Market Trends of Convergent Billing Industry
This section covers the major market trends shaping the Convergent Billing Market according to our research experts:
Cloud-Based Deployment is Expected to Spur Growth
- The Convergent Billing System has applied the micro-services architecture in the 5G billing field. It complies with the principles of stateless micro-services and separation of data and applications. The balanced design of micro-services enables flexibility and high performance at the same time. The benefit of stateless micro-services and data and application separation, all key applications of the CBS, is a distributed architecture. Multiple instances of a single service can be simultaneously deployed and access to any service instance is identical.
- The new generation of telecom operators is striving to launch and maintain differentiated service capabilities that combine a cloud-based model, communication service integration via API’s and mostly web-based self-care options, with relatively little actual communications infrastructure. Such trends and initiatives are expected to boost the deployment of convergent billing systems in the cloud.
- Billing and CRM integrator, product catalog, rating, invoicing, and bill formatting is being implemented using PaaS because these applications do not require end-user intervention and possess asynchronous background processing capabilities. A cloud-native BSS on the public cloud infrastructure offers maximum benefits at the lowest costs. They provide tools that are vital for increasing and retaining customer base.
- In March 2020, Cloudera Data Platform (CDP) was made available on Microsoft Azure Marketplace – so joint customers can easily deploy the world’s first enterprise data cloud on Microsoft Azure. Additionally, by procuring CDP through the Azure Marketplace, these customers can leverage integrated billing i.e. the cost of CDP will be part of a single Azure bill making procurement simple and friction-free.
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North America Expected to Dominate the Market
- The North American region is expected to dominate the Convergent Billing Market owing to its dominance in the technology landscape. The technological landscape is radically changing in various industries due to which there has been an increased demand for connected devices.
- Amdocs RevenueONE is a cloud-native, open agile solution for monetising 5G services, IoT and smart spaces, the digital ecosystem and the subscription economy. It includes the 5G-ready convergent charging, with network slicing support, service-based interfaces and a distributed architecture. RevenueONE provides omni-convergent charging for all consumer and enterprise business models and IoT.
- Beesion, a low-code telecom software provider, announced the go-live of a major BSS transformation program at a multi-network service provider in Panama, a subsidiary of one of the largest telecommunication companies in the world with a dominating presence across the Americas.
- Customer Realtionship management is also gaining pace in the region. This is driven by the increasing digitalization of enterprises across the industry verticals and penetration of cloud technology and various service models.
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