The global telecom software professional services market is expected to grow at a CAGR of more than 8 percent and reach $78 billion by 2021 — driven by LTE network roll outs, according to Technavio.
Growing demand for cloud-based BSS, increase in the adoption of telecom software and increased deployment of LTE networks are contributing to the growth of the telecom software professional services market.
Most of the CSPs are providing cloud-based business support systems (BSS) model to SMEs to ensure better manageability of resources.
Telecom operators require vendors that can offer professional services from design consulting, business consulting, tailored development for new features and use cases, systems integration, and hosted managed services with the standard product related services.
With the increasing adoption of M2M solutions in vertical industries, service operators have been focusing much on delivering a real-time experience to customers
“Cloud-based BSS deliver business agility and scalable IT infrastructure. This feature of cloud-based services helps overcome the complexities of hardware, licenses management, and software,” said Sunil Kumar Singh, a lead analyst at Technavio for IT professional services research.
Revenue management system (RMS) has undergone an extreme shift from traditional basic billing and charging procedures, and accounting function to new platform that establishes new revenue streams. This system includes features such as pricing management, credit limit management, invoicing, payments, and rating and charging.
The payment processes for postpaid and prepaid plans across enterprise and retail domains have started converging into a single revenue management function. Maintaining and enhancing customer related services are the crucial tasks of the telecom operators. RMS helps achieve lower operations cost by minimizing errors and increasing automation.
Telecom software supports telecommunications companies to achieve effective order and fraud management, revenue management, and customer relationship management (CRM). Increased adoption of LTE networks will also drive the telecom software and professional services market globally.