Telecom Order Management Market to Reach USD 6.50 billion by 2026 | Top Players as – Cognizant, Ericsson and Fujitsu
Adoption of internet-enabled smartphones and increasing consumer preference for online shopping through ecommerce platforms are favoring the market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, April 14, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Telecom Order Management Market to Reach USD 6.50 billion by 2026 | Top Players as – Cognizant, Ericsson and Fujitsu.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global telecom order management market size was valued at USD 2,245.18 million in 2018, and is projected to reach USD 6,500.46 million by 2026, growing at a CAGR of 14.30% from 2019 to 2026.
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Increase in connectivity devices and subscribers, surge in demand for network installations across rural areas, and cost-effective business processes to gain a competitive edge in the industry have boosted the growth of the global telecom order management market. Integration of advance technology such AI, machine learning and big data and increase in demand from developing economies is expected to create lucrative opportunities in the near future.
The global telecom order management market is segmented based on component, deployment model, organization size, network type, product type and region. In terms of component, it is bifurcated into solutions and services. Based on deployment model the market is segmented into on-premise and cloud. As per organization size, it is bifurcated into large enterprises and small & medium enterprises. In terms of network type, the market is divided into wireline and wireless. As per product type, it is classified into customer order management, service order management and service inventory management. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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The large enterprises segment held the largest share in 2018, contributing to nearly two-thirds of the market, owing to its capability to invest heavily on infrastructure development activities. However, the SMEs segment is projected to portray the fastest CAGR of 15.9% during the forecast period, owing to the rise in penetration of SME’s that are propelling automation space to stay competitive in the market.
The service segment is expected to portray the fastest CAGR of 16.9% during the forecast period, owing to increase in need of various different services such as managed service and professional services. However, the solution segment held the largest share in 2018, accounted for nearly three fourths of the market, as automation solutions are cheaper than solutions and are faster to deploy.
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The market across the North America region held the lion’s share in 2018, contributing to nearly two-fifths of the market. As the region is expected to adopt telecom order management software at a high rate to bring better quality customer services and improves the quality and performance of the services. On the other hand, the Asia-Pacific region is anticipated to register the fastest CAGR of 16.4% during the forecast period, owing to rapid digital transformation and soaring demand for managed IT services in emerging economies such as China and India.
The key players profiled in the telecom order management market analysis IBM Corporation, Oracle Corporation, Cognizant, Ericsson, Fujitsu Limited, Pegasystems Inc., Infosys Limited, Wipro Limited, Comarch SA and Cerillion. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Key Finding of The Telecom Order Management Market:
● Based on component, the solution segment led the telecom order management market size in terms of revenue in 2018.
● By organization size, the large enterprises segment accounted for the highest telecom order management market share in 2018.
● Based on region, North America generated the highest revenue in 2018.
● Depending on industry vertical, the healthcare segment is anticipated to exhibit substantial growth during the forecast period.
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