The size of the revenue assurance market is expected to rise from $512 million in 2020 to $782 million by 2025, during the forecast period at a Compound Annual Growth Rate (CAGR) of 8.9 percent.
Revenue assurance refers to the collection of operations that enable businesses to correctly collect revenue for all the goods sold or services rendered. Instead of mitigating or correcting funding errors after they have occurred, the concepts or instruments enable businesses to observe and repair existing or possible revenue leakage points through networks and intermediate consumer and customer-facing processes and correct the data until it enters the billing systems of the company.
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Managed services segment to hold the largest market share going forward. Companies that do not have in-house revenue assurance capabilities outsource the role to specialist Managed Service Providers (MSPs). Organizations are projected to raise their demand for revenue assurance managed services as a result of rising costs and resource constraints.
During the forecast period, the cloud segment is expected to expand at a faster CAGR. The growing adoption of revenue assurance solutions by small and mid-sized businesses has resulted in a substantial increase in revenue assurance system deployments in the cloud. Due to a lack of resources and money to invest in physical servers and IT resources to fund locally hosted solutions, these companies prefer cloud-based revenue assurance solutions.
Over the forecast period, Asia Pacific is predicted to have the highest CAGR of 15.1 percent. Increased demand for cloud-based services from small and mid-sized businesses is driving the market in the area. The area is accelerating its digital transformation, which will continue to drive substantial investments in new and advanced technologies. In addition, the region’s booming telecom sector is boosting business growth.
The emergence of both large-scale and medium-scale revenue assurance providers has characterised the industry. In order to maintain their position in an increasingly competitive business setting, these businesses are actively investing in R&D activities to establish creative solutions. In addition, the market exhibits fierce competition among the major players, necessitating constant innovation and production of technologically advanced revenue assurance solutions.
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Digitization is one of the primary reasons responsible for the growth of revenue assurance market the increase in internet penetration, the increase in transaction data generation, the growth of small and medium-sized businesses providing digital service delivery solutions, the increase in subscription business models and the adoption of emerging technologies such as Big Data, ML and IoT.
Over the forecast period, technological advances in revenue assurance are likely to create opportunities for the industry. Cloud, 4G/5G, IoT, and SDN/NFV are among the emerging innovations that are enabling operators to introduce new business models and services, but they are also allowing new instances of fraud to emerge.
• Amdocs (U.S.A)
• Araxxe Inc. (U.S.A)
• Adapt IT (South Africa),
• Cartesian (U.S.A)
• Digital Route (Sweden)
• eClerx (India)
• HPE (U.S.A)
• Itron (U.S.A)
• Nokia (Finland)
• Profit Insight (U.S.A)
• Sagacity Solutions (U.K.)
• Sandvine (Canada)
• Sigos (Germany)
• Subex (India)
• Synthesis Systems (U.S.A)
• TCS (India)
• Teoco (U.S.A)
• Transunion (U.S.A)
• WeDo (Portugal)
• Xintec (Ireland)