According to a new market report published by Transparency Market Research entitled “Telecom Order Management Market [Deployment Type – On-premise, and Cloud based; Component – Solutions, and services (Consulting, Support Services, and Other)]:– Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 – 2025”. The global Telecom Order Management market was worth US$ 1,918.0 Mn in 2016 and is expected to reach US$ 4,057.6 Mn by 2025, expanding at a CAGR of 8.8% from 2017 to 2025. North America was holding the largest market share for telecom order management in 2016. The growing competition in telecom sector globally, growing inventory costs and stringent government regulations are expected to have a positive impact on the growth of global telecom order management market.
Telecom order management system is being used to streamline and automate order processing in the business. The order management processes tend to become very complex resulting in order fallout which in turn causes loss in sales and potential customers. Thus, the success of order management processes directly impact the revenues. As the customer expectations continue to rise, various service providers are providing voice, data, video, internet, content, gaming, location based services bundled with various number of devices in order to retain their customers. However this leads to huge order management complexity leading to growing demand of telecom order management systems.
Telecom order management market can be majorly divided into three segments, namely deployment type, component and geographical regions. On the basis of the deployment type the telecom order management market has been further segmented into two categories which are, On-premise and cloud based. The on premise segment is holding the largest market share in 2016 However, with the growth in connected devices, various telecom service providers are looking for cloud based solutions especially the small and medium enterprises. Less maintenance and low costs associated with the cloud based telecom order management solutions is helping in the growth of this segment globally.
On the basis of the component segment the telecom order management market has been divided into solution and services. The solution segment is expected to have the highest market revenue share of 67.7% by 2025. The services segment is expected to grow at the highest CAGR during the forecast period. Also, among the services segment, the consulting segment continues to hold the largest market share during the forecast period. Furthermore, various government bodies are practicing stringent policies for increased security measures.
On the basis of geographies, the telecom order management market has been divided into North America, South America, Europe, Asia Pacific and Middle East and Africa. North America is expected to hold the highest market share of 37.8% in 2025, followed by Europe. The growth of telecom order management in North America region is owing to increasing demand for customer retention, shrinking revenues and extremely competitive space. Furthermore, Asia Pacific is expected to have the highest CAGR value of 9.4% for the forecast period, followed by South America.
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The growth of cloud based telecom order management solutions is mainly due to increase in demand of order management solution within small and medium businesses. India, China and Japan are among the major countries in the telecom order management market for Asia Pacific region. Also, growing digitization, growth of connected devices and enhancing customer experience has significant effect on the telecom order management market in Brazil. Moreover, as a part of the strategy, many companies are focusing on mergers and acquisitions for an increased geographical reach of the global telecom order management market.
Some of the major players in the global telecom order management market are Ericsson AB, Amdocs Corporation, Cerillion PLC, IBM Corporation, ChikPea Inc., Comarch SA, Fujitsu Limited, Neustar, Inc., Pegasystems Inc, and Oracle Corporation.