The global telecom order management market is poised to witness a highly intense competition in the forthcoming years, says Transparency Market Research based on a recently published report. Such an intense competition is mainly expected to exist on the basis of progressive advancements occurring in the field of information and telecommunication technology. Most players are focusing on facilitating regional expansions in the near future as a prime strategy to improve their presence in the market. Amdocs Corp., Cerillion Plc, Oracle Corp., ChikPea Inc., Fujitsu Ltd., IBM Corp., Pegasystems Inc., Comarch SA, Ericsson AB, and Neustar Inc., are key players operating in the global telecom order management market.
The global telecom order management market is divided into various segments on the basis of component, deployment type, and region. Under component, solutions and services are two key categories, whereas the on-premise and cloud-based systems are two prominent segments under deployment type. Based on deployment type, the on-premise segment holds a leading position owing to its higher availability in various regions. From the perspective of component, the solution segment currently has a greater preference thanks to ever-rising demands from consumers that deal with solving various issues associated with telecommunications.
Geography-wise, the global telecom order management market is spread across North America, Europe, the Middle East and Africa, Asia Pacific, and South America. Of these, a strong telecommunication infrastructure along with a highly competitive scenario present in North America has made this region garner maximum revenue in recent years.
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The global telecom order management market is expected to reach a valuation of US$4.05 bn by 2025, a significant rise from a valuation of US$1.91 bn., registered in 2016. This rise is expected to occur at an impressive CAGR of 8.80%.
Provision of Improved Services Stokes Rate of Demand
A brisk rise in the number of telecommunication devices connected to each other along with a rising number of subscribers is primarily driving the global telecom order management market. Telecom services are mostly getting consolidated with a large number of network operators and service providers, which consequently has managed to significantly boost the market. With changing customer expectations, enhanced customer services need to be provided to the customers. Keeping this in mind, provision of state-of-the-art services associated with video, voice, data, content, gaming, and location are likely to boost customer retention, as a result leading towards better revenue gained in the market.
Lack of Skilled Professionals Dampens Growth
However, the absence of telecom lines in several under-developed and remote regions has restrained the global telecom order management market’s growth. This absence could be due to: resistance shown by people from such regions to adopt the technology, or the harsh conditions existing in the region. Lack of skilled professionals in some regions might also hinder the market’s growth. Nevertheless, continued support from governmental as well private bodies is expected to offset the restraints up to a certain degree.