According to Analysys Mason, the global telecom billing and revenue management market continued its steady growth throughout last year, generating USD5.91 billion, up 2.3% from USD5.78 billion made in 2013. The billing market was driven mainly by the growth in demand for convergent platforms, while the mediation market grew modestly. The partner and interconnect segment also registered strong growth last year, said the research firm.
Another market research report anticipates the growth pace to continue over the coming years, reaching $14.16 billion by 2022 with a CAGR of 8.03% from 2014 to 2022, on the back of rapid growth in the telecommunications sector, the deployment of innovative services and increasing number of customers. Sub-segments which will be contributing to the growth include revenue assurance, partner management, fraud management, billing and charging, said the report further.
In terms of regions, North America and Europe are forecast to have the highest adoption and regions such as Asia-Pacific, Middle East and Africa along with Latin America will be providing ample opportunities for solution providers in these areas.
