convergent billing helps telecom operators to attract new customers and encourages existing customers to add new services. The increasing popularity of convergent billing is expected to have a positive impact on the growth of the global telecom billing outsourcing market during the forecast period.
“Emergence of cloud-based billing services and the evolution of next-generation technologies will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Global Telecom Billing Outsourcing Market: Segmentation Analysis
This market report segments the global telecom billing outsourcing market by geography (APAC, Europe, MEA, North America, and South America) and customer type (wireless and fixed line).
The APAC region led the market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to maintain its dominance over the global market. This is due to a significant rise in the number of mobile and fixed line subscriber base in the region.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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