Telecom Billing and Revenue Management Market – Opportunities, Challenges, Strategies & Forecasts 2024
MarketsandMarkets expects the global telecom billing and revenue management Industry size to grow from USD 10.8 billion in 2019 to USD 18.0 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 10.8 % during the forecast period. Telecom billing and revenue management solutions and services help operators increase their revenues by extracting unbilled revenue, leveraging automation to identify revenue leaks, and safeguarding revenue streams from potential losses. The key telecom billing and revenue management solutions include mediation, billing and charging, partner and interconnect management, revenue assurance, and fraud management.
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Under the software segment, the billing and charging management segment is expected to grow at the highest CAGR during the forecast period. The billing and charging solution enables operators to support different lines of businesses on a single platform by aggregating data from numerous billing tools and generating a single invoice. The solution consolidates all the financial transactions associated with customer billing accounts over a certain period into a single bill. It helps service providers exchange billing data and invoices, and share revenue or cost information with partners, thereby empowering operators to maintain billing accuracy and improve customer experience by enabling the end-to-end management of disputes and adjustments.
Key and emerging market players include Amdocs (US), Netcracker (NEC Corporation [Japan]), CSG International (US), Oracle (US), Ericsson (Sweden), Huawei (China), Cerillion (UK), Mahindra Comviva (India), Optiva (Canada), Comarch S.A. (Poland), Nokia (Finland), SAP (Germany), HPE (US), Openet (Ireland), TEOCO (US), Intracom Telecom (Greece), Enghouse Networks (Canada), Nexign (Russia), Bearing Point (Netherlands), FTS (Israel), Subex (India), Sterlite Technologies (India), Tecnotree (Finland), Zuora (US), and Apttus (US).
Netcracker caters to a wide customer base in the regions of the Americas, EMEA, and APAC. The company offers a revenue management platform, which helps telecom operators and service providers transform their existing complex and siloed BSS into highly efficient ecosystems. The platform is compatible with advanced technologies and creates new revenue streams by enabling service providers to monetize, Long-Term Evolution (LTE)/ Voice over LTE (VoLTE), cloud-based, and virtualization services. It offers various revenue management products, such as a cloud-based online charging system, collection management, active mediation, converged charging and rating, customer billing management, partner billing management, voucher management, and bill presentment.
Nokia is one of the major players focusing on the emerging concept of telecom billing and revenue management and network management. The company operates in more than 130 countries across Europe, MEA, APAC, North America, Greater China, and Latin America. Nokia offers a telecom billing and revenue management solution called Monetization, along with SurePay. The Monetization solution helps operators provide a superior digital experience and enables its users to implement innovative business models and unlock new revenue opportunities. Nokia's Monetization portfolio includes Cognitive Analytics and Customer Insight, Data Refinery, Nokia AVA Crowd Analytics, and Smart Plan Suite. SurePay provides real-time rating and charging for any network and service type. It also helps fixed, mobile, and converged carriers offer prepaid, postpaid, and hybrid real-time charging for data, digital, commerce, cloud, and IoT services. SurePay can be integrated with billing and customer relationship management (CRM) systems to expand the existing billing ecosystem. SurePay helps service providers rapidly launch and manage innovative new offers.