With a 10% compound annual growth rate, the revenue assurance market is expected to grow from its estimated $506 million in 2021 to $1.3 billion by 2031.
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"The Global Revenue Assurance Market 2021-2031 (USD Million)")
Revenue assurance is the process by which an operator ensures that revenues for services provided to customers and third parties are accurately billed, accounted for, and collected. It is a catch-all term for the activities that a company undertakes to ensure that its procedures and processes reduce revenue leakage. Leakages occur when revenue earned by the company and services rendered to the customer are lost on their way to billing systems and the customer is never debited. As a result, one of the major factors expected to drive the market during the forecast period is the increasing incidence of revenue leakages.
Changes in internal customer priorities, a mismatch between solution expectations and deliverables as a result of implementation issues or poor communication, and unknown or unforeseen invoicing and billing errors are just a few of the factors that contribute to revenue leakage. Revenue assurance promises to assist telecom providers in obtaining revenue for services they provide but are unable to charge for due to ineffective back-office practices such as record keeping, regulatory compliance, and accounting.
The global Revenue Assurance market size was estimated to reach over USD 575 Million in 2020, and projected to grow significantly with a CAGR of 8.5% over the forecast period. Revenue assurance is a more compelling option for carriers to improve profits than acquiring new customers or expanding into new markets due to its relatively low costs and quick payback. With cost and revenue leakages arising throughout the operator's business, it is critical to focus on identifying the source of revenue leakages, quantifying their magnitude, and addressing them holistically.
With the adoption of new access control and service delivery technologies, as well as the constant evolution of offerings, service providers are constantly confronted with revenue leakage issues, despite the increased awareness of the importance of revenue assurance. One of the potential causes of revenue loss that impedes an organization's ability to deploy effective risk-reduction strategies is a lack of transparency.
Revenue Assurance Market Scope
| Metrics | Details |
| Base Year | 2023 |
| Historic Data | 2018-2022 |
| Forecast Period | 2024-2031 |
| Study Period | 2018-2031 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2031 | $1.3 billion |
| Growth Rate | CAGR of 3.7 % during 2021-2031 |
| Segment Covered | Component, Deployment type, End User, Industry Vertical, Regions |
| Regions Covered | North America, Europe, Asia Pacific, South America, Middle East and Africa |
| Key Players Profiled | Accenture PLC, Hewlett Packard Enterprise Company, IBM Corporation, Tata Consultancy Services Ltd., Tech Mahindra Limited, Nokia Corporation, Itron, Inc., Subex Limited, Amdocs Limited, and Araxxe SAS and among other. |
Key Segments of the Global Revenue Assurance Market
Component Overview, (USD Million)
- Software
- Services
Deployment type Overview,(USD Million)
- Cloud
- On-premises
End User Overview, (USD Million)
- TSPs
- Enterprises
Industry Vertical Overview, (USD Million)
- BFSI
- Utilities
- Hospitality
- Telecom and IT
- Others
Regional Overview, (USD Million)
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Middle East and Africa
- UAE
- South Africa
- Rest of Middle East and Africa
South America
- Brazil
- Rest of South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Revenue Assurance market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global Revenue Assurance market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the Revenue Assurance industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Component, Deployment type, End User and industry vertical. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
- This study is suitable for industry participants and stakeholders in the global Revenue Assurance market. The report will benefit every stakeholder involved in the Revenue Assurance market.
- Managers within the Revenue Assurance industry looking to publish recent and forecasted statistics about the global Revenue Assurance market.
- Utilities organizations, regulatory authorities, policymakers, and organizations looking for investments in trends of the global Revenue Assurance market.
- Analysts, researchers, educators, strategy managers, and Utilities institutions looking for insights into the market to determine future strategies.
Frequently Asked Questions (FAQ) :
The revenue assurance market was valued at $1.3 billion in 2031 .
The revenue assurance market is growing at a CAGR of 3.7 % during the forecast period.
The base year for the report is 2023 in revenue assurance market.
The increasing introduction of advanced technologies and products lags in reconciliations, and poor team cohesion is causing a massive increase in network elements. The introduction of new technologies and the arrival of over-the-top (OTT) services increases competition from players with extremely disruptive business models, even in national markets. The market is highly competitive, resulting in a plethora of options for customers to select from. This has encouraged operators to invest in cutting-edge products and technologies.
These new services, along with tiered and bundled product plans and flat rates, have increased demand for billing, OSS, and BSS systems. Billing and collection, which were previously relatively simple tasks, have now become complicated. This has resulted in a greater demand for revenue assurance, which ensures that everything that should be paid and billed for is done at the right time, for all services across all cost and revenue streams in a streamlined manner. This, in turn, is expected to boost the overall market's growth in the near future.
Component Segment
Based on the Component segment, the market is classified into Software, and Services. The revenue assurance market is divided into four segments based on services: planning and consulting, implementation and customization, support and maintenance, and managed services. Companies that lack in-house revenue assurance capabilities outsource the functionality to expert Managed Service Providers (MSPs). Organizations are expected to increase their demand for revenue assurance managed services due to high costs and resource constraints.
Deployment type Segment
Based on the Deployment type, the market is segmented into Cloud, On-premises. The cloud segment is expected to grow at a faster CAGR during the forecast period, according to the deployment model. The growing adoption of revenue assurance solutions among small and mid-sized businesses is driving a significant increase in cloud-based revenue assurance solution deployment. Because these companies do not have the resources or capital to invest in physical servers and IT resources to support locally hosted solutions, cloud-based revenue assurance solutions are preferred.
End User Segment
Based on the End User, the market is segmented into TSPs and Enterprises.
Industry Vertical Segment
Telecom sector dominate the market share in the forecast period. This is due to an increase in telecom fraud, which is one of the primary causes of revenue leakages in the telecom industry. According to the Communications Fraud Control Association's (CFCA) Fraud Loss Survey, telecom operators lose USD 29.2 billion per year, or 1.27 percent of global telecom revenues, to a variety of revenue frauds.
North America is made up of developed countries with well-established infrastructures, ISPs, and CSPs, all of which drive a high demand for revenue assurance solutions in the region. The United States and Canada contribute the most to the North American market; the reason for their dominance is their well-established economies, which enable significant investments in new technologies such as 5G and network virtualization. Other major factors influencing revenue assurance solution adoption in the region include an increase in subscription-based data, the presence of major revenue assurance vendors, and improved telecom network infrastructure.
.png "North America Revenue Assurance Market 2019-2028 (USD Million)")
The major players of the global Revenue Assurance market Accenture PLC, Hewlett Packard Enterprise Company, IBM Corporation, Tata Consultancy Services Ltd., Tech Mahindra Limited, Nokia Corporation, Itron, Inc., Subex Limited, Amdocs Limited, and Araxxe SAS and among other. These players have adopted various strategies, such as new product launches, partnerships, agreements, collaborations, mergers & acquisitions, and business expansions to cater to the needs of the Revenue Assurance market. Renowned companies are offering new and modern Revenue Assurance Software Components. Besides, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and Components and to remain competitive in the global market