Online Charging System Market to see Rapid Growth by 2029

The global online charging system market is anticipated to grow at a CAGR of 5.5% during the forecast period. Online charging system is a specialized communications feature that allows service provider bill customer in real time for services. The online charging oversees the subscribers' account balance, rating, charging transaction control, and correlation. A telecom operator can guarantee that credit limits are maintained and resources are authorized on a per-transaction basis with the help of online charging system. A better subscriber experience is an advantage of employing a digital online charging system. Clients are easily able to access their accounts from a range of mobile devices owing to an online charging system. With an online charging system, subscribers can view rates and fees and manage their accounts instantly. Therefore, investing in an online charging system will raise service standards generally and result in more satisfied customers. For instance, in September 2020, MATRIXX Software launched a next-generation of its cloud native Digital Commerce Platform. The platform support both 5G converged Charging Systems (CCS) and 4G Online Charging Systems. Operators including Dish and AT&T Mexico have already deployed the platform.

The growth of the market is attributed to factors such as the increasing demand for emerging 5G digital online system networks across the globe. With a combination of considerably lower latency and more effective speeds, the introduction of 5G networks has been accelerated in many areas. This resulted in new use cases and a rise in demand for innovative billing models such as network slicing, quality of service (QoS), or differential pricing for different 5G-enabled services. Accordingly, market players are coming up with new products to cater to the demand for 5G networks that offers a solution such as cloud-native microservices. For instance, in March 2022, ESPOO, Finland - Tecnotree launched a 5 G-enabled Digital Online Charging System (DOCS) solution - a cloud-native microservices-based convergent charging platform designed to cater to both current and futuristic monetization use-cases of Communication and Digital Service Providers.

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Market Coverage

• The market number available for - 2022-2030

• Base year- 2022

• Forecast period- 2023-2030

Segment Covered-

· By Component

· By Deployment Mode

· By Network Type

· By Vertical

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

• Competitive Landscape- including Alepo, CSG Systems International, Inc., Huawei Technologies Co., Ltd., Lifecycle Software Ltd., and Netcracker Technology Corp., among others

Online Charging System Market Report Segment

By Component

· Services

· Software

By Deployment Mode

· Cloud

· On-Premises

By Industry Vertical

· Mobile Network

· Fixed Network

By Vertical

· Telecom and Communication

· Banking

· Financial Services

· Insurance (BFSI)

· Media and Entertainment

· Healthcare

· Other Industries

A full Report of Online Charging System Market is Available @ https://www.omrglobal.com/industry-reports/online-charging-system-market

Online Charging System Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

• Latin America

• Middle East and Africa

Company Profiles

· Alepo

· CSG Systems International, Inc.

· Huawei Technologies Co., Ltd.

· Lifecycle Software Ltd.

· Netcracker Technology Corp.

· Nexign

· Nokia

· Optiva Inc.

· Oracle Corp.

· Telefonaktiebolaget LM Ericsson

· SAP SE

· Sinch

· Subex

· ZTE Corp.

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