ALBANY, New York, July 25, 2019 /PRNewswire/ -- The global telecom order management market is expected to expand at 8.80% CAGR over the period 2017 to 2025, reveals an upcoming report by Transparency Market Research (TMR).
The market was valued at US$1.91 bn in 2016 and it is prognosticated to reach up to US$4.05 bn by the end of 2025. Ever increasing demand for wireless and connected devices is expected to drive the global telecom order management market during the forecast period.
Among the deployment type, the on-premises segment is anticipated to lead the market. However, cloud based deployment will emerge at a significant rate because of the rising number of connected devices.
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Complex Process Promotes Telecom Order Management Market
The order management is necessary for any business; however, it is very important for the telecom business due to the complexity of processes involved. This pushes the global telecom order management to expand in the future.
The order management helps in improving the efficiency in operational processes and results in reducing the cost, aiding in the growth of the telecom order management market.
Due to complexity and improper organizing, the orders may fall out and result in no sales and customers losing interest. However, the telecom order management ensures in correct process with improved efficacy, resulting in the expansion of the market over the forecast period.
To capture the new markets and invite new subscribers, the business must keep the first impression of the customer in mind. The customers come with various expectations, for example, if a telecom provider will be able to provide services on time accurately. It is manually a cumbersome job to keep up with each order; here comes the role of the telecom order management. It ensures that the services are provided on a promised date and with utmost accuracy, leading to the growth avenues in the global telecom order management market.
Some of the global leaders in the market operate on the latest available technologies. One of such technology is the Pega technology which provides intelligent business process management. This enables in modeling, automating, monitoring, and optimizing the processes, paving the way for the global telecom order management market to surge in the succeeding years.
High cost of installations may hamper use of telecom order management services. Nevertheless, rising digitalization is expected to provide growth opportunities to the telecom order management market during the upcoming years.
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North America Dominates Global Telecom Order Management Market
On the geographical front, the market is expected to be led by North America during the forecast period. The growth is primarily due to the rising awareness about the benefits of telecom order management, availability of latest technologies, number of subscribers, and need for customer retention and customer satisfaction.
Asia Pacific is expected to emerge as an impressive market during the forecast period. The growth in this region can be attributed to rapid urbanization, rising digitalization across the businesses, increasing number of telecom customers and companies.
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Some of the major companies that are present in the global telecom order management market include Amdocs Corp, Ericsson AB, Cerillion Plc, Fujitsu Ltd., Pegasystems Inc., Comarch SA, Oracle Corp, and IBM Corp. The market is anticipated to remain highly competitive during the forecast period. The competition could highly intensify in the next few years with increasing number of players investing heavily in the telecom sector.
This review is based on the findings of a TMR report titled, "Telecom Order Management Market (Deployment Type - On-premise, and Cloud based; Component - Solutions, and services (Consulting and Support Services)) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017 - 2025."
The global telecom order management market is segmented into:
Deployment
- On-premise
- Cloud based
Component
- Solutions
- Services
Geography
- North America
- U.S.
- Canada
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Rest of the Europe
- Asia Pacific
- China
- Japan
- India
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America (LATAM)
- Brazil
- Mexico
- Rest of LATAM
- Middle East & Africa
- South Africa
- Rest of MEA
- GCC Countries
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