Report Scope & Overview:
Revenue Assurance Market size was valued at USD 5.17 Bn in 2022 and is expected to reach USD 10.98 Bn by 2030, and grow at a CAGR of 9.87% over the forecast period 2023-2030.
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.
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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.
MARKET DYNAMICS:
KEY DRIVERS:
The increased adoption of subscription-based economies.
Businesses are increasingly focusing on improving the consumer experience.
Automation solutions for revenue assurance are required.
RESTRAINTS:
Market progress is dependent on human-led services.
OPPORTUNITY:
BDT use id rising.
Increasing need for novel payment services: Telco-OTT collaboration.
CHALLENGES:
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.
MARKET ESTIMATION:
With a share in 2022, 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 2022, 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 2022, 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
Software
Services
On The Basis of Deployment Model
On-premise
Cloud
On The Basis of End-use
BFSI
Telecom
Healthcare
Retail
Energy & Utilities
Others
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REGIONAL ANALYSIS:
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.
REGIONAL COVERAGE:
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
KEY PLAYERS:
The major key players are IBM Corporation, Amdocs, Tech Mahindra, Tata Consulting Services, Ericsson, Subex Limited, Hewlett Packard, Accenture, Nokia, TransUnion & Other Players
Subex Limited -Company Financial Analysis
Report Attributes | Details |
Market Size in 2022 |
US$ 5.17 Bn |
Market Size by 2030 |
US$ 10.98 Bn |
CAGR |
CAGR of 9.87% From 2023 to 2030 |
Base Year |
2022 |
Forecast Period |
2023-2030 |
Historical Data |
2020-2021 |
Report Scope & Coverage |
Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
Key Segments |
• By Component (Software and Services) |
Regional Analysis/Coverage |
North America (USA, Canada, Mexico), Europe |
Company Profiles |
IBM Corporation, Amdocs, Tech Mahindra, Tata Consulting Services, Ericsson, Subex Limited, Hewlett Packard, Accenture, Nokia, TransUnion |
Key Drivers |
• The increased adoption of subscription-based economies |
Market Challenges |
• The demand for corporate assurance solutions is increasing |
Ans: - The Revenue Assurance Market size was valued at USD 5.17 Bn in 2022.
Ans: - Market progress is dependent on human-led services.
Ans: -The Revenue Assurance Market is to grow at a CAGR of 9.87% over the forecast period 2023-2030.
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. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Revenue Assurance Market Segmentation, by Component
8.1 Software
8.2 Services
9. Revenue Assurance Market Segmentation, by Deployment Model
9.1 On-premise
9.2 Cloud
10. Revenue Assurance Market Segmentation, by End-use
10.1 BFSI
10.2 Telecom
10.3 Healthcare
10.4 Retail
10.5 Energy & Utilities
10.6 Others
11. Regional Analysis
11.1 Introduction
11.2 North America
11.2.1 USA
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 France
11.3.4 Italy
11.3.5 Spain
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4 Asia-Pacific
11.4.1 Japan
11.4.2 South Korea
11.4.3 China
11.4.4 India
11.4.5 Australia
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.1 Israel
11.5.2 UAE
11.5.3 South Africa
11.5.4 Rest
11.6 Latin America
11.6.1 Brazil
11.6.2 Argentina
11.6.3 Rest of Latin America
12. Company Profiles
12.1 IBM Corporation
12.1.1 Financial
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.2 Amdocs
12.3 Tech Mahindra
12.4 Tata Consulting Services
12.5 Ericsson
12.6 Subex Limited
12.7 Hewlett Packard
12.8 Accenture
12.9 Nokia
12.10 TransUnion
13. Competitive Landscape
13.1 Competitive Benchmarking
13.2 Market Share Analysis
13.3 Recent Developments
14. Conclusion
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