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. However, the requirement of highly proficient specialists to manage the telecom order hampers market growth. On the contrary, integration of advanced technology such AI, machine learning and big data and increase in demand from developing economies is expected to create lucrative opportunities soon.
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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.
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 the 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 service segment is expected to show the fastest CAGR of 16.9% during the forecast period, owing to an increase in need for various 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.
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.
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Based on region, the global telecom order management market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors driving the growth of the market in this region includes the expansion of long-term evolution networks in this region and various new innovative solutions introduced by various service providers for better customer service and improving the quality and performance of the service. However, Asia-Pacific is expected to witness the highest growth rate during the forecast period, due to rapid digital transformation and surge in demand for managed IT services.
The key players profiled in the telecom order management market analysis are IBM Corporation, Oracle Corporation, Cognizant, Ericsson, Fujitsu Limited, Pegasystems Inc., Infosys Limited, Wipro Limited, Comarch SA, and Cerillion.
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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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