Communication is the medium through which both sender and receiver exchange their ideas. The communication service providers (CSPs) provide these communication channels. Owing to increasing use of such communication channels by the large customer base, pool causes congestion in the communication network, which leads to low efficiency and loss of revenue for the telecom providers. This is the biggest challenge faced by the service providers and telecom operators, which led to cause loss in potential businesses and cut down loyal subscriber base. Service fulfillment emerges as the savior for these businesses. It examines data related to parameters such as service, customer, price, network, and the market for insights so that it can improve customer experience and boost operational efficiency.
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Growing demand for services, which can provide efficient activation & provisioning of services, order & inventory management, and network management is expected to boost the global service fulfillment market. The major growth factor of the global market is leveraging order management that enhances the customer experience. CSPs emerge as a fastest growing trend, which provides cost-effective service and fulfills order on time. This is anticipated to fuel the global service fulfillment market growth in the near future. Rather than handling order efficiently, service fulfillment providers also assist telecom providers, similar vendor companies, and Internet service providers to manage functions of inventory management, network management, and critical business.
The global service fulfillment market is segmented based on service as system integration, planning and consulting, managed services, and operation and maintenance. Based on software, the global market is bifurcated as activation and provisioning, inventory management, service order management, and network management. On the basis of deployment type, the global service fulfillment market is categorized as on-premises and hosted.
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The service fulfillment market is geographically categorized as North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. North America is the biggest consumer of the service fulfillment due to acceptance of the service fulfillment in the telecom ecosystem. Europe is following the similar trend of widely spread Internet network in this region, which may fuel the global service fulfillment market in the coming years. Moreover, Asia Pacific shows a significant growth in the global market. Furthermore, Latin America and the Middle East & Africa also open great opportunities in the global service fulfillment market.
Key players in the global service fulfillment market are Oracle, Alcatel-Lucent, CISCO, Ericsson, and IBM. Other players dominating the global market are Huawei, Amdocs, Accenture, NEC, and HP.
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