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Convergent Billing Market Size & Share Sees Big Growth by 2024

Convergent Billing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024


Sarasota, FL -- (SBWIRE) -- 12/27/2017 -- Global Convergent Billing Market: Overview

Rapidly growing telecommunication sector, increasing customer base, and deployment of innovative services have created a pressure on existing network charging systems. However, only simple communication platform is not enough in order to stand in the today's era. The communication service providers (CSPs) need to implement convergent billing solutions in order to enhance overall profit and efficiency. A real-time integrated service that offers combined bill for all service users is known as convergent billing solution. CSPs break all the barriers of the billing systems and vertical charging and offer quick services and decision making. It provides flawless transfer of data to the user and other devices by spectrum and it extends its service processes to its end users. With the implementation of the convergent billing, service providers can customize their services, which suits to customer needs.

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Global Convergent Billing Market: Growth Factors

Rapidly increasing telecommunication sector across the world is the major driving factor on the global convergent billing market. It offers a single application with multiple domains, which is one of the major driving factors of the global market. The emergence of wireless subscription market and the introduction of smart devices is another factor that is anticipated to contribute to the market growth in the near future. It's set up centralized interaction enables communication among end users is the factor, which is expected to propel the global market growth. Increased competition and proliferations of the next-generation converged digital services among major players in the market may fuel the global convergent billing market growth. Rising expectations of end-users in terms of service and support is anticipated to fuel global market in the future. The key aspect of convergent billing is its capability to combine diverse production together in order to form hybrid services to offer to the customer. This is highly preferred due to operator's ability to quickly offer services and reduced implementation cost. This is anticipated to foster the global convergent billing market growth in the near future.

Global Convergent Billing Market: Segmentation

The global convergent billing market is classified based on solutions, deployment types, and services. The solution segment comprises customer relationship management, mediation, settlement and payment management, and voucher management. The customer relationship management is further sub-segmented as charging and billing management. The deployment type includes on-premise and hosted. The service segment is classified as customization services, consulting services, and managed services.

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Global Convergent Billing Market: Regional Analysis

The global convergent billing market is categorized based on geography as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the dominating region in the global market owing to the adoption of business strategies such as merger, acquisition, product launch, collaboration, and partnership.

Global Convergent Billing Market: Competitive Players

Key players in the global convergent billing market are EI Technologies Co., Ltd., Elitecore Technologies Pvt. Ltd., IBM Corporation, Amdocs, Inc., and CSG International. Others players influencing the global market are Alcatel-Lucent S.A., Orga Systems, GmbH, Redknee, Inc., SAP S.E., and Comverse Inc.

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