Telecom Cloud Billing Market Size, Industry Share and Forecast, 2030

Telecom Cloud Billing Market

With a compound annual growth rate (CAGR) of around 23.96% between 2023 and 2030, the global telecom cloud billing market estimated to be worth around USD 8.21 billion in 2022, is expected to reach roughly USD 45.79 billion by 2030. Telecom billing is a systematic way of collecting and organizing information about how accounts, services, or telecom devices are utilized by specific people. A suitable telecom billing system was required due to the intricacy of mobile technologies. Generally, the goal of the cloud-based telecom billing platform is to boost operational effectiveness. In addition, it is adaptable and has the capacity to grow on demand to fulfill utilization processing requirements and guarantee a dependable experience.

Global Telecom Cloud Billing Market: Growth Factors

The market for telecom cloud billing is expanding significantly on a global scale. Some of the main drivers driving the growth of the worldwide telecom cloud billing market include the increasing use of cloud-based technology, the increase in mobile penetration, the decrease in administration and operational costs, and the increase in openness among cloud providers. The benefits of telecom cloud billing include both horizontal and vertical scalability, faster connectivity for charging and tracking new services, analytics for better decision-making, centralized storage with better convergence, and the ability of cloud-based billing for telecom to offer dynamic services. These benefits are driving enterprises to adopt telecom cloud billing procedures, which in turn is fostering the expansion of the global market.

In addition, the market is expanding due to the rising demand for bundled services, the growing requirement for real-time billing, and the growing trend of online transactions and billing among customers. Furthermore, there will be plenty of opportunity for the global market to develop throughout the projection period due to the rise in value-added services provided by operators, including voice over internet protocol (VoIP), internet protocol television (IPTV), voice, data, and many more. However, the use of outdated systems and stringent telecom laws could impede the worldwide telecom cloud billing market's expansion.

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The Covid-19 pandemic has demonstrated how crucial it is to have a functional telecommunications infrastructure in order to support governments, corporations, and society. Due to the Covid-19 pandemic's social and economic devastation, the majority of people worldwide rely on technology for information and work from home. The majority of telecom providers, including broadband, mobile, and data center operators, profit from the increase in voice and data traffic. The use of broadband services has increased as a result of stay-at-home orders and quarantine regulations, as more working people are depending on video conferencing to conduct meetings remotely. Demand has increased as a result of the pandemic's growth in the communication industry.

Global Telecom Cloud Billing Market: Segmentation

Based on the kind of billing, application, cloud platform, end-user, and geography, the worldwide telecom cloud billing market is divided into two segments. The global telecom cloud billing market is segmented into convergent, interconnect, prepaid, postpaid, roaming, and others segments based on the type of billing. Account management, revenue management, and client management comprise the application segment. The market is divided into three segments based on the cloud platform: platform, infrastructure, and software as a service. There are two categories within the end-user segment: people and enterprises.

Global Telecom Cloud Billing Market: Competitive Players

The major players operating in the global telecom cloud billing market are Redknee Solutions, Netcracker Technology, Oracle Corporation, Tech Mahindra, Amdocs, Huawei Technologies, Computer Science Corporation, Ericsson, CGI Group, Inc., and AsiaInfo, among others.

Global Telecom Cloud Billing Market: Regional Analysis

In terms of revenue collection, North America is expected to lead the worldwide telecom cloud billing industry. A huge number of telecom consumers, the telecommunications industry's widespread development, and the telecom industry's growing adoption of advanced digitalization are the main factors leading to its large market share. With so many smartphone users, growing internet usage, and improving telecommunications in densely populated emerging nations like China and India, Asia Pacific is predicted to grow at the fastest rate during the projection period.