According to a market report by Lucintel, the future of the convergent billing market looks promising with opportunities in the consulting services, managed services, and training & certification sectors. The global convergent billing market is expected to grow with a CAGR of 21% to 23% from 2023 to 2028. The major drivers for this market are growing penetration of digitization in business environments, reduced cost of billing processes, and the higher complexities of new service architectures.
In this market, cloud and on-premise are the major segments by deployment type. Lucintel forecasts that on-premise will remain the largest segment over the forecast period as it enables installing all the hardware and software required to operate and maintain convergent billing software on the customer’s system.
Within this market, managed services are expected to remain the largest segment as it ensures that the software/application runs smoothly on the customer's system, allows businesses to focus on their core business and services by taking responsibility for the software/application's IT-related tasks, and includes various other value-added services to help companies to achieve optimum use of the convergent billing software.
North America will remain the largest region due to consumers and businesses in this region have always been early adopters of technology. Additionally, US and Canada, are investing aggressively in emerging technologies, including cloud platforms, AI, and 5G technology, and the increasing demand to improve customer experience in the region.
Nokia, Sterlite Technologies, Optiva, SAP SE, IBM, Huawei, CSG International, Comarch SA, IDI Billing, and Amdocs are the major suppliers in the global convergent billing market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global convergent billing market by solutions, deployment type, services, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Convergent Billing Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global convergent billing market by convergent billing market by solutions, deployment type, services, and region, as follows:
Convergent Billing Market by Solutions [Value ($B) Shipment Analysis from 2017 to 2028]:
Customer Relationship Management
Settlement and Payment Management
Mediation
Voucher Management
Others
Convergent Billing Market by Deployment Type [Value ($B) Shipment Analysis from 2017 to 2028]:
Convergent Billing Market by Service [Value ($B) Shipment Analysis from 2017 to 2028]:
Consulting Services
Managed Services
Training & Certification
Convergent Billing Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the convergent billing market by solutions (customer relationship management, settlement and payment management, mediation, voucher management, and others), deployment type (cloud and on-premise), services (consulting services, managed services, and training & certification), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?