The major factors driving the growth of the revenue assurance market is the rise in the internet penetration, an increase in the generation of transaction data, development of SMEs offering digital solutions for service delivery, increase in subscription-based business models, and adoption of advanced technologies, such as big data, ML, and IoT.
Northbrook, IL, April 04, 2022 (GLOBE NEWSWIRE) — According to a new market research report “Revenue Assurance Market by Component (Software and Services), End-User (TSPs, and Enterprises), Deployment Mode (Cloud and On-premises), Vertical (Telecom, Utilities, BFSI, Hospitality, and Others), and Region – Global Forecast to 2025″ published by MarketsandMarkets™, the global revenue assurance market size is projected to grow from USD 512 million in 2020 to USD 782 million by 2025, at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period. The major factors driving the growth of the revenue assurance market include the rise of the subscription economy, rising number of mobile and internet users, adoption of advanced technologies such as RPA, Big Data, AI, and IoT.
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The services segment to record a larger market size during the forecast period
Revenue Assurance services are estimated to hold a larger market share during the forecast period in the revenue assurance market. Services portfolio includes planning and consulting, implementation and customization, support and maintenance, and managed services. These services enhance the revenue assurance portfolio of the services providers by offering customers with value creation, operational flexibility, and competitive advantage. Companies that lack in-house capabilities for revenue assurance of an organization outsource the functionality from expert Managed Service Providers (MSPs). With the growing demand for revenue assurance solutions, the services portfolio is expected to increase due to the market’s dependency on human-interaction for development and growth.
By deployment model, the on-premises segment to record the larger market share during the forecast period
There is a large-scale adoption of revenue assurance solutions among large scale telecom service providers that have significant CAPEX and IT infrastructure investment capabilities. Therefore, the market share of on-premises deployment mode is higher as compared to cloud deployment mode, since the on-premises model gives various benefits such as data security, and lower-latency issues.
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APAC to record the highest growth during the forecast period
APAC to record the highest growth during the forecast period due to the presence of growing network technologies, digital infrastructure, and smartphone and internet penetration. Countries, such as India, China, Australia, and Japan also contribute a major share to the APAC economy. These countries are experiencing major growth in data generation due to rapid digitalization and threat from hacker groups or terror networks with the increasing penetration of digital infrastructure and heavy investments on network technologies by key industry telecom players in the region.
Major vendors of revenue assurance include Amdocs (US), Araxxe Inc. (US), Adapt IT (South Africa), Cartesian (US), Digital Route (Sweden), eClerx (India), HPE (US) Itron (US), Nokia (Finland), Profit Insight (US), Sagacity Solutions (UK), Sandvine (Canada), Sigos (Germany), Subex (India), Synthesis Systems (US), TCS (India), Teoco (US), Transunion, (US), and WeDo (Portugal), and Xintec (Ireland).
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