The Telecom Cloud Billing Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Telecom Cloud Billing Global Market Report 2024, 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.
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.
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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
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 report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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