DUBLIN--(BUSINESS WIRE)--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$ 4,250.9 million in 2019 and is projected to reach US$ 12,394 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.
Presently, the US is the world's worst affected country due to COVID-19 outbreak with more than 2,537,636 confirmed cases and more than 126,203 deaths as per the WHO. Business activities and financial transactions have declined sharply in past few months and business initiatives such as partnerships, collaborations, mergers & acquisitions planned for 2020 are expected to be delayed.
These factors are expected to impact the growth plan for existing telecom billing and revenue management companies and also affect the entry of new players in this market. However, the overall impact will be low to moderate owing to increase in digital services of telecom billing and revenue management.
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; and Vcare Corporation are the major players operating in the North America telecom billing and revenue management market.
Key Topics Covered
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
7.2 Telecom Billing and Revenue Management Market Breakdown, by Component, 2019 & 2027
8. Telecom Billing and Revenue Management Market Revenue and Forecast to 2027 - Type
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
9.2 North America Telecom Billing and Revenue Management Market Breakdown, By Deployment Type, 2019 & 2027
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 Initiatives
12.2 New Product Developments
12.3 Mergers and Acquisitions
13. Company Profiles
13.1 Accenture PLC
13.2 Nokia Corporation
13.3 Amdocs, Inc.
13.4 Cerillion PLC
13.5 Comarch SA
13.6 CSG Systems International, Inc.
13.7 GoTransverse International, Inc.
13.9 Hewlett Packard Enterprise Development L.P. (HPE)
13.10 Huawei Technologies Co. Ltd.
13.11 NEC corporation
13.12 Oracle Corporation
13.13 Optiva Inc.
13.14 Mavenir Systems
13.15 SAP SE
13.16 Tata Consultancy Services Limited (TCS)
13.17 AGILITY CIS
13.19 Enghouse Networks
13.20 Panamax Inc.
13.22 Vcare corporation
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