San Francisco, CA -- (SBWIRE) -- 08/13/2019 -- The worldwide proliferating demand for connected devices and constantly swelling subscriber base in developing and developed countries are factors providing a robust underpinning to the evolving demand for telecom order management. These factors have led to a staggering rise in volume of telecom orders with the risk of costly order fallouts. Order management in the global telecom sector is an essential step in automating service fulfillment processes for optimizing customer service delivery and managing massive volumes of telecom order efficiently. The multifaceted demand for telecom solutions among enterprise users is stoking the popularity of end-to-end service order management solutions in a dynamically changing telecom sector. Such needs may pertain to gaming, data and video, and location-based services. Telecom order management solutions take control of operating costs of telecom providers. Furthermore, telecom order management plays a key role in minimizing consumer attrition, thus help telecom players build upon sales revenues.
In recent years, the market has witnessed the demand for telecom order consulting services to gain traction among clients looking for tailor-made solutions taking into consideration their unique business requirements. However, the market growth seems to be plagued by the insufficient rate of adoption of new order management technologies, especially in emerging and less-developed economies. Furthermore, the deployment of such solutions can also be a concern with limited technical expertise. Compatibility with the existing telecom framework is another bottleneck hindering the adoption of new telecom order solutions. The market, on the other hand, is likely to benefit from the popularity of managed IT services. The attractive advances being made in the IT regulatory area will unlock promising prospects in the years to come. Moreover, the rising industry effort to deploy next-generation wireless technologies such as 5G is also making the role of telecom order management all the more significant.
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Global Telecom Order Management Market: Overview
Effective order management plays a pivotal role in the success of any business but is particularly important for telecom providers. Telecom order management is a complex procedure, involving many processes that require multiple systems and departments. The challenges in telecom order management increases manifold when providers need to sell to the enterprise market where orders may be multifaceted and tailormade.
In order to progress in the hyper-competitive telecom market these days, providers need to get it right and this is boosting uptake of telecom order management.
Global Telecom Order Management Market: Key Trends
There are myriad advantages of telecom order management. First, it helps to bring down cost of operation for companies. This is because order management processes account for a sizeable proportion of operating costs of companies. Hence, they are an area where one has ample room for improvement. With effective order management, customer attrition can be reduced thereby preventing lost sales. Any new customer's initial impression of a provider depends on whether the latter is able to satisfy orders within the timeframe and accurately. Besides, based on how they are conducted, telecom order management processes can either facilitate or hamper a provider's ability to launch new services and products.
Global Telecom Order Management Market: Market Potential
The two main components of the telecom order management market are solutions and services. The solution segment can be further divided into customer order management, service order management, and service inventory management. Similarly, the services segment can be further divided into integration and installation services, support services, and consulting services. Among all of them, the consulting services, which aid companies figure out strategies to analyze, protect, and monitor crucial master content, is a key segment that is expanding at a healthy clip. Such services aid organizations to align their telecom order management solutions that primarily suit their business requirements. Thus the consulting services provide different benefits, such as decision-making, seamless business processes, easy management and operations, and ultimately better productivity.
Based on the type of network, the market can be broadly divided into wireline and wireless. Of the two, the wireline network, comprised of coaxial cables, copper cables, and sometimes fiber optics, accounts for a significant market share. Since such wired network connections are not susceptible to a single point of failure, they offer guarantee better speeds than dial-up connections.
Global Telecom Order Management Market: Regional Outlook
Geographically, the key segments of the global telecom order management market are North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. North America is a key market among them on account of a large number of players being domiciled in the region. Asia Pacific is another crucial region which is expected to clock healthy growth in the upcoming years. The market in the region is predicted to grow on the back of the rapid digital transformation and soaring demand for managed IT services. In addition, the rising economic growth in the developing economies of the region, coupled with bettering regulatory reforms is also proving beneficial to the market the in this region.
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Companies Mentioned in Report
Some of the prominent names operating in the global telecom order management market are Cognizant, Cerillion, Ericsson, IBM, ChikPea, Oracle, Comarch, Fujitsu, Intellibuzz, Neustar, Mphasis, and Pegasystems.
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