LAMEA Convergent Billing Market Size, Share & Industry Trends Analysis Report By Offering, By Deployment (On-premise and Cloud), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Convergent Billing Market would witness market growth of 26.6% CAGR during the forecast period (2022-2028).
Billing convergence would also result in accelerating innovation throughout the world. In tandem with subscription-based core services, application-based services are likely to drive a rise in billing and payment transactions. In addition, the number of payment choices available to customers is anticipated to grow as electronic banking services become more widely available.
It will automatically complicate the technique of collecting payments through many payment providers. In such a scenario, convergent billing systems that are supplemented by APIs can be a valuable resource. In addition to facilitating the usage of the vendor's payment gateways, APIs simplify the implementation of new needs. APIs provide quick access to vendor alliances and capabilities without the requirement for extensive billing software development.
The development of smartphones has radically altered the telecom sector landscape. Smartphones nowadays perform functions beyond the transmission of text and voice messages. Therefore, unlimited data plans are more vital than ever, compelling service providers to provide a variety of offerings in order to thrive. The use of communications technologies has expanded significantly over the previous decade. The proliferation of cell phone subscribers has increased the billing database that telecom providers must manage.
The UAE, a major hub for international business and commerce in the Middle East and North Africa (MENA) region, is a competitive ICT market. In an effort to lessen reliance on oil revenues and expand the private sector, the UAE government aims to develop a competitive skilled workforce and establish an accessible, efficient, effective, and internationally integrated business environment. The UAE government is pursuing a number of measures to advance the knowledge-based economy.
The Brazil market dominated the LAMEA Convergent Billing Market by Country in 2021; thereby, achieving a market value of $1,038.6 million by 2028. The Argentina market is showcasing a CAGR of 27.3% during (2022 - 2028). Additionally, The UAE market would register a CAGR of 26.3% during (2022 - 2028).
Based on Offering, the market is segmented into Solution (Customer Relationship Management, Settlement & Payment Management, Mediation, Voucher Management, and Others) and Services (Consulting Services, Managed Services, and Customization Services). Based on Deployment, the market is segmented into On-premises and Cloud. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, MIND C.T.I. LTD, CSG Systems International, Inc., Comarch SA, Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Nokia Corporation, Optiva, Inc., Amdocs Limited, Sterlite Technologies Limited and IDI Billing Solutions.
Scope of the Study
Market Segments Covered in the Report:
- Customer Relationship Management
- Settlement & Payment Management
- Voucher Management
- Consulting Services
- Managed Services
- Customization Services
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- SAP SE
- MIND C.T.I. LTD
- CSG Systems International, Inc.
- Comarch SA
- Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.)
- Nokia Corporation
- Optiva, Inc.
- Amdocs Limited
- Sterlite Technologies Limited
- IDI Billing Solutions
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