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Telecom Billing Outsourcing Comprehensive Market By customer type (wireless and fixed line); By deployment (on-premise and cloud); By telecom operator (mobile operator and internet service provider) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Telecom Billing Outsourcing Comprehensive Market to surpass USD 34.9 billion by 2030, which is valued at USD 16.4 billion in 2021 at a compound annual growth rate of 8.8%.
Telecom billing is designed for maintaining a telecommunications billing process that comprises collection, usage, aggregation, modification, and at last invoice generation for the end-users. The telecom billing process also includes receiving and recording payments from the consumers. With the rise in the number of cybercrimes and attacks, the need for cyber protection has increased significantly. The introduction of digitalization has forced industries to rely on digital information and the internet of things, which is going to increase the growth of the telecom billing outsourcing comprehensive market.
Telecom Billing Outsourcing Comprehensive Market is expected to project a CAGR of 8.8% during the forecast period, 2021-2030
Increased demand for cloud-based cyber security services and a rise in the number of internet of thing devices in need of network security solutions are to increase the growth of the telecom billing outsourcing comprehensive market. The rise in cyber-attack incidents, increased demand for mobility of enterprises, and expansion of the global industrial cyber security market are also expected to drive the market growth.
Telecom billing outsourcing Comprehensive Market: SegmentsBy customer type
it can be classified into wireless and fixed-line. The wireless type dominated the segment due to its high usage in the e-commerce market and high mobility and convenience factors.
By deployment
it can be segmented into on-premise and cloud. On-premises or customer premises solution to hold the largest CAGR during the forecast period owing to its high demand, popularity, and traditional approach. The reusable infrastructure option also acts as a dominating factor in the segment.
By telecom operator
it can be classified into mobile operator and internet service provider. The internet service provider ( ISP ) holds the highest CAGR in the market due to the high usage of data and networking services around the world.
Rising cyber-attacks to drive the Telecom billing outsourcing Comprehensive Market
Reduction in operation costs along with increased usage of internet of things in cloud solutions in industries to increase the growth of telecom billing outsourcing comprehensive market. The rise in cyber-attack incidents, increased demand for mobility of enterprises, and expansion of the global industrial cyber security market are also expected to drive the market growth.
Cyber security risks and shortage of IT resources
Data loss and cybersecurity risks can hamper the growth of the Telecom billing outsourcing Comprehensive Market. Shortage of IT resources can also act as a restraint in the telecom billing market.
North America registers the highest growth in the regional segment due to the increased adoption of mobile users and the rise in LTE and VoLTE users. With the growth of digitalization in economies such as India and China and increased investment in the telecom sector with rising in the number of mobile and fixed-line operators, the APAC region is also likely to show significant growth.
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