According to the latest report by IMARC Group, titled “Telecom Order Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global telecom order management market size reached US$ 3.5 Billion in 2022. Telecom order management is a technological solution that automates and streamlines order processing for communication service providers (CSPs). It includes receiving and processing orders, verifying customers’ eligibility, delivering services, shipping products, managing inventory, and maintaining records. It is widely used to optimize workflow, reduce costs, increase profitability, save time, manage complex operations, and improve communication with customers. Telecom order management is a highly efficient and cost-effective solution that aids in providing high-quality services, reducing errors, minimizing processing time, and enhancing customer satisfaction. It also offers detailed reports and analytics on key metrics, such as order volumes and delivery, which assist in improving services and optimizing the management process.
Telecom Order Management Market Trends:
The significant growth in the telecommunication industry across the globe is one of the primary factors driving the market growth. Telecom order management is widely used to simplify the order-to-cash process by streamlining product selection, improving the billing process, facilitating order tracking and modification, and eliminating redundancies, errors, and bottlenecks, which improves sales and operational efficiency, increases customer retention, enhances profitability, and builds trust. In addition to this, emerging trends of digitalization in the telecommunication industry to efficiently manage services, enable quick deployment, and gain a competitive edge are acting as another growth-inducing factor. Furthermore, the implementation of various government initiatives to promote connectivity in rural and remote areas by installing new telecommunication networks and infrastructure is providing an impetus to the market growth. Additionally, the recent development of next-generation telecom order management solutions capable of providing various services associated with fifth-generation (5G) communication technology, such as ultra-reliable low-latency communication (uRLLC), enhanced mobile broadband (eMBB), and massive machine-type communication (mMTC) is positively influencing the market growth. Apart from this, the integration of big data analytics, machine learning (ML), and artificial intelligence (AI) to improve standardization and interoperability, provide self-service capabilities, and offer all-around visibility is creating a positive outlook for the market. Other factors, including rising demand for cloud-based solutions, the rapid proliferation of smartphones, and the increasing internet penetration, are anticipated to drive the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 7.5 Billion by 2028, exhibiting a CAGR of 13.4% during 2023-2028.
- On the basis of the component, the market has been divided into solution (customer order, service order, and service inventory management) and service (integration and installation, consulting, and support services).
- Based on the deployment mode, the market has been bifurcated into on-premises and cloud-based.
- On the basis of the organization size, the market has been divided into large and small and medium organization.
- Based on the network type, the market has been bifurcated into wireless and wired.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the industry has also been examined, with some of the key players being Cerillion, Cognizant, Comarch SA, Fujitsu Limited (Furukawa Group), Infosys Limited, International Business Machines Corporation, Oracle Corporation, Pegasystems Inc., Telefonaktiebolaget LM Ericsson and Wipro Limited.
|Base Year of the Analysis
||Component, Deployment Mode, Organization Size, Network Type, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Cerillion, Cognizant, Comarch SA, Fujitsu Limited (Furukawa Group), Infosys Limited, International Business Machines Corporation, Oracle Corporation, Pegasystems Inc., Telefonaktiebolaget LM Ericsson and Wipro Limited
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