The telecom cloud billing global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Telecom Cloud Billing Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The telecom cloud billing market size has grown exponentially in recent years. It will grow from $12 billion in 2023 to $15.2 billion in 2024 at a compound annual growth rate (CAGR) of 26.7%. The growth in the historic period can be attributed to increasing adoption of cloud-based billing, increasing penetration of smartphones, lower operational and administration costs, advancement and increase in the adoption of cloud-based technologies, increasing mobile penetration and the need for real-time billing.
The telecom cloud billing market size is expected to see exponential growth in the next few years. It will grow to $38.78 billion in 2028 at a compound annual growth rate (CAGR) of 26.37%. The growth in the forecast period can be attributed to growing demand for revenue management, competitive landscape analysis, increasing adoption of cloud-based billing, increased demand for bundled services. Major trends in the forecast period include advancement and increase in the adoption of cloud-based technologies, increasing mobile penetration and the need for real-time billing, rapid economic development.
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Scope Of Telecom Cloud Billing Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Telecom Cloud Billing Market Overview
Market Drivers –
The rising adoption of cloud computing is expected to propel the growth of the telecom cloud billing market going forward. Cloud computing is the delivery of computing services, including servers, storage, databases, networking, software, analytics, and intelligence, over the Internet to offer faster innovation, flexible resources, and economies of scale. Cloud computing provides telecom cloud billing with the ability to scale resources up or down as needed, allowing for flexibility in managing billing and provisioning demands, which is used by the telecom industry. For instance, according to 2022 State Of The Cloud report, a survey of 753 technical and business professionals, revealed that 89% of those that use the cloud use multi-cloud solutions for workloads and storage in 2022. Further, 2% use one private cloud solution, and 9% use one public cloud (up 1% from 2021). Therefore, the rising adoption of cloud computing is driving the growth of the telecom cloud billing market.
Market Trends –
Major companies operating in the telecom cloud billing market are developing innovative technologies, such as telecom data clouds, to better serve their customers. A telecom data cloud is a specific type of cloud-based platform designed for the management and utilization of data generated by telecommunications service providers (telcos). For instance, in February 2023, Snowflake Inc., a US-based cloud computing-based data cloud company, launched the Telecom Data Cloud, a fully managed platform designed to help telecommunications service providers monetize data and maximize operational efficiency, including the cloud services billing model. The Telecom data cloud aims to break down data silos, drive personalized data and application services, and deliver reduced time-to-value for customers. It unites Snowflake’s data platform, partner-delivered solutions, and industry-specific datasets, allowing organizations to easily access and share data in near real-time, build machine learning models, and make faster business decisions.
The telecom cloud billing market covered in this report is segmented –
1) By Type : Convergent, Prepaid, Postpaid, Interconnect, Roaming
2) By Service: Professional, Managed
3) By Application: Revenue Management, Account Management, Customer Management, Traffic Management, Billing and Provisioning
4) By End User: Transportation, Government, Media And Entertainment, Healthcare, Banking, Financial Services and Insurance (BFSI), Retail
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Regional Insights –
North America was the largest region in the telecom cloud billing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the telecom cloud billing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Verizon Communications Inc., Deutsche Telekom AG , AT&T Corporation, NTT Communications Corporation , Huawei Technologies Co. Ltd., Vodafone Group Plc, Oracle Corporation, SAP SE, Telefonaktiebolaget LM Ericsson, Salesforce Inc., BT Group plc, Tata Consultancy Services Limited, Infosys Limited, Lumen Technologies Inc., Telstra Corporation Ltd., DXC Technology Company , Wipro Ltd., CGI Inc., Computer Sciences Corporation , Tech Mahindra Ltd., Amdocs, Netcracker Technology Corp., AsiaInfo Technologies Limited, Redknee Inc., Optiva Inc., Cerillion Technologies Limited
Table of Contents
1. Executive Summary
2. Telecom Cloud Billing Market Report Structure
3. Telecom Cloud Billing Market Trends And Strategies
4. Telecom Cloud Billing Market – Macro Economic Scenario
5. Telecom Cloud Billing Market Size And Growth
…..
27. Telecom Cloud Billing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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