Top 8 Telecom Order Management Companies: Key Drivers for Future Revenue Growth Statistics 2024

 

Overview

Telecom order management systems assist companies in automating service fulfillment tasks and enhancing customer service delivery. The global telecom order management market is expected to grow from USD 3.56 Billion in 2023 to USD 9.56 Billion by 2033, at a CAGR of 10.38 % during the forecast period 2023-2033. The telecom industry has seen a rise in the adoption of telecom order management solutions due to the increased availability of services and support for both cloud and on-premise deployments.

 

Competitive Landscape

Intense competition exists among top industry players in the global telecom order management market, as they compete to gain market share with innovative and effective solutions. Cerillion (US), Cognizant (US), Ericsson (Sweden), IBM (US), and Oracle (UK) are all important players who are using innovation, scalability, and customer-centric strategies to compete effectively. Businesses often participate in mergers and acquisitions in order to expand their range of products and increase their international presence. Up-and-coming players frequently target specific market segments with unique solutions to set themselves apart. The market dynamics in the telecom sector are influenced by the continual requirement for efficient order processing, quick technological progress, and increased use of cloud-based services. In April 2024, Amdocs Limited took a major step by introducing the Amdocs Smartbot, an AI-driven digital assistant aimed at improving customer experience with personalized and efficient assistance.

 

Telecommunications Act 2023: Key Changes and Market Impacts in North America and APAC

The Telecommunications Act 2023, coming into effect on June 26, 2024, brings about notable modifications by establishing Digital Bharat Nidhi to finance research and development instead of solely focusing on rural telecom services. It permits the central government to manage telecom services in times of emergencies for security and public safety purposes. Telecommunication companies must have government approval to run networks or own equipment. The Act is set to substitute current laws from the Indian Telegraph Act, of 1885, and the Wireless Telegraphy Act, of 1933. Announcements regarding spectrum allocation and adjudication sections will be made at a later time. Furthermore, it is anticipated that North America will hold the biggest portion of the telecom order management market in the upcoming forecast period. Due to the growth of Long-Term Evolution (LTE) networks in the area, Communication Service Providers (CSPs) are seeking fresh, creative ideas to streamline their 4G/LTE business models, enhance customer service, and evaluate service quality and performance. These factors are contributing to the expansion of the North American region. APAC is projected to experience the highest Compound Annual Growth Rate (CAGR) in the future, due to the existence of reputable organizations in the region that are slowly integrating advanced technologies.

 

The report provides a summary of the global top trends and future prospects for the global telecom order management market based on historical data sets (current trends, industry statistics, and emerging trends shaping the telecom order management industry’s future, preliminary estimates from 2020-2021, 2022, and 2023), as well as projections for the global telecom order management trends and future prospects for global regions in 2024 and 2025. This data-driven research offers users an industry-wide view of emerging technologies and innovative insights to help them make critical business decisions. 

 

Growth Factors and Emerging Trends in the Telecom Order Management Market

 

1. Sharp Rise in The Number of Connected Devices and Users

There has been a noticeable rise in internet users in recent years, due to various government initiatives. An example would be research done in India which predicts a 40% increase in internet users and a 50% rise in smartphone users by 2023 in the country. The growth in smartphone usage and the increase in online shopping have resulted in the implementation of telecom order management. For example, based on a survey, the percentage of cash transactions in overall consumer spending within the nation decreased from 78% in 2015 to 68% in 2017 in India. Moreover, there has been a rise in the number of internet users in countries like India, China, and Japan.

 

Opportunities and Future Prospects in the Telecom Order Management Market

 

Incorporation of advanced technology like AI, machine learning, and big data.

Various sectors are undergoing quick changes by implementing machine learning, artificial intelligence, and big data analytics in the management of telecommunications orders. For example, numerous telecommunications companies have implemented cutting-edge technologies in telecom order management to enhance efficiency and ensure heightened security. Many companies have implemented AI-driven telecom order management solutions to improve various functions like automated processes, self-service capabilities, sensor technology, seamless coordination, and comprehensive visibility. Furthermore, the utilization of machine learning and big data enables organizations to effectively oversee all applications at the same time, as there is total transparency with highly complex analytics operations running in the background.

 

List of Key Companies in the Telecom Order Management Market

• IBM Corporation
• Oracle Corporation
• Cognizant
• Ericsson
• Fujitsu Limited
• Pegasystems Inc.
• Infosys Limited
• Wipro Limited
• Comarch SA
• Cerillion
• Others

 

Top 5 Key Players Profile in the Telecom Order Management Market

 

1. IBM

 

Headquarters: Armonk, New York, NY

IBM, also known as International Business Machines Corporation, is a worldwide technology and consulting firm well-known for its creative advancements in the IT sector. Established in 1911 and based in Armonk, New York, IBM focuses on a variety of products and services such as cloud computing, artificial intelligence, hardware, software, and consulting services. With a significant history of leading technological innovations, IBM has played a crucial role in influencing the current computing environment. The company has a wide range of technologies in its portfolio, including advanced ones like quantum computing and blockchain. IBM is recognized for its dedication to research and development, leading to many patents and revolutionary innovations. IBM assists clients in different sectors by utilizing its wide-reaching global network to harness technology for solving challenging issues and facilitating business innovation.

 

2. ORACLE

 

Headquarters: Austin, Texas

Oracle Corporation is a top technology company worldwide that focuses on database software, cloud solutions, and enterprise software products. Founded in 1977 and based in Austin, Texas, Oracle is well-known for its wide range of database management systems and enterprise applications that help with data management, analytics, and business operations. The company provides cloud infrastructure services such as computing, storage, and networking, along with advanced solutions in artificial intelligence, machine learning, and enterprise resource planning (ERP). Oracle's products are created to assist businesses in optimizing their IT infrastructure and utilizing data to promote innovation and efficiency. Oracle, focusing on technological progress and customer-focused answers, serves a variety of global sectors like finance, healthcare, retail, and government, helping businesses improve efficiency and acquire valuable insights.

 

3. COGNIZANT

 

Headquarters: Teaneck, New Jersey

Cognizant Technology Solutions, based in Teaneck, New Jersey, is a top worldwide provider of professional services and IT consulting. Founded in 1994, Cognizant is an expert in digital transformation, technology consulting, and IT services, offering creative solutions to assist businesses in adapting to the changing digital environment. The company provides a variety of services such as software development, IT infrastructure management, cloud computing, artificial intelligence, and business process outsourcing. Cognizant has knowledge in a wide range of sectors such as financial services, healthcare, manufacturing, and retail. Focused on using technology to enhance business growth and efficiency, Cognizant blends industry expertise with advanced technology to provide tailored solutions for its worldwide clients.

 

4. ERICSSON

 

Headquarters: Kista, Stockholm

Ericsson, based in Stockholm, Sweden, is a top player in telecommunications and networking technology worldwide. Established in 1876, Ericsson has led the way in technological advancements within the telecommunications sector, offering a wide variety of products and services including network infrastructure, mobile broadband, and IoT solutions. The company is famous for its innovative efforts in 5G technology, leading the advancement of mobile networks and facilitating next-generation connectivity. Ericsson offers a range of products and services to help telecom operators provide efficient networks and user-friendly experiences. Ericsson is devoted to shaping the future of communication and connectivity worldwide through research and development, collaborating with telecom operators and businesses to enhance digital transformation and network capabilities.

 

5. WIPRO

 

Headquarters: Bangalore, Karnataka

Wipro Limited, headquartered in Bengaluru, India, is a prominent global company offering IT services and consulting. Established in 1945, Wipro has transformed from its beginnings in the vegetable oil sector to become a key player in the tech industry, offering a wide array of services such as IT consulting, system integration, cloud computing, cybersecurity, and business process outsourcing. The company is recognized for its emphasis on digital transformation and innovation, utilizing technologies like artificial intelligence, machine learning, and data analytics to achieve positive results for its varied customers. Wipro provides services to a variety of sectors such as banking, healthcare, manufacturing, and retail, focusing on providing customized, high-quality, and scalable solutions to meet the specific requirements of each customer. Wipro's worldwide reach and deep focus on sustainability and corporate responsibility highlight its position as an innovative leader in the IT services sector.

 

Recent Developments

 

• In April 2024, A new AI-driven digital assistant solution named Amdocs Smartbot was launched by Amdocs Limited. The main goal of this solution is to improve the customer experience by providing personalized and effective customer service.

 

• In September 2023, Prodapt, a digital and network services provider, announced a collaboration with ServiceNow to assist telecom operators in expanding their TMT business in the telecom, media, and tech industries.

 

• In May 2022, TPG Telecom reached a major achievement as the initial provider in Australia to integrate G.Fast technologies. This new strategy combines pair-bonding, vectoring, and phantom mode to improve network performance.

 

• In November 2021, Nokia introduced a variety of Software-as-a-Service options designed specifically for communication service providers. This release marks an important achievement in offering operators affordable and adaptable solutions, prioritizing customer happiness, improving network efficiency, and introducing innovative services.

 

About the Spherical Insights & Consulting

Spherical Insights & Consulting is a market research and consulting firm which provides actionable market research study, quantitative forecasting and trends analysis provides forward-looking insight especially designed for decision makers and aids ROI.

Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements. 

 

CONTACT US:

For More Information on Your Target Market, Please Contact Us Below:    

Phone: +1 303 800 4326 (the U.S.)

Phone: +91 90289 24100 (APAC)

Email: inquiry@sphericalinsights.com, sales@sphericalinsights.com

Contact Us: https://www.sphericalinsights.com/contact-us

Follow Us: LinkedIn | Facebook | Twitter