Rise in connectivity devices and subscribers, increase in demand for network installations across rural areas, and cost-effective business processes to gain a competitive edge in the industry augment the growth of the global telecom order management market. Based on components, the service segment is expected to portray the fastest growth rate during the forecast period. The market across the North America region held the lion's share in 2018.

Portland, OR, Aug. 04, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global telecom order management market garnered $2.24 billion in 2018 and is estimated to reach $6.50 billion by 2026, growing at a CAGR of 14.30% from 2019 to 2026. The report offers a detailed analysis of key market dynamics, key winning strategies, major segments, pricing, Porter’s Five Forces, and competitive landscape. 

Rise in connectivity devices and subscribers, increase in demand for network installations across rural areas, and cost-effective business processes to gain a competitive edge in the industry augment the growth of the global telecom order management market. Conversely, requirement of highly proficient specialists to manage the telecom order hinders the market growth. On the contrary, integration of advance technology such AI, machine learning and big data and increase in demand from developing economies is anticipated to create lucrative opportunities in the near future.

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COVID-19 Scenarios:

• The telecom order management industry has witnessed an increased demand for suitable networking and infrastructure due to rise in remote working culture amid COVID-19.
• The restrictions on domestic and global business travel and surge in the use of connectivity devices, on the other hand, is anticipated to increase the productivity curve in the industry.
• However, the industry may observe a downturn in the front line services which involves field technicians and customer representatives who visit the customers.

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The global telecom order management market is segmented based on component, deployment model, organization size, network type, product type and region.

Based on components, the market is bifurcated into services and solution. The service segment is expected to portray the fastest CAGR of 16.9% during the forecast period. However, the solution segment held the largest share in 2018, accounted for nearly three fourths of the market.

Based on organization size, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprises segment held the largest share in 2018, contributing to nearly two-thirds of the market. However, the SMEs segment is projected to portray the fastest CAGR of 15.9% during the forecast period.

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Region wise, the market has been analyzed across North America, Asia-Pacific, Europe, and LAMEA. The market across the North America region held the lion's share in 2018, contributing to nearly two-fifths of the market. Contrarily, the Asia-Pacific region is anticipated to register the fastest CAGR of 16.4% during the forecast period.

Key market players analyzed in the report includes Wipro Limited, IBM Corporation, Oracle Corporation, Cognizant, Ericsson, Fujitsu Limited, Comarch SA, Cerillion, Pegasystems Inc., and Infosys Limited.

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