Expanding customer accounts coupled with growing complexity to manage customer accounts, payments, and balances within the enterprises drives the demand for revenue management market
Increasing significance for identifying profitability and value that the customers bring to the organizations, along with rising preferences for mitigating and detecting revenue losses with automated payment processing systems and integrated workflows by the business is likely to augment the growth for the industry over the forecast period. Hence, the market size for global revenue management is anticipated to reach USD 28 billion by 2025.
Growing focus on integrating marketing, commerce, sales, billing, accounts, and service, to decrease the operating expenses and enhance business processes is likely to draw focus on revenue management solutions. However, complexity in integrating with the current infrastructure and high implementation expenses is probably to hinder revenue management growth.
The market is segmented into IT & telecom, hospitality, transportation, healthcare, retail, BFSI, utilities, and others. The market for the IT & telecom sector is anticipated to possess the largest market share in 2019. Enterprises today are predominantly developing to match their user needs. The revenue management solution suite provides companies and the communication service providers who are proactive within the IoT business with tools to manage the overall billing life cycle.
The report also throws light on various aspects of global revenue management by assessing the market using value chain analysis. The report covers several qualitative aspects of the revenue management industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global revenue management market has strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The global personal market is a wide range to North America, Europe, APAC, South America, and the Middle East & Africa. North America is considered a mature market in the revenue management storage, owing to an outsized presence of an organization with the availability of technical expertise and advanced IT infrastructure. The US and Canada are the highest contributory countries to the expansion of the revenue management market in North America.
The major players of the global revenue management market are Oracle, Huawei, Amdocs, Ericsson, Netcracker, CSG, Optiva, Cerillion, Accenture, SAP, Enghousenetworks, and more. The revenue management market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Revenue Management Market
Component Overview, 2018-2025 (USD Billion)
- Billing & Payment
- Price Management
- Revenue Assurance & Fraud Management
- Channel Management
- Professional Services
- Managed Services
End-User Overview, 2018-2025 (USD Billion)
- IT & Telecom
Regional Overview, 2018-2025 (USD Billion)
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- South America
- Rest of South America