Advancement in EBPP technologies such as artificial intelligence (AI), faster payments, and mobile technology is expected to provide opportunities for the telecommunication electronic bill presentment and payment market growth
The global telecommunication electronic bill presentment and payment market size is projected to reach nearly USD 13,991.2 million by 2028. In addition, it is projected to gather a CAGR of above 12.21% over the forecast years 2021-2028. Telecommunication electronic bill presentment and payment (EBPP) refers to a process of delivering paperless bills. Customers, through this option make the bill payments electronically, through the internet. This concept is often also termed as e-invoicing, e-billing, or e-payables. Growing use of hand-held smart devices such as mobile phones, tablets and even laptops along with the provision of high-speed internet has enabled access to online navigation and payments. This factor mainly drives the global telecommunication electronic bill presentment and payment (EBPP) market.
The future and existing telecommunication electronic bill presentment and payment market progress are outlined to know the market attractiveness. Key influencing factors focus on the telecommunication electronic bill presentment and payment of market opportunities over the forecast years. Factors such as increasing penetration of smartphones with high-speed internet access are driving the market growth. Also, outsourcing electronic bill presentment and payment services to gain popularity is boosting the global telecommunication electronic bill presentment and payment market growth. However, obstacles for the adoption of EBPP is likely to hamper the market growth. Furthermore, advancement in EBPP technologies such as artificial intelligence (AI), faster payments, and mobile technology is anticipated to be an opportunity for the telecommunication electronic bill presentment and payment market.
Adroit Market Research report on the global telecommunication electronic bill presentment and payment market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for historic years from 2018 to 2019, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at the global as well as country level. Also, the study assesses the market based on Porter's five forces analysis and positions the key players based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. Prominent players operating in the global anti-slip s additives market have been studied in detail.
The telecommunication electronic bill presentment and payment market has solid competition amongst the already well-known and new market players. Also, the telecommunication electronic bill presentment and payment industry players are pursuing potential markets to seize a competitive lead among the other industry players by forming mergers & acquisitions, agreements, acquiring other companies & new startups, establishing collaboration & partnerships, and growing their business existence.
Based on the type segment, the market is bifurcated into the direct mode, the aggregate model, push/invited pull technology. In the year 2020, the direct mode segment gathered the major share and it is likely to maintain its position during the forecast years. The market growth of this segment is primarily ascribed to the major reason since, direct billing mode is the largest telecom EBPP segment. Some telecom companies also allow further development of EBPP systems by creating new payment sites. This includes features such as transaction authorization, refunds, and capture payments. Such payment systems accept major credit cards, enterprise money and also sometimes save on transaction cost, therefore increase revenue and profit.
The Central and South America region is projected to accumulate the highest growth during the forecast years. The market growth in this region is mainly ascribed to the increasing e-commerce sales coupled with rising smartphone penetration is expected to encourage e-commerce companies to open multiple payments options for consumers to increase their market concentration. Additionally, currently many businesses and consumers are depending on cash transaction, which in turn is expected to offer potential opportunity for e-billing payment providers to increase their market reach by offering innovative features. Furthermore, less market concentration followed by less awareness among consumers is expected to prompt international players to invest in Central and South American countries. However, the China held the highest market share in 2020 and it is projected to remain dominant during the forecast years 2021-2028.
The major players of the global telecommunication electronic bill presentment and payment market are Cass Information Systems, Inc., Paymentus Corporation, Aliaswire, Inc., Fiserv, Inc., Liquid Telecommunications Holdings Limited, ACI Worldwide Inc., Digital Virgo Entertainment, Kubra Data Transfer Ltd, EAFRICALAB.COM, INC, and Ebpsource Ltd. The telecommunication electronic bill presentment and payment market comprises well established local as well as global players. In addition, the previously recognized market players are coming up with new and advanced strategic on-premises and cloud to stay competitive in the global market.
Key Segments of the Global Telecommunication Electronic Bill Presentment and Payment Market
Type Overview, 2018-2028 (USD Million)
- The Direct Mode
- The Aggregate Model
- Push/Invited Pull Technology
Application Overview, 2018-2028 (USD Million)
- Fixed Telecommunications
- Mobile Telecommunications
Regional Overview, 2018-2028 (USD Million)
- North America
- United Kingdom
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Central and South America
- Rest of Central and South America
- Middle East and Africa