Market Size of Telecom Billing Revenue Management Industry
|2019 - 2029
|Market Size (2024)
|USD 14.21 Billion
|Market Size (2029)
|USD 22.31 Billion
|CAGR (2024 - 2029)
|Fastest Growing Market
*Disclaimer: Major Players sorted in no particular order
Need a report that reflects how COVID-19 has impacted this market and its growth?
Telecom Billing and Revenue Management Market Analysis
The Telecom Billing Revenue Management Market size is estimated at USD 14.21 billion in 2024, and is expected to reach USD 22.31 billion by 2029, growing at a CAGR of 9.43% during the forecast period (2024-2029).
Communication Service Providers (CSP) worldwide are experiencing increased subscribers, causing significant issues, including network congestion and call drops. To curb these issues, users have started to demand that CSPs deploy efficient and effective billing and revenue management systems.
- The process of managing telecom billing and revenue includes the management of debt collection as well as communication services. The procedure involves calculating billing and charging information, managing the customer's payments and invoices, and providing information on data utilization. By optimizing the telecom networks, these solutions are frequently employed by telecommunication and digital service providers to increase operational efficiency.
- In the last decade, the global telecom market has changed dramatically, from the rise of cloud-native businesses that interact with customers via the Internet to the rapid migration of content, applications, and services to the cloud. CSP providers have spent billions upgrading their networks to meet the demand. However, many CSPs continue to operate with traditional business support systems that need more modern revenue management capabilities. Therefore, many CSPs worldwide are adopting current billing and revenue management systems.
- Telecom billing and revenue management platform solutions enable telecom service providers to launch the latest services in the market and help leverage their customer relationships. and develop a sense of harmony between the service providers and end-users. Also, the emergence of software-as-a-service (SaaS) platforms further leverages market growth.
- Vendors in the telecom industry use these software solutions to help detect and manage anomalies in the spectrum and eventually decrease operational costs. Also, these tech-enabled programs further assist the CSPs in increasing their revenue by rectifying problems and deploying new measures to optimize network service and visibility.
- Further, in the current market scenario, CSPs require real-time billing and policy control capabilities to help seize and monetize all IP 5G opportunities, including new use cases, devices, business models, and partnerships. With the growing complexity of managing diverse partners, challenges such as efficiently managing partners, including interconnect, wholesale, OTT/content players, distributors, interconnect, MVNOs, and agents, among others.
- Additionally, with the digital economy accelerating consumption, traditional billing systems can only keep up with a lack of on-demand design or customization. With the new generation of billing systems, build on agile principles in terms of services and products through a flexible business rule engine. The business script helps CSP reduce the time-to-market (TTM) from months to hours. thereby driving demand among the end-users.
- The recent outbreak of the COVID-19 pandemic resulted in a shift in company policies towards work-from-home policies. This remote work from home increased the data consumption of the telecom towers. For instance, two Indian telecom operators reported substantial revenue and earnings before interest, taxes, depreciation, and amortization (EBITDA) growth in the three months ending June (Q1 FY2021) due to tariff growth and higher data usage, defying the economic slowdown from the countrywide lockdown of 68 days up to May-end. The increasing number of devices using the Internet for work from home through mobile phones resulted in an increase in data usage. This increased the demand for telecom billing and revenue management.