The Service Fulfillment Market expected to register a CAGR of approximately 10% during the forecast period (2022-2031).
-Service providers are developing capabilities to provide services while reducing time-to-market for next-generation products and services, due to the introduction of certain technologies in industries. Technologies such as IoT, Connected Devices, 5G Technology, Digitization, and many more are increasing the need for an enhanced connectivity solution.
– For example, digital workflow company, ServiceNow, has introduced new products for the telecommunications and financial services industry and delivered industry -specific workflows to assist companies in accelerating their digital transformation. ServiceNow has also formed a strategic partnership with KPMG to support healthcare providers as they digitize clinical and business workflows. Such activities are expected to complicate the timely completion of supply chain activities of companies, therefore, increasing the demand for enhanced service fulfillment solutions.
-A dynamic service or software fulfillment process enables the creation of component-based services and simplifies the launch of new products. It will automate the order-to-cash process to optimize supply chain activities, capital expenditures, and operating costs. Supply chain management solutions streamline the acquisition of network equipment while rationalizing the supplier ecosystem.
-Furthermore, automation drives business productivity, which is always desirable. The challenge is to achieve this economically. The cloud has been great at streamlining automation and utilizing IT infrastructures such as virtualization and server configuration. However, network automation has become slower to evolve due to higher levels of complexity, especially in communication service provider (CSP) networks, which often cross over more domains (cloud, mobile, WAN, and IT) and requires a higher level of investment.
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Major Market Trends
Network Automation Expected to Dominate
– The launch of several technological advances, such as 5G technology, IoT, AI, Digitization, and many more, Communication Service Providers (CSPs), are faced with constant pressure to improve and exceed rising customer expectations while minimizing operating costs, with minimal visibility overall. platforms, systems, tools, and data fragmentation.
– With a growing number of users, connected devices, mobile devices, applications, and deployment of advanced technologies and capabilities, they are increasing reliance on enhanced network infrastructure and enhanced connectivity solutions for essential broad -based connectivity. set of endpoints.
– Subsequently, organizations and CSPs are increasingly investing in new network architectures that incorporate advanced management tools to encourage the use of autonomous networks, which use technologies such as AI and ML. Therefore, CSPs liaise with service Fulfillment solution providers to improve their supply chain activities.
– For example, ServiceNow plans to launch Telecommunications Service Management and Telecommunications Network Performance Management, which will provide new workflows that connect customer service and network operations, including Proactive Customer Care and Automated Service Assurance.
-Another market trend is the need for continuous evaluation and performance of networks, due to increased network traffic and network processing, especially from local area networks, which require real-time streaming network analytics and allows customers to monitor the health of their network and continuously monitor traffic flow.
-It also provides multi-dimensional visualization of application performance, network security, and usage, thus, allowing companies to evaluate and mitigate issues at the site level, application dimension, or individual IP address faster than ever before, thus significantly improving the end-user experience.
North America is Expected to Dominate the Market
– The North America region is witnessing increasing demand for service fulfillment solutions, due to increasing demand for enhanced connectivity solutions across various platforms, such as video streaming, video calling platforms, teleconferencing , among others.
– This, along with the rapid increase in the number of subscribers to various networks such as 2G, 3G, 4G, 5G, etc. is driving players to use the fulfillment of the service. For example, According to Ericcson’s Mobility Report in June 2019, the region is expected to have nearly 270 million 5G subscriptions worth more than 60 percent of mobile subscriptions.
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– According to Genesys, a vendor in the market, more than 65% of U.S. government agency employees said the customer experience is a priority. An important part of the equation is a powerful omnichannel customer experience platform that easily allows agencies to connect with constituents anytime, anywhere. Minimizing costs, Timely service activation and providing according to technical and business terms defined in many northbound BSS (Business support systems) is the goal of market fulfillment of the service, thus proving to be an ideal solution for vendors.
– Also, the region has become a major hub for 5G rollout, where Canadian service providers are increasingly investing in obtaining 5G licenses. For example, in April 2019, wireless carrier Rogers obtained a 20-year license for USD 1.7 billion dollars and 600MHz spectrum covering Ontario, Northern Quebec, Atlantic Canada, Manitoba, and all three territories. Such opportunities drive players to seek service fulfillment that will enable them to provide uninterrupted services to its customers.
Competitive Landscape
The competitive landscape of the Service Fulfillment Market is expected to move towards moderate fragmentation, due to the gradual emergence of solution providers, along with its increased adoption in various end-user industries. Solution providers aim to provide innovative solutions to service providers in various industries. Solution providers strategically collaborate with different companies in several industries, to enable them to deploy service fulfillment solutions in their supply chain operations.
-January 2020-Telecom Fiji Limited partnered with Oracle Communications to modernize customer interaction and expedite the delivery of new products and services to customers. This will help the company address the challenge posed by the telecommunications industry and digital disruptors, and help communications service providers (CSPs) traditional business models and customer relationships move quickly towards a 5G. in the world.
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