Global Convergent Billing Market Report and Forecast 2024-2032

Global Convergent Billing Market Outlook

The global convergent billing market size reached a value of approximately USD 15.10 billion in 2023. The market is projected to grow at a CAGR of 18% between 2024 and 2032, reaching a value of USD 66.98 billion by 2032.

Key Trends in the Market

Convergent billing is a solution which allows the unification of various service charges onto a single customer invoice, simplifying invoice amlong with revenue management. The process enables the operators to create a single document for multiple preceding documents.

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• Telecom firms usually have large accounts, which may lead to countless errors and data complications. The adoption of convergent billing reduces the chances of error, benefitting both the firm and the user.

• The rise of digital transformation and increasing investments by the key players and the governments across the globe in advanced technologies, such as the Internet of Things, big data, and artificial intelligence, are aiding the convergent billing market growth.

• The advantages associated with convergent billing, such as reduced cost of the billing process, multiservice pricing and packaging, and centralised customer support, are further enhancing the demand for convergent billing solutions and services.

Global Convergent Billing Market Analysis

Based on component, the market is segmented into solution and services. The solution segment is further classified into bill cycle optimisation, billing account management, automated invoice and bill generation, payment and collection, and customer relationship management.

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On the basis of deployment type, the market is bifurcated into cloud based and on-premises. By organisation size, the market is categorised into small and medium size enterprises and large size enterprises. Based on region, the market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global convergent billing market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.

• IBM Corporation

• Amdocs, Inc.

• CSG Systems International, Inc.

• Huawei Technologies Co., Ltd.

• Nokia Oyj

• Oracle Corporation

• Telefonaktiebolaget LM Ericsson

• ComArch SA

• Sterlite Technologies Limited

• Others

Market Share by Deployment Type

The on-premises segment held a considerable share of the market owing to its ability to install hardware and software which is required to operate and maintain the convergent billing software on the user’s system. Their instalment on the customer’s device confirms non-involvement of a third party, ultimately offering extra security to the users.

Cloud based billing systems are anticipated to observe a significant growth over the forecast period because of their convenience and scalability. Moreover, it reduces overhead infrastructural cost and deployment time which is further boosting  its adoption by consumers all across the globe.

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Market Share by Region

North America accounted for a significant share of the convergent billing market, owing to the presence of a number of key market players in the region, such as CSG Systems International, Inc. and Amdocs Inc., among others. Early adoption of technology by individuals and organisations in North America is a major factor boosting the utilisation of convergent billing. Countries such as Canada and the United States are increasingly investing in cloud platforms and 5G technologies to provide enhanced customer experience, resulting in increased demand for convergent billing.

Competitive Landscape

IBM Corporation was founded in 1911 and is headquartered in New York, United States. It is a multinational technology company that is known for its hardware and software products such as computer, storage systems, and servers, among others.

Amdocs, Inc. is a software company that was founded in 1982 and is headquartered in Missouri, United States. The company provides software and services for media, communications, and financial service providers and digital enterprises.

CSG Systems International, Inc. was established in 1994 and has its headquarters located in Colorado, United States. The company provides business support systems (BSS) services and software, mainly for the telecommunications sector.

Other major convergent billing market players include Huawei Technologies Co., Ltd., Nokia Oyj, Oracle Corporation, Telefonaktiebolaget LM Ericsson, ComArch SA, and Sterlite Technologies Limited, among others.

Key Highlights of the Report