New York, Aug. 01, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Telecom Operations Management Global Market Report 2023" - https://www.reportlinker.com/p06479959/?utm_source=GNW
, Netcracker Technology Corp., Cisco Systems Inc., Accenture PLC, SAP SE, NEC Corporation, Comarch SA, ZTE Corporation, ServiceNow Inc., TATA Consultancy Services Limited, Avatier Corporation, Evidian SA, and Subex Limited.
The global telecom operations management market is expected to grow from $63.33 billion in 2022 to $68.62 billion in 2023 at a compound annual growth rate (CAGR) of 8.35%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions and affecting many markets across the globe. The market is expected to reach $94.22 billion in 2027 at a CAGR of 8.25%.
The telecom operations management market consists of revenues earned by entities by providing network inventory management, provisioning issues, network availability, and fault management services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The telecom operations management market includes the sales of hardware related to telecom operations management.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Telecom operations management refers to the process of managing the day-to-day activities and operations of a telecommunications network or service provider. It is used to ensure that the telecom network and services are operating efficiently and effectively to meet the needs and demands of customers.
North America was the largest region in the telecom operations management market in 2022.Europe is expected to be the fastest-growing region in the forecast period.
The regions covered in the telecom operations management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main service type of telecom operations management includes planning and consulting, operations and maintenance, system integration, and managed services.Billing and Revenue Management (BRM) refers to a business process that involves the management and optimization of an organization’s billing and revenue streams.
Telecom operations management is used to help businesses manage pricing, billing, invoicing, payments, and revenue recognition, among other related activities. The software type of telecom operations management includes billing and revenue management, customer and product management, service fulfillment and assurance, resource inventory management, network management, and service delivery platform that is deployed on-premise and in the cloud.
The increasing number of mobile internet users is expected to drive the telecom operations management market forward going forward.Mobile internet refers to the ability to access the internet on a mobile device, such as a smartphone or tablet, using wireless communication technology.
Increasing internet users put an excessive burden on telecommunications companies.This operational stress is managed through telecom operations management solutions as these solutions help manage repetitive tasks and complex procedures.
For instance, in 2022, according to the International Telecommunication Union, a Switzerland-based specialized agency of the United Nations, 5.3 billion people in the world use the internet, which is about 66% of the world’s population. The growth rate was 6.1% in 2021-2022, up from 5.1% in 2020-2021. As a result, the increasing number of mobile internet users is driving the telecom operations management market.
Product innovations are a key trend gaining popularity in the telecom operations management market.Major companies in the market are introducing innovative solutions to sustain their position in the market.
For instance, in November 2022, GoZone Wi-Fi, a US-based Wi-Fi network solution provider launched the first-ever enterprise-grade application suite for Telecom Infra Project (TIP) Open WIFI. The new solution helps network providers and telecom companies to effectively address customer Wi-Fi issues and accelerate innovation in Wi-Fi infrastructure.
In January 2023, Skyvera, a US-based enterprise software solutions provider acquired Sterlite Technologies Limited’s telecom products software business for an undisclosed amount.The acquisition is in line with Skyvera’s current product offerings and helps it expand its consumer base in newer geographies.
Sterlite Technologies Limited is an India-based optical and digital solutions company.
The countries covered in the telecom operations management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The telecom operations management market research report is one of a series of new reports that provides telecom operations management market statistics, including telecom operations management industry global market size, regional shares, competitors with telecom operations management market share, detailed telecom operations management market segments, market trends, and opportunities, and any further data you may need to thrive in the telecom operations management industry. This telecom operations management market research report deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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