Convergent Billing Market Envisions USD 69.6 Billion By 2030 with a 21.8% Compound Annual Growth Rate

The report Convergent Billing Market Share, Size, Trends, Industry Analysis Report; By Solution (Customer Relationship Management, Settlement and Payment Management, Mediation); By Service; By Deployment; By Region; Segment Forecast, 2022 - 2030 gives a detailed insight into current market dynamics and provides analysis on future market growth.

According to the research report, the global convergent billing market was valued at USD 12.17 billion in 2021 and is expected to reach USD 69.6 billion by 2030, to grow at a CAGR of 21.8% during the forecast period.

𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐂𝐨𝐦𝐩𝐫𝐞𝐡𝐞𝐧𝐬𝐢𝐯𝐞 𝐒𝐚𝐦𝐩𝐥𝐞 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐀𝐧𝐚𝐥𝐲𝐬𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐞𝐫𝐞: https://www.polarismarketresearch.com/industry-analysis/convergent-billing-market/request-for-sample

Convergent billing is a comprehensive billing system that integrates all service charges into a single invoice, regardless of the type of service-be it telecommunication, utilities, or digital services. It allows service providers to consolidate billing for multiple services, enhancing customer experience and operational efficiency. The market for convergent billing solutions is growing due to the increasing complexity of services offered by providers and the demand for streamlined billing processes.

Increasing use of telecom services by people worldwide, the global convergent billing system for the telecom market is expected to grow dramatically. Furthermore, the development of a single billing platform provides the benefit of viewing all products and services under one roof, which is expected to accelerate the rate at which the global market is expected to grow.

Furthermore, this technology has improved customer service by allowing real-time billing to personalize the telecom experience, which is expected to add significant traction to the industry.

The adoption of cloud computing as a technology and a paradigm for the new computing era has undeniably grown in popularity and appeal among enterprises and service providers. It has also gained popularity among end users, who increasingly store their personal data in the cloud. This trend in scientific computing is still in its early stages.

With the global rollout of 5G technology, the demand for convergent billing solutions is increasing, creating additional opportunities for solution providers to gain market traction. For example, Huawei recently announced the Convergent Billing System (CBS) R20, the industry's first-ever 5G SA network-based monetization solution in London.

In the 5G billing field, the CBS has used the micro-services architecture. It adheres to the principles of stateless microservices and data and application separation. A distributed architecture provides the benefit of stateless microservices and data and application separation, which are all key applications of the CBS.

With relatively little communication infrastructure, the new generation of telecom operators is attempting to launch and maintain differentiated service capabilities that combine a cloud-based model, communication service integration via APIs, and mostly web-based self-care options. Such developments and initiatives are expected to boost the market.

𝐁𝐮𝐲 𝐍𝐨𝐰 𝐓𝐡𝐢𝐬 𝐏𝐫𝐞𝐦𝐢𝐮𝐦 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐑𝐞𝐩𝐨𝐫𝐭𝐬: https://www.polarismarketresearch.com/buy/1663/2

𝐓𝐨𝐩 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬:

Alcatel-Lucent SA
Amdrecor Inc.
CSG Systems International Inc.
Huawei Technologies Co. Ltd.
IBM Corporation
Optiva Inc.
SAP SE
Sterlite Technologies Limited
Amdocs Inc.
Comverse Inc.
Elitecore Technologies Pvt. Ltd.
Orga Systems Gmbh
Redknee Inc

𝐂𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐩𝐨𝐫𝐭 𝐇𝐢𝐠𝐡𝐥𝐢𝐠𝐡𝐭𝐬

Customer relationship management segment held the largest market share as it is a potent tool to extract analysis of consumer experience.
Managed Service held the largest segment in the service segment with rising responsibility to switch awareness from IT to core services.
Cloud deployment held the largest deployment segment as the rising micro services boost the market growth.
North America held the dominant position in the regional segment because of its advanced technology and per capita income.

𝐁𝐫𝐨𝐰𝐬𝐞 𝐀𝐝𝐝𝐢𝐭𝐢𝐨𝐧𝐚𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐬: https://www.polarismarketresearch.com/industry-analysis/convergent-billing-market

𝐏𝐨𝐥𝐚𝐫𝐢𝐬 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐡𝐚𝐬 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐞𝐝 𝐭𝐡𝐞 𝐜𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠 𝐦𝐚𝐫𝐤𝐞𝐭 𝐫𝐞𝐩𝐨𝐫𝐭 𝐛𝐚𝐬𝐞𝐝 𝐨𝐧 𝐬𝐨𝐥𝐮𝐭𝐢𝐨𝐧, 𝐬𝐞𝐫𝐯𝐢𝐜𝐞, 𝐚𝐧𝐝 𝐝𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭:

𝐂𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠, 𝐒𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 (𝐑𝐞𝐯𝐞𝐧𝐮𝐞 - 𝐔𝐒𝐃 𝐁𝐢𝐥𝐥𝐢𝐨𝐧, 𝟐𝟎𝟐𝟐 - 𝟐𝟎𝟑𝟎)
Customer Relationship Management
Settlement and Payment Management
Mediation

𝐂𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠, 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 (𝐑𝐞𝐯𝐞𝐧𝐮𝐞 - 𝐔𝐒𝐃 𝐁𝐢𝐥𝐥𝐢𝐨𝐧, 𝟐𝟎𝟐𝟐 - 𝟐𝟎𝟑𝟎)
Consulting Services
Managed Services
Customization Services

𝐂𝐨𝐧𝐯𝐞𝐫𝐠𝐞𝐧𝐭 𝐛𝐢𝐥𝐥𝐢𝐧𝐠, 𝐃𝐞𝐩𝐥𝐨𝐲𝐦𝐞𝐧𝐭 𝐎𝐮𝐭𝐥𝐨𝐨𝐤 (𝐑𝐞𝐯𝐞𝐧𝐮𝐞 - 𝐔𝐒𝐃 𝐁𝐢𝐥𝐥𝐢𝐨𝐧, 𝟐𝟎𝟐𝟐 - 𝟐𝟎𝟑𝟎)
Cloud
On-Premise

𝐂𝐨𝐧𝐭𝐚𝐜𝐭 𝐈𝐧𝐟𝐨:

Polaris Market Research
Phone: +1-929-297-9727
Email: sales@polarismarketresearch.com

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

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This release was published on openPR.