Albany, NY -- (SBWIRE) -- 12/24/2018 -- The communication service providers (CSPs) provide various communication channels which is basically a medium through which the sender and receiver exchange ideas. Increasing usage of communication network by the service providers and telecom operators leads to congestion which in turn leads to loss of revenue and low efficiency for telecom providers. This in turn enables them to cut down loyal subscriber base which in turn causes potential loss of business. As a result, service fulfillment aims to minimize this problem. It examines data related to various parameters which includes network, customer, service, price and market for insights so that it aims at boosting operational efficiency thereby improving customer experience. In addition, telecom companies and enterprise are banking on service fulfillment which aims at increasing revenue by optimizing network. In addition it also helps decrease operational costs in longer runs thereby improving risk management. The global Service Fulfillment market is expected to grow at a healthy rate during the forecast period from 2017 to 2025 owing to the rapid industrialization and technological advancements in these platforms.
Global Service Fulfillment market has been segmented on the basis of types of services, deployment types and software. On the basis of software the market is segmented into service order management, network management and inventory management among others. By types of service the market has been segmented into operations and maintenance, planning and consulting and system integration. In terms of deployment type the market is segmented into on-premises and hosted deployment. Rapid Increase in connectivity devices and subscribers is driving the global Service Fulfillment market.
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In addition, large scale investments in telecom operation technologies are also boosting the demand of this market. Moreover, easy access to critical management solutions is also driving the growth of this market. Surging revenues through data services are other factors boosting the demand of Global Service Fulfillment market. However, saturation in traditional revenue streams followed by lack of standardization is acting as a restraining factor in the growth of the global Service Fulfillment market. Recent trend shows that telecom service fulfillment provides various supply chain activities that aims at enabling service access to various subscribers. Growing dominance of smart phones around the world followed by rapid advancements in the modern day communication are creating major business opportunities across various industries. In addition, innovations in Next-Gen Oss architecture also serve as an opportunity for this market. New product development followed by merger and acquisition are one of the key strategies adopted by the key players operating in the global Service Fulfillment market.
Geographically, global Service Fulfillment market has been segmented into North America, Europe, Asia Pacific, Middle- East and Africa (MEA) and Latin America. In 2016, North America held the largest share of the Service Fulfillment market owing to increasing demand of service fulfillment in the telecom ecosystem .Europe followed North America in the global Service Fulfillment market. Wide spread internet network in this region is fuelling the growth of this market in Europe region. In addition, Asia Pacific shows a significant growth in the global Service Fulfillment market during the forecast period. Furthermore, Latin America and the Middle East & Africa are also open to great opportunities in the global Service Fulfillment market. All these factors are expected to increase the demand of Service Fulfillment market during the forecast period from 2017- 2025.
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The major players operating in the global Service Fulfillment market includes Accenture. (Republic of Ireland), Alcatel-Lucent (France), Amdocs . (The U.S), CISCO Sytems. (The U.S), Hewlett-Packard (The U.S), IBM (The U.S), Ericsson (Sweden), Oracle Corporation (The U.S) and Huawei Technologies (China) among others.