Global Telecom Order Management Market: Snapshot
Thanks to the increasing trend of digitization, the global market for telecom order management is witnessing a remarkably high growth. The rising number of connected devices across the world, coupled with a surge in order management complexities, is fueling the demand for effective telecom order management solutions, reflecting greatly on the market’s growth. However, the hesitation among enterprises in taking up new technologies may limit the demand for these solutions in the years to come.
In 2016, the global telecom order management market was worth US$1.91 bn. Expanding at a healthy CAGR of 8.80% between 2017 and 2025, the opportunity in this market is likely to reach US$4.05 bn by the end of 2025. The constant advancements in next-generation telecom order management solutions will support the market considerably in the near future.
On-premise Segment to Continue Leading
Majorly, the global market for telecom order management is analyzed on the basis of the type of the deployment, component, and the geography. Based on the deployment type, the market is segmented into on-premise deployment and cloud-based deployment. Among the two, the on premise segment is holding the leading position at present. However, various telecom service providers, especially the small and medium enterprises, are looking for cloud-based deployment, owing to the rising number of connected devices.
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Based on the component, the market is divided into solution and services. Currently, the solution segment is dominating and analysts expect it remain on the top with a share of nearly 68% by the end of 2025. However, the service segment is likely to register the growth at a higher pace than the solution segment in the near future.
Increasing Demand for Customer Retention to Aid North America in Retaining Dominance
In terms of the geography, the global market for telecom order management is segmented into North America, the Middle East and Africa, Asia Pacific, South America, and Europe. Among these, North America has been leading the global market since the last couple of years, thanks to the increasing demand for customer retention, shrinking revenues and extremely competitive space. Researchers expect this regional market to continue its leading streak, acquiring a share of nearly 38% in the global market by the end of 2025.
The growth of the North America market for telecom order management is attributed to increasing awareness regarding the benefits that telecom order management solutions offer, such as the aid in timely order fulfillment required for early revenue realization and the improvement in end user satisfaction. Among other regional markets, Asia Pacific is expected to report a significantly high-paced growth at a CAGR of 9.40% between 2017 and 2025. The rapid digitization and the increasing cloud penetration across the region are expected to be the main factors behind the growth of Asia Pacific telecom order management market.
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Some of the leading players in the global market for telecom order management are Ericsson AB, Amdocs Corp., Cerillion Plc, IBM Corp., ChikPea Inc., Comarch SA, Fujitsu Ltd., Neustar Inc., Pegasystems Inc., and Oracle Corp. The market demonstrates a competitive business landscape and the scenario is expected to remain so over the next few years.