Changing landscape of Global Convergent Charging Software and Service market

LONDON - March 20, 2013 - PRLog -- In 2015, the Global Convergent Charging Software and Service market is likely to touch US$3.44 billion mark. It was valued at US$1.31 billion in 2011 and is estimated to be growing at a CAGR of 27.3 percent during 2011 to 2015. One of the key reasons for this exceptional growth is the increasing adoption of triple-play and quad-play services by telecom service providers. As more and more service providers are migrating from legacy charging software to convergent charging software the need for generating single invoice for both triple-play and quad-play services is also rising. Multiple factors like revenue growth, flexibility to offer various combinations of services, enhanced operational efficiency and reduction in billing errors are driving the operators to embrace convergent charging software.
The usual segmentation of subscribers on payment methods such as pre-paid post-paid or according to the type of service such as voice, data, and multimedia is fast losing its relevancy. And hence, many telecom operators are offering bundled services and promoting tariff plans based on subscriber usage. The ability to control over subscriber spending in order to decrease the credit risk and increase customer satisfaction for high-value, premium, and roaming services is forcing the operators to migrate from legacy telecom charging systems to convergent charging software.
The Global Convergent Charging Software and Service market is also evolving with the time. Initially, most of the growth is expected to come from software sales but revenue from convergent charging services is likely to grow significantly from 2013 onwards.
In the APAC region, which accounted for 39 percent of the Global Convergent Charging Software and Service market in 2011, China and India remain the biggest buyer. EMEA region accounted for 37 percent followed by North and Latin American countries with 24 percent market share.
Despite the growing demand for its adoption among various telecom service providers across geographies and continents the convergent charging software market is plagued by many challenges.
Demand for skilled and trained workforce, issues relating to scalability and data migration with existing telecom BSSs, lack of support for new business models, rapidly-changing technological advancements, industry standards, customer needs are some of the major growth inhibitors for the expansion of Convergent charging software market.
Notwithstanding these challenges the Global Convergent Charging Software and Service market is poised for rapid growth during the forecast period. Newer trends in the VAS (Value Added Services) arena like mobile money, real-time based convergent charging that prevents revenue losses for the operator, introduction of flexible pricing models for newer services in 3G and 4G (like LTE), SaaS based billing solutions for smaller operators are fueling the growth of Convergent charging software market.
The battle for market share among top vendors (like-Amdocs Ltd., Ericsson (LM) Tel-Sp Adr., Huawei Technology Co. Ltd., Comverse Technology Inc., and Telcordia Technology Inc.) is likely to grow further with the emergence of new smaller vendors like Comptel OYJ., Volubill S.A., and Orga Systems GmbH in the Convergent charging software market. New entrants in the market are offering integrated solutions that include charging policy and subscriber management functionality to woo new customers. Now, how this battle will play out is anybody's guess.
Report : http://www.technavio.com/content/global-convergent-chargi...