Telecom Order Management Market Size and Share to See Modest Growth Through 2025
Telecom Order Management is a solution that automates and streamlines order processing for telecom service providers. It involves tasks such as negotiations, installation, change management, and inventory control. It involves product catalogue, order management, lead management, provisioning, serviceability, and compatibility characteristic, which are examined before processing of order.
The major advantages provided by the telecom order management is that it help in cutting down the cost associated with the operations for companies, as order management processes account for a sizeable proportion of operating costs of companies. Hence, effective order management help in reducing the customer attrition. Therefore, order management adopted by the telecom industries is another factor propelling growth of the market.
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Increasing demand for streamlining business process for managing the stiff competition is one of major factor driving growth of the market
The telecom sector is highly competitive. In order to cope with competition, enterprises are focused on streamlining the business process. Order management helps in streamlining the business process of telecom sector by reducing the IT cost, enhancing the security, and eliminating the human error. Therefore, the telecom sector utilizes the telecom order management in order to synchronize databases, which help in reducing the development efforts along with enhancing the performance of the players, which in turn is driving growth of the telecom order management market.
The wireless network type is projected to witness highest growth during the forecast period. The networking helps companies to maintain the strong foothold in the market. Currently, organizations are dependent on networking modes, as it provides fast accessing to the document more effectively. Thus wireless networks enable users to access information from any location within the range of their wireless connection, which increases the productivity of employees in the organization.
The cloud-based premises segment held the dominant position in the market in 2017 and is projected to retain its dominance throughout the forecast period. The high cost associated with the telecom order management solutions is one of the major challenges faced by the solution providers, which can be overcome with the help of cloud deployment model. Deployment of cloud-based model offers various advantages such as flexibility, scalability, affordability, operational efficiency, and low cost. Hence, the deployment of cloud-based solutions is expected to grow significantly during the forecast period.
Global Telecom Order Management: Regional Insights
On the basis of geography, the global telecom order management market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. North America accounts for largest market share, owing to large number of leading players in the region.
Asia Pacific region is projected to witness significant growth in market over the forecast period, owing to digital transformation across industries and increasing demand for managing the IT services.
Telecom Order Management Market: Competitive Background
Key players operating in telecom order management market include Pegasystem, Inc. Cerillion Technologies, Cognizant, Ericsson, IBM Corporation, Oracle Corporation, ChikPea, Inc. Comarch, Fujitsu, Intellibuzz, Mphasis, and Neustar.
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