DUBLIN--(BUSINESS WIRE)--The "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" report has been added to ResearchAndMarkets.com's offering.
The 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 market include a rise in the internet penetration, an increase in the generation of transaction data, development of SMEs offering digital solutions for service delivery, rise of subscription-based business models, and adoption of advanced technologies, such as big data, ML, and IoT. The adoption of business assurance solutions and the outbreak of coronavirus at the global level are expected to pose challenges to the growth of the revenue assurance market.
Implementation and customization services segment to grow at a higher CAGR during the forecast period
Based on service type, the Implementation and customization services segment to grow at a higher CAGR during the forecast period. The rise in complexities of services, such as configuration, training, implementation, and demand for business-specific solutions under revenue assurance, lead to a rise in demand for implementation and customization services in the revenue assurance market.
Enterprises segment to grow at a higher CAGR during the forecast period
Organizations other than the telecom sector are considered under the enterprise's segment in the revenue assurance market forecast. Enterprises segment consists of other verticals adopting revenue assurance solutions, namely, utilities, BFSI, hospitality, and others (logistics, aviation, healthcare, eCommerce and retail). With a rise in the internet penetration and development of IoT platforms across all industries, the development of revenue assurance solutions is on the rise. Hence, the section reports the adoption of revenue assurance solutions among various CSPs as compared to businesses in other verticals. The enterprise segment in the revenue assurance market size by end-user is expected to grow at a higher CAGR in the forecasted period.
North America to record the highest market share in the revenue assurance market in 2020
North America consists of developed countries with well-established infrastructures, ISPs, and CSPs that generate a huge demand for revenue assurance solutions in the region. Countries that contribute the most to the market in North America include the US and Canada; the reason for the dominance of these countries is their well-established economies, which enable notable investments in new technologies, such as 5G and virtualization of networks. The rise in subscription-based data, presence of major revenue assurance vendors, and enhanced telecom network infrastructure are other major factors that influence the adoption of the revenue assurance solutions in the region.
- Rise in the Use of Subscription-Based Economy
- Rising Focus of Businesses on Enhancing Customer Experience
- Need for Automation Solutions for Revenue Assurance: Rpa
- Dependency on Human-Led Services for Market Development
- Rising Adoption of Bdt
- Rising Demand for Innovative Payment Services: Telco-Ott Partnerships
- Rising Demand for Business Assurance Solutions
- Economic Slowdown: Outbreak of Coronavirus
- Sagacity Solutions
- Digital Route
- Synthesis Systems
- Adapt It
- Profit Insight
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