Report Id: SNS/ICT/2277 | July 2022 | Region: Global | 129 Pages
Report Scope & Overview:
The Revenue Assurance Market size was valued at USD 4.71 Bn in 2021 and is expected to reach USD 9.12 Bn by 2028, and grow at a CAGR of 9.87% over the forecast period 2022-2028.
Revenue assurance is a collection of actions or concepts that enable firms to correctly capture revenue for all items sold or services rendered. Instead of identifying and correcting financing errors after they occur, or not identifying and correcting them at all, revenue assurance principles or tools enable businesses to examine and fix current or potential revenue leakage points throughout networks and intermediate client- and customer-facing systems, and correct the data before it reaches the organization's billing systems.
Though the primary goal of any revenue assurance system is to detect and prevent revenue leakage, technologically advanced revenue assurance systems also assist companies in improving and automating their traditional revenue assurance detection and monitoring processes, as well as detecting and preventing fraud and data inconsistencies.
Products and services-based firms confront several obstacles and issues today, ranging from extending their customer base in saturated markets to managing the fast-growing consumer base in new countries. Markets with many suppliers also offer organizations an extremely competitive environment that necessitates constant innovation and technical improvement to acquire a competitive edge in the market.
The increased adoption of subscription-based economies.
Businesses are increasingly focusing on improving the consumer experience.
Automation solutions for revenue assurance are required.
Market progress is dependent on human-led services.
BDT use id rising.
Increasing need for novel payment services: Telco-OTT collaboration.
The demand for corporate assurance solutions is increasing.
Economic slump and Coronavirus outbreak.
IMPACT OF COVID-19:
In the context of the COVID-19 pandemic, leading companies in the revenue assurance industry guarantee that the COVID-19 issue has a low commercial impact on their clients. Telecommunications businesses are focusing on improving network resilience and assessing how COVID-19 would affect their planned investments, notably in 5G. Companies are also implementing improvements to benefit clients who want networking services at this time, but in certain nations, data is being utilized as a tool to track and control the virus's spread.
With a share in 2021, the software category led the market and is predicted to retain its dominance throughout the forecast period. This is because very adaptable and creative revenue assurance software is now available. Revenue assurance software, which innovative process-driven technique greatly assists service providers and improves their commercial and financial performance by finding revenue leakages inside the targeted network. The service sector is predicted to grow at the fastest rate throughout the projection period. Planning and consulting, operations and maintenance, system integration, and managed services are all sub-segments of this market. Several end-user verticals throughout the world are gradually embracing revenue assurance software and services to mitigate the consequences of revenue leakages.
In terms of revenue, on-premise led the market in 2021, with a share. The extraordinary security provided by this industry is primarily responsible for its rise. Critical data may be stored on-premises without the need for third-party access. Despite the growing popularity of the cloud model, on-premise solutions may continue to meet the business demands of many enterprises. Data security is required for both on-premise and cloud deployments. As a result, security is a top priority for many firms. Over the projected period, the cloud sector is predicted to grow at the fastest CAGR. A paradigm shift from on-premise to cloud computing is expected to provide a variety of industry possibilities in the coming years. The cloud enables operators to manage revenue and fraud with more speed, agility, and effectiveness.
In terms of revenue, the telecom sector dominated the market in 2021, with a share that is predicted to expand the quickest during the projection period. This is due to an increase in telecom fraud, which is one of the primary causes of income leakages in the telecom business. Revenue leaks have long plagued telecom behemoths. With the increasing competition from merging media such as the internet, telecom goods must combine quicker as well as better technology to meet the regulatory bodies' requirements. Over the projection period, the BFSI industry is expected to increase at a robust rate. Revenue leakage happens in nearly every department of a bank. Both business and retail clients may be contributing to the income loss. Revenue assurance programs are yielding excellent outcomes in the banking industry, creating several market development potentials.
KEY MARKET SEGMENTS:
On The Basis of Component
On The Basis of Deployment Model
On The Basis of End-use
Energy & Utilities
North America is made up of industrialized countries with well-established infrastructures, ISPs, and CSPs, all of which drive a high need for revenue assurance solutions in the area. The United States and Canada contribute the most to the North American market; the reason for their dominance is their well-established economies, which permit significant expenditures in new technologies such as 5G and network virtualization. Other key variables influencing revenue assurance solution adoption in the region include an increase in subscription-based data, the presence of large revenue assurance suppliers, and improved telecom network infrastructure.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The major key players are IBM Corporation, Amdocs, Tech Mahindra, Tata Consulting Services, Ericsson, Subex Limited, Hewlett Packard, Accenture, Nokia, TransUnion
|Market Size in 2021||
US$ 4.71 Bn
|Market Size by 2028||
US$ 9.12 Bn
CAGR of 9.87% From 2022 to 2028
|Report Scope & Coverage||
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
• By Component (Software and Services)
North America (USA, Canada, Mexico), Europe
IBM Corporation, Amdocs, Tech Mahindra, Tata Consulting Services, Ericsson, Subex Limited, Hewlett Packard, Accenture, Nokia, TransUnion
• The increased adoption of subscription-based economies
• The demand for corporate assurance solutions is increasing
Frequently Asked Questions (FAQ) :
Ans: - The Revenue Assurance Market size was valued at USD 4.71Bn in 2021.
Ans: - Market progress is dependent on human-led services.
Ans: -The segments covered in the Revenue Assurance Market report for study are On the Basis of Component, Deployment Model, and End-use.
Ans. The primary growth tactics of Revenue Assurance market participants include merger and acquisition, business expansion, and product launch.
Ans: - The study includes a comprehensive analysis of Revenue Assurance Market trends, as well as present and future market forecasts. DROC analysis, as well as impact analysis for the projected period. Porter's five forces analysis aids in the study of buyer and supplier potential as well as the competitive landscape etc.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID 19 Impact Analysis
4.2 Impact of the Ukraine- Russia war
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Revenue Assurance Market Segmentation, by Component
9. Revenue Assurance Market Segmentation, by Deployment Model
10. Revenue Assurance Market Segmentation, by End-use
10.5 Energy & Utilities
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1 IBM Corporation
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.3 Tech Mahindra
12.4 Tata Consulting Services
12.6 Subex Limited
12.7 Hewlett Packard
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
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