The communication service provides (CSPs) the necessity to implement convergent billing solutions in order to improve overall profit and efficiency. The real-time integrated service that provides a combined bill for every service user is known as a convergent billing solution. CSPs break all the barriers of the billing systems and vertical charging and provides quick services and decision making. The convergent billing solutions provide flawless transfer of data to the user and other devices by spectrum, and it spreads its service procedures to its end users.
MARKET SCOPE
The "Global Convergent Billing Market Analysis to 2028" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the convergent billing market with detailed market segmentation by component, deployment, and geography. The report provides key statistics on the market status of the leading convergent billing market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on component, the global convergent billing market is segmented into solution and service.
- On the basis of deployment, the market is segmented into cloud and on-premise.
MARKET DYNAMICS
Drivers:
- The constantly increasing telecommunication sector across the world is the major factor driving the growth of the global convergent billing market.
- The convergent billing market provides a single application with multiple domains, which is one of the factors driving the global market.
- The advent of the wireless subscription market and the adoption of smart devices is anticipated to contribute to the convergent billing market growth.
Restraints:
- Data privacy and security concerns may hinder the growth of the convergent billing market.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The convergent billing market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the convergent billing market in these regions.
IMPACT OF COVID-19 ON CONVERGENT BILLING MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.
MARKET PLAYERS
The report covers key developments in the convergent billing market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from convergent billing market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the convergent billing market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- AMDOCS
- ALEPO
- CSG International
- Telefonaktiebolaget LM Ericsson
- Huawei Technologies Co., Ltd.
- ALE International, ALE USA Inc.
- Nexign, JSC,
- Optiva, Inc
- SAP SE
- stl.tech