The global demand for Convergent Billing Market is presumed to reach the market size of nearly USD 92.26 BN by 2028 from USD 22.16 BN in 2021 with a CAGR of 22.6% under the study period 2022 - 2028.
Convergent billing is an accounting and financial reporting technology used by the telecommunications industry to combine all service costs into a single customer bill. The integrated statement gives customers a complete view of their ordered services. The industry's growth may be due to decreased billing process costs, fully managed bundling, improved customer satisfaction, pricing that allows customers to acquire services at a discount, and centralized customer help. A convergent billing system can control services and monitor account balances in real time.
The most significant benefit of transitioning to a convergent billing platform is the simplicity with which more services can be offered, which helps fuel market expansion. Telecom companies progressively invest in professional convergent billing services to optimize their earnings. As a result, this aspect supports the expansion of the product's market. The growing usage of digitalization in corporate contexts and the increased complexity of innovative service designs will assist in market expansion. Furthermore, the rising requirement to reduce operating expenses and provide intermediate or long-term functionality will contribute to the market's profitable development. The growing amount of complications and the prolonged duration can limit the market growth.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of convergent billing. The growth and trends of convergent billing industry provide a holistic approach to this study.
This section of the convergent billing market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
- Customer Relationship Management
- Settlement And Payment Management
- Voucher Management
- Consulting Services
- Managed Services
- Customization Services
This section covers the regional outlook, which accentuates current and future demand for the Convergent Billing market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Convergent Billing Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the convergent billing market include Nokia Corporation, Sterlite Technologies Limited, Amdocs, Optiva Inc., SAP SE, Huawei Technologies Co. Ltd., CSG International, Mind CTI, Comarch SA, IDI Billing. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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