Revenue Assurance Market Revenue to Attain USD 16.97 Bn by 2033

22 Oct 2024

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Table of Content

1. Revenue Assurance Market Revenue and Trends 2. Market Overview 3. Report Highlights of the Revenue Assurance Market 4. Revenue Assurance Market Trends 5. Regional Outlook 6. Revenue Assurance Market Coverage 7. Market News 

Revenue Assurance Market Revenue and Trends

The global revenue assurance market revenue reached USD 6.37 billion in 2024 and is predicted to attain around USD 16.97 billion by 2033 with a CAGR of 11.51%. The demand for revenue assurance is increasing because of the growing incidence of revenue leakages.

Market Overview

Revenue assurance is the use of workflow enhancement approaches and high-quality data to raise revenue, cash flows, and income. Revenue assurance can also help to prevent revenue leakage by maximizing both cash flow and revenue. A crucial part of revenue assurance strategies involves correcting information just before it enters the billing system and discovering and improving leakage points in the network and all systems.

Report Highlights of the Revenue Assurance Market

• By solution, the software segment led the market in 2023. This is due to the availability of advanced revenue assurance software.
• By solution, the services segment is expected to show the fastest growth over the forecast period. This is because of the increasing adoption of revenue assurance services by end users.
• By deployment, the cloud segment dominated the revenue assurance market in 2023. The dominance of the segment can be driven by rising collaboration between enterprises to improve fraud detection and prevention capabilities.
• By deployment, the on-premise segment is anticipated to experience significant growth during the forecast period. The growth of the segment can be credited to the exceptional security provided by the on-premise segment.
• By end use, in 2023, the telecom segment led the revenue assurance market by holding the largest market share. The dominance of the segment is due to the growing incidence of telecom fraud globally.
• By end use, the BFSI segment is estimated to witness the fastest growth over the studied period. Owning to the implementation of revenue assurance projects in the banking system.

Revenue Assurance Market Trends

Emergence of IoT 

Internet of Things (IoT) technology provides the ability to control devices more efficiently and affordably. After combining analytics, enterprises can get greater insights, enabling them to fuel production performance with enhanced product quality. Furthermore, the integration of various digital technologies in the cloud is substantially becoming normal as it offers plenty of benefits like improving safety, increasing efficiency, and decreasing errors and costs.

Rising demand for cloud-based solutions

The market is growing rapidly because of the rising demand for cloud-based solutions. These solutions are important to businesses of all scales as they are flexible, scalable, and cost-effective. Moreover, cloud-based systems are easily maintained and updated ensuring that organizations have the updated tools and technology for dealing with revenue risks.

Increasing implementation of subscription-based models

Because of their ability to cultivate long-lasting relationships and consumer loyalty, these models are attractive to enterprises searching for constant revenue streams. Additionally, subscription-based models offer more scalability and flexibility across an extensive range of businesses, from entertainment to software, leading to revenue assurance market growth.

• In June 2023, the service assurance division of TEOCO was acquired by Amdocs. Amdocs is set to offer service providers a unique end-to-end service orchestration solution that confirms service quality and enables the monetization of next-generation dynamic consumer experiences with this purchase.

Regional Outlook

North America dominated the market in 2023. The dominance of the segment can be attributed to the rising number of new incidents of revenue leakages along with the increasing need for real-time revenue monitoring in the telecommunications sector. Furthermore, a strong consumer base, which also impels innovative projects coupled with the surge in technology investments, can contribute to the market expansion soon.

Asia Pacific's revenue assurance market is expected to grow at the fastest growth over the projected period. The growth of the region can be linked to rising government expenditure in advanced technologies such as virtualization of networks and 5G technology. Moreover, nations like Japan, India, and China also contribute to a significant share of the region's economy during the forecast period.

Revenue Assurance Market Coverage

Market News 

• In August 2024, Grameenphone, one of the leading telecommunication service providers specific to a large number of subscribers, partnered with Mobileum, a leading market participant in the analytics solutions industry.
• In July 2023, Cerillion, a well-known BSS/OSS-as-a-Service solution provider, recently launched the latest version of their pre-integrated BSS/OSS suite, Cerillion 23.2.

Market Segmentation

By Solution

• Software
• Services

By Deployment

• On-premise
• Cloud

By End-use

• BFSI
• Telecom
• Healthcare
• Retail
• Energy and Utilities

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