Integrated Revenue and Customer Management Market - Forecasts from 2022 to 2027

The Integrated Revenue and Customer Management (IRCM) for CSPs market was valued at US$21.386 billion in 2020.

The IRCM solutions are witnessing a continuous increase in demand from communication service providers (CSPs) across the globe since these off-the-shelf software packages align perfectly with their need for solutions that can efficiently address critical revenue and customer management business processes for them. IRCM solutions currently available in the market meet CSPs’ requirements associated with transaction charges processing, without being affected by parameters like network type, product type, customer type, and service type, or other requirements associated with payment methods for CSPs. IRCM packages contain a group of customer-facing and network-facing solutions which add support to functions associated with customer acquisition and retention, and monetization. At their core, ICRM solutions streamline legacy billing, charging, and customer care processes. Many advanced ICRM solutions come further loaded with capabilities like analytics, visualization and reporting, life cycle management for products, e-bill generation, and payment processing, among others. The demand for these solutions is being majorly driven by the rising focus of industry players on improving operational efficiency. The increasing popularity and adoption of agile and scalable solutions in this sector clearly show the focus of industry players on cost reduction. Continuously increasing the adoption of software-defined networks, on account of lower capital and operating expenses associated with their use as compared to the use of legacy networks, is an example of how focused industry players are on improving margins, thus boosting the market growth.

Cloud-based services are getting more popular and accepted

The growing popularity and adoption of cloud-based services are also driving with it the demand for flexible data networks that can provide automatic traffic management, bandwidth flexibility, and scalable storage to the carriers to enable them to deliver a wider range of cloud-based services to a larger customer base at affordable prices. The service providers are moving towards a new data centre infrastructure that can provide a dynamic and scalable cloud environment to the users. For instance, Emirates Integrated Telecommunications Company, a Dubai-based integrated telecommunications service provider, is using Cisco's Application Centric Infrastructure (ACI) and Cisco Nexus 9000 Series Switches for its next-generation data centres, which have significantly reduced the time to market for new cloud-based services.

Growth of the Partners in the Market

Growing competition across the ICT sector has been increasing the adoption of agile solutions, which can enable the vendors to quickly respond to evolving market changes, thereby preventing them from losing their customers to their rivals. The requirement for innovative solutions that can effectively monitor and manage essential processes while protecting and boosting margins is developing among telecom market operators as their customer base continues to grow. As a result, demand for IRCM is increasing among them, promoting the market growth.

The market is divided into on-premises and cloud deployment models.

The rising penetration of the cloud into the communication and technology industries is also driving demand for these solutions. The ease with which these solutions may be deployed on the cloud, as well as the significant cost savings that this model provides, are driving their move to the cloud. The publisher estimates the market for cloud storage in the communication and technology industries to grow at an impressive CAGR of 29.32% between 2017 and 2023. In this area, the cloud storage market was worth US$4.564 billion in 2017 and is anticipated to be worth US$21.347 billion in 2023. Despite the fact that many CIOs are still hesitant to make the leap to the cloud due to the significant risks of data loss and business continuity when running critical functions in the cloud, the adoption of IRCM solutions among them, and their deployment in the cloud, is gaining traction in many regions, accelerating market growth.

The global market for CSPs' Integrated Revenue and Customer Management (IRCM) has been categorised by deployment model, organisation size, and geography. The global Integrated Revenue and Customer Management (IRCM) for the CSPs market has been divided into on-premise and cloud deployment models. The market has been divided into three categories based on the size of the business: small, medium, and large. The market has been divided into three categories based on the size of the business: small, medium, and large.

North America and Europe accounted for a significant market share

Geographically, the Integrated Revenue and Customer Management (IRCM) for the CSP market has been segmented as North America, South America, Europe, Middle East, and Africa, and Asia Pacific. The regional markets would be further split into nations that account for a considerable market share to provide a deeper picture of the market. On account of the booming communication and technology sectors across these regions, together, North America and Europe accounted for a significantly large market share in 2019. These regions tend to be the early adopters of new solutions and technologies, and the availability of favourable infrastructure for the adoption of IRCM in these regions is driving its adoption among customers, thus augmenting the market growth. Over the projected period, the Asia Pacific Integrated Revenue and Customer Management (IRCM) for CSPs Market is expected to grow at a faster rate. The market growth in this region will be majorly be driven by the continuous pumping of huge investments by global players across this industry into this region. The rapid growth of the ICT sector, on account of the presence of a huge population with still no access to many of the services this sector offers, will continue to support the Integrated Revenue and Customer Management (IRCM) for CSPs market growth. Other regions like the Middle East, Africa, and South America held a relatively small share in this market in 2019. However, good market growth is expected in these regions as well over the forecast period. Increasing investments in the communication and technology industries in these regions, and the availability of a fair number of vendors across countries, are expected to be key drivers for market growth across them.

Competitive Insights

TECNOTREE CORP., Netcracker, AMDOCS, Telefonaktiebolaget LM Ericsson, SAP, Huawei Technologies Co., Ltd., and Comviva are among the prominent key markets players in the global Integrated Revenue and Customer Management (IRCM) for CSPs market. Because of their positive brand image and brand offers, these companies have a significant market share. Major players in the Integrated Revenue and Customer Management (IRCM) for CSPs market have been covered along with their relative competitive positions and strategies. The report also mentions recent deals and investments by different market players over the last two years.

COVID-19 SCENARIO

Due to disruptions in manufacturing units, supply chains, labour and personnel availability, and the temporary closing of cross-country borders, the COVID-19 pandemic had a significant impact on businesses around the world. As a result, businesses have begun to develop work-from-home rules. Despite the shutdown, many businesses were able to resume operations from faraway locations. Businesses, on the other hand, have seen an increasing demand for customer support systems to enable seamless interaction between staff and customers.

Key Developments

May 2022: MTN Ghana has chosen Tecnotree's B2B and B2C digital transformation stack, allowing the operator to fulfil enterprise market demand while also delivering enhanced customer experiences at a lower cost.

May 2021: Amdocs Strengthens Strategic Partnership with Microsoft to Help Service Providers Make the Transition to the Cloud Service providers will be able to convert to the cloud with cloud-native technologies and cloud access the services, and also deploy 5G networks in the cloud.

Segmentation

By Deployment Model

• On-Premise
• Cloud

By Enterprise Size

• Small
• Medium
• Large

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Europe
• UK
• Germany
• France
• Spain
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Asia Pacific
• China
• Japan
• South Korea
• Australia
• India
• Indonesia
• Thailand