June 02, 2020
According to the research report titled ‘Global Revenue Assurance Market Size study, by Type (Planning and Consulting, Operation and Maintenance, System Integration, Managed Services), End-User (SMBs, Large Enterprises) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global revenue assurance market was worth USD 974.6 million in the year 2019 and is expected to grow with a CAGR of 9.20% between 2020 and 2026.
Notably, the revenue assurance allows organizations to accurately and conveniently acquire revenue of all the sold products as well as services to retailers and distributors. These tools help small & medium and large organizations to accurately analyze and fix the potential or present revenue leakage point in several networks, intermediate clients, and consumer facing systems.
Rising adoption of subscription-based solutions coupled with shifting focus towards improving customer experience are major factors driving the revenue assurance market growth, cites the report. Increasing utilization of BDT and rising initiatives by private entities are also fueling the market expansion. For instance, Subex entered a joint venture agreement with a Palestine based mobile network operator (MNO), Jawwal, in order to offer ROC RA (revenue assurance) in 2020. Similarly, in 2018, Amdocs teamed up with Safaricom, a Kenya-based MNO to focus on improving customer networks as well as to launch innovative services. However, high dependency on human-based services may hinder the growth of revenue assurance market over the analysis timeframe.
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As per type, the market is split into management services, system integration, operation & maintenance and planning & consulting segments. Citing the end-use landscape, the industry is divided into large enterprises and SMBs.
From the regional point of view, the revenue assurance market in North America is set to acquire appreciable returns in the forthcoming years, primarily due to growing inclination towards subscription-based solutions and rising importance of improving consumer experience. Meanwhile, the Asia-Pacific revenue assurance industry is presumed to expand considerably during the study period. Growing demand for novel payment services and solutions and increasing utilization of BDT are swaying the business dynamics in APAC.
CAMPANA Systems Inc., Comware Inc., Socure, Connectiva Systems Inc., Equinox Information Systems Inc., Hewlett-Packard Co., Advanced Technologies Inc., Cartesian Ltd. and Subex Ltd. are the major companies that formulate the competitive hierarchy of global revenue assurance industry.