Telecom Cloud Billing analysis research and trends report for 2017-2024: Global Market Insights Inc.
Statistics of Telecom Cloud Billing Market covering market size, industry share numbers, regional outlook, competitive landscape with data about leading companies is now available in the latest report by Global Market Insights, Inc. Telecom Cloud Billing Market size is anticipated to witness several growth opportunities over the forecast time span owing to the growing demand for bundled billing solutions, low billing costs, and rise in mobile infiltration. The major share in the industry is led by prepaid customers with over 80% of the GSM users utilizing the cloud billing systems across the globe. The rising focus of telecom providers to offer multiple & bundled services due to the rising demand across the prepaid customer segment is further anticipated to drive the telecom cloud billing market growth. Rising competition in the industry has encouraged the operators to offer several Value-Added Services (VAS) such as prepaid, postpaid, data, voice, Internet Protocol Television (IPTV), and Voice Over Internet Protocol (VOIP) with various payment methods.
The growing demand for the upgrading of a large number of legacy telecom systems formerly installed is offering ample growth opportunities for telecom cloud billing market. Furthermore, operators are shifting toward online billing transactions for the development of bills and expense receipts, which is anticipated to propel the industry demand over the forecast time span. The rise in the usage of data services offered by telecom providers has created a strong need for billing systems. Rising growth in Operation Support Systems’ (OSS) and Business Support Systems’ (BSS) solutions, is helping in supporting a large customer base for online billing transactions. In the exceedingly competitive telecom industry, the quality of service and cost of products are key factors for high business returns and customer retention. The competition is also driving the industry players to embrace telecom billing software thereby impacting telecom cloud billing market growth. Moreover, players are always trying to seek ways for lowering administration and operational costs. Over the years, advancements in cloud computing have helped the telecom industry in addressing the service quality and cost-related issues, which were strengthened owing to the shift toward IP-based mobile technology from landline telephones. With the growing adoption of subscription-based billing models, the telecom industry is gradually favoring cloud billing solutions for highly flexible, cost competitive, and reliable billing
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