Telecom Order Management Market size is expected to grow $3.22 Billion by 2022

(IT-NEWSWIRE.COM, May 28, 2019 ) According to a new market research report "Telecom Order Management Market by Solution (Customer Order Management, Service Order Management, and Service Inventory Management), Service, Network Type (Wireline and Wireless), Deployment Type, and Region - Global Forecast to 2022", published by MarketsandMarkets™ the Telecom Order Management Market size is expected to grow from USD 1.96 Billion in 2017 to USD 3.22 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period.

The growing adoption of telecom order management is the result of the high demand for automated handling of the ordering process and for features of tracking the entire order life cycle.

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Wireline network type is expected to have the larger market size during the forecast period.

The wireline network type is expected to have the larger market size as compared to the wireless network type during the forecast period. Wired networks comprise copper cables, coaxial cables, and sometimes fiber optics to set up the connections. Wireline network is also known as the Ethernet network. These wired network connections are not prone to single point of failure, thus, they offer a much faster speed than dial-up connections.

Consulting services segment is expected to be the fastest growing segment during the forecast period.

Under services, the consulting services segment is expected to have the highest CAGR during the forecast period. Consulting services prominently help companies identify strategies that analyze, protect, and manage their crucial master content. These services also help organizations seamlessly align their telecom order management solutions that primarily suit their business requirements. Therefore, consulting services offer various advantages, such as assistance in decision-making, improved business processes, simplified management, cost-effective operations, and increased productivity.

North America is expected to have the largest market size in the Telecom Order Management Market during the forecast period.

North America, owing to the presence of a large number of telecom order management vendors, is expected to have the largest market size in the Telecom Order Management Market during the forecast period. Asia Pacific (APAC) is expected to be the fastest growing region. With the evolution of digital transformation in APAC, the need for managed IT services has experienced an increasing demand. Furthermore, the rapid economic growth in the developing APAC countries, along with improving regulatory reforms and economic stability, is driving the growth of the Telecom Order Management Market in this region. The market in developing regions, such as the Middle East and Africa (MEA) and Latin America, is expected to grow, owing to the growth in demography and data connectivity, increase in mobile penetration, and growth in infrastructure and coverage of the telecommunication industry.

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Key players in the Telecom Order Management Market include Cerillion (US), Cognizant (US), Ericsson (Sweden), IBM (US), Oracle (UK), ChikPea (US), Comarch (Poland), Fujitsu (Japan), Intellibuzz (India), Mphasis (India), Neustar (US), and Pegasystems (US).

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Telecom Order Management Market size is expected to grow $3.22 Billion by 2022