Rising demand for decreasing subscriber churn and enhancing customer retention drives the demand for subscription & billing management market
With the growth in the deployment of cloud-based services and BYOD, there has been a growth in the automation of billing and subscription processes within the organizations. Hence, large scale businesses within the developed countries such as the U.S., Canada, UK, Germany, etc. are ready to spend more on billing and subscription software and solutions. Hence it is expected that the global subscription & billing management market size is anticipated to reach USD 9 billion by 2025. Moreover, the adoption of mobile devices coupled with the cloud-based solutions across the SMEs have paved a way for the global subscription & billing industry growth in the past few years.
Subscription management includes handling subscribers along with their preferences throughout their lifecycle. The system stores the product catalog, their costs, the subscribers’ data such as their history of transactions, their subscriptions, any add-ons, as well as billing cycles to achieve efficient management of the clientele. On the other hand, the subscription and billing management solutions enable various features that include invoicing, accounting, analytics, pricing models, etc. to businesses that help them to tackle their operational side efficiently.
Based on the application, the market is segmented into BFSI, telecom & IT, healthcare, retail, manufacturing, media & entertainment, and others. The market for telecom & IT is anticipated to possess the largest market share in 2019 since the Tech companies today are predominantly developing to match their user needs. Moreover, the growing regulatory scrutiny coupled with enhanced customer satisfaction, as well as advantages such as risk management, fraud detection, and customized solutions is some of the factors responsible for the subscription & billing management demand.
The report also throws light on various aspects of the global subscription & billing management by assessing the market using value chain analysis. The report covers several qualitative aspects of the subscription & billing 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 subscription & billing 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 subscription & billing management 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 subscription & billing management applications, owing to an outsized presence of 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 subscription & billing management market in North America.
The major players of the global subscription & billing management market are 2Checkout, Apttus, Aria Systems, BillingPlatform, Chargebee, Chargify, cleverbridge, Gotransverse, Recurly, SaaSOptics, Sage Intacct, Salesforce, SAP, Vindicia, and more. The subscription & billing management market is fragmented with the existence of well-known global and domestic players across the globe.
Segment Overview of Global Subscription & Billing Management Market
Component Overview, 2018-2025 (USD Billion)
Organization Size Overview, 2018-2025 (USD Billion)
- Small & Medium
Deployment Overview, 2018-2025 (USD Billion)
Application Overview, 2018-2025 (USD Billion)
- Telecom & IT
- Transport & Logistics
- Media & Entertainment
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