DALLAS, USA: According to new research report "Convergent Billing Market by Solution (Customer Relationship Management, Settlement and Payment Management, Voucher Management, Mediation), and by Modes (Managed Services, Consulting Services, Training and Education) - Global Forecast to 2019", by MarketsandMarkets, defines and segments the Convergent Billing Market into various sub-segments with in-depth analysis and forecasting of revenues.
It also identifies drivers and restraints of this market with insights on trends, opportunities, and challenges.
The growth in telecommunication sector is expected to be a major driver for increasing demand for convergent billing solutions. Further driving force would be the wireless subscription market and smart devices market. The convergent billing communication platform enables a centralized interaction and facilitates communication among the end users.
The convergent billing market is expected to grow from $2.86 billion in 2014 to $7.88 billion by 2019, at an estimated CAGR of 22.2 percent from 2014 to 2019.