IMARC Group, a leading market research company, has released a report titled “Telecom Order Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. According to the report, The global telecom order management market size reached US$ 3.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 7.5 Billion by 2028, exhibiting a growth rate (CAGR) of 13.4% during 2023-2028.
Telecom order management is a technological solution that efficiently manages multiple telecommunication operations and delivers services promptly to consumers. It includes order management, service order management, and service inventory management. It is commonly employed to monitor customer orders and manage the steps in fulfilling them. It involves accepting orders and tracking the supply chain activities responsible for assembling and providing telecommunication services to subscribers. Currently, telecom order management finds extensive applications in standardizing and optimizing marketing and business operations in various industries across the globe.
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Telecom Order Management Market Trends and Drivers:
The global telecom order management market is primarily driven by the rising product adoption by communication service providers (CSPs) to create personalized customer orders and services that offer agile functioning within organizations due to the increasing convergence of networks and connectivity devices. Moreover, the shifting consumer preferences toward online shopping through e-commerce platforms and the widespread adoption of internet-enabled smartphones are positively influencing market growth. Additionally, the rising use of artificial intelligence (AI), machine learning (ML), and big data technologies for improved standardization and compatibility with existing systems is propelling market growth. Furthermore, numerous technological advancements, such as the development of next-generation telecom order management tools, have catalyzed market growth. Other factors, including rapid growth in the telecommunication industry, extensive infrastructural developments, and favorable government policies, are also anticipated to drive the market further.
Report Segmentation:
The report has segmented the market into the following categories:
Breakup by Component:
- Solution
- Customer Order Management
- Service Order Management
- Service Inventory Management
- Service
- Integration and Installation Services
- Consulting Services
- Support Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Large Organization
- Small and Medium Organization
Breakup by Network Type:
- Wireless
- Wired
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Competitive Landscape with Key Player:
- Cerillion
- Cognizant
- Comarch SA
- Fujitsu Limited (Furukawa Group)
- Infosys Limited
- International Business Machines Corporation
- Oracle Corporation
- Pegasystems Inc.
- Telefonaktiebolaget LM Ericsson
- Wipro Limited.
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