Telecom companies incur significant costs while refining their operations and look for Operations Support System (OSS) providers to provide effective telecom services with lower CAPEX and OPEX costs. The market is expected to be driven by the development of new technologies such as next generation operations support systems, business support systems, service delivery platforms, and over-the-top (OTT) platforms. Some of the telecom operations management market's sub-markets include network management, consumer billing management, inventory management, online self-service, provisioning & activation, mediation, workforce management, and financial assurance.
The global Telecom Operations Management market size was predicted to reach over USD 60.07 billion in 2020 and projected to grow at a CAGR of 6.5% over the forecast period. The expansion of the telecom sector as a result of increased customer base due to increased penetration of mobile phones and internet services among consumers has resulted in an increase in the complexity of operation and operation costs for the industry. As a result, there is a growing demand for telecom operations management, which has fueled the growth of the telecom operations management market.
In the telecom industry, telecom operations management is a valuable sector. Telecom operations are extremely complex and subject to numerous fluctuations; therefore, having a sector dedicated to the management of these operations is critical to the industry's overall efficiency. Consumer billing management, workforce management, financial assurance, inventory management, online self-service, activation and provisioning, and network management are all part of telecom management. The operations ensure that the services are handled efficiently, which contributes to end-user satisfaction.
The report also emphasizes several distinctiveness of the global Telecom Operations Management industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the Telecom Operations Management industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The Telecom Operations Management market has tough competition among the new emerging and pre-established market vendors. Besides, the Telecom Operations Management industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
Based on the Deployment Type, the market is segmented into On-premises, and cloud. Telecom companies around the world are embarking on cloud-centered transformation journeys to drive new services, revenue opportunities, and experiences. Telecom operators can accelerate their journey by combining their cloud-native, open, and modular solutions with the fully managed, high-performance Cloud platform. To assist telecommunications companies, cloud providers are focusing on a few strategic regions. These include assisting telecom companies in monetizing 5G as a business services platform, enabling them to better engage their customers through data-driven experiences, and assisting them in improving operational efficiencies across core telecom systems.
Asia-Pacific region is projected to grow substantially over the forecast period. In terms of growth rate, Asia Pacific will be at the forefront of the IT operations and service management market. Along with ITOSM, countries such as India, China, South Korea, and Japan are seeing increased shareholder interest in enterprise IT. In the coming years, this trend will be visible in the form of a strong growth rate for the Asia Pacific market. As the number of internet users in the Asia Pacific region grows, and new technologies such as 4G LTE create opportunities in emerging economies, the amount of data generated is expected to skyrocket. This feature bodes well for the growth of the telecom operations management market. SME represents a massive untapped opportunity in the APAC region.
The major players of the global Telecom Operations Management market are Amdocs, Ericsson, Oracle, Accenture, Hewlett-Packard, Alcatel-Lucent, CISCO, Huawei, SAP AG, NEC, and others. Renowned companies are offering new and modern Telecom Operations Management software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Telecom Operations Management Market
Software Overview, 2019-2028 (USD Billion)
- Billing and revenue management
- Customer and product management
- Service fulfillment and assurance
- Resource inventory management
- Network management
- Service delivery platform
Service Overview, 2019-2028 (USD Billion)
- Planning and consulting
- Operations and maintenance
- System integration
- Managed services
Deployment Type Overview, 2019-2028 (USD Billion)
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America