Albany, NY -- (SBWIRE) -- 03/14/2018 -- With the continual advancement in information and telecommunication technology, the competition within the global market for telecom order management is expected to intensify significantly over the next few years, states a new research report by Transparency Market Research (TMR). Ericsson AB, Amdocs Corp., Cerillion Plc, IBM Corp., ChikPea Inc., Comarch SA, Fujitsu Ltd., Pegasystems Inc., Neustar Inc., and Oracle Corp. are some of the prominent vendors of telecom order management solutions across the world. These players are likely to focus on strengthening their position in the global market by regional expansion in the near future, notes the market study.

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According to the research report, the global telecom order management market was worth US$1.91 bn in 2016. Analyst project the market to rise at a CAGR of 8.80% during the period from 2017 to 2025 and reach US$4.05 bn by the end of the forecast period. On the basis of the component, the demand for telecom order management solutions is comparatively higher than services and the trend is projected to continue in the years to come. In terms of the deployment, the demand for on-premise installation of telecom order management solutions is greater at present; however, the cloud mode of deployment will also gain prominence in the near future, thanks to the increasing trend of cloud computing across the world. Geographically, the worldwide market is led by North America. Followed closely by Europe, this regional market is likely to remain on the leading position in the years to come, states the research report.

"The rapid rise in the number of connected devices and the augmenting pool of subscribers are the main factors that are influencing the global market for telecom order management significantly," states an analyst at TMR. The increasing consolidation of services that network operators and telecom service providers are offering, is also fueling the demand for telecom order management solutions across the world. As the customer expectations continue to rise, various service providers are providing voice, data, video, internet, content, gaming, and location-based services bundled with a number of devices in a bid to retain their customers, which is leading to a severe order management complexity and is resulting in the rising demand for telecom order management solutions.

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Resistance in Adopting New Technologies to Hamper Market

Overall, the future of the global market for telecom order management looks bright; however, the resistance in adopting new technologies and taking up structural changes in systems accordingly, and the rising need for skilled professionals to manage the telecom orders may hinder the growth of this market in the years to come. The presence of compatibility issues with existing solutions and the absence of standardization are also projected to act as a hindrance to the growth trajectory of this market over the next few years. However, the continual advancements in next-generation telecom order management solutions will be supporting this market remarkably in the near future, reports the research study.