Revenue Assurance Market Size, Share and Trends 2024 to 2034

Revenue Assurance Market Size and Forecast 2024 to 2034

The global revenue assurance market size is worth around USD 6.37 billion in 2024 and is predicted to reach around USD 18.93 billion by 2034, growing at a CAGR of 11.51% from 2024 to 2034. The rising incidence of revenue leakages is the key factor driving the growth of the market. Also, increasing consumer awareness regarding revenue leaks, along with technological advancement, can fuel market growth shortly.

Revenue Assurance Market Key Takeaways

• North America dominated the revenue assurance market and generated then 34% of market share in 2023.
• Asia Pacific is anticipated to grow at the fastest CAGR of 15.22% over the projected period.
• By solution, the software segment accounted for the biggest market share of 63% in 2023.
• By solution, the services segment is expected to show fastest growth over the forecast period.
• By deployment, the cloud segment dominated the revenue assurance market in 2023.
• By deployment, the on-premises segment is anticipated to experience significant growth during the forecast period.
• By end use, in 2023, the telecom segment led the market by holding the largest market share.
• By end use, the BFSI sector is estimated to witness the fastest growth over the studied period.

U.S. Revenue Assurance Market Size and Growth 2024 to 2034

The U.S. revenue assurance market size is evaluated at USD 1.52 billion in 2024 and is projected to be worth around USD 4.60 billion by 2034, growing at a CAGR of 11.71% from 2024 to 2034.

North America dominated the revenue assurance market in 2023 by holding the largest market share. The dominance of the segment can be attributed to the increasing number of new incidents of revenue leakages coupled with the strong consumer base, which stimulates innovative projects and a surge in technology investments. Furthermore, the growing need for real-time revenue monitoring in the telecommunications industry is propelled by the rising number of advanced technologies and services.

• In March 2024, Deloitte unveiled the biggest overhaul of its global operations. The Big Four firm seeks to cut costs and decrease the organization's complexity in the face of a probable market slowdown. Deloittes' main business units will be cut into four parts: audit and assurance, risk, strategy, and transactions, as well as technology and transformation.

Asia Pacific's revenue assurance market is anticipated to grow at the fastest growth over the projected period. The growth of the region can be driven by a raised demand for cloud-based services from mid and small-sized companies. Moreover, nations like Japan, India, and China also contribute a substantial share to the region's economy. There is a significant increase in expenditure on advanced technologies, such as the virtualization of networks and 5G technology in the region.

Market Overview

Revenue assurance is the utilization of workflow improvement attributes and high-quality data to increase revenue, cash flows, and income. A substantial part of revenue assurance strategies includes correcting information just before it enters the billing system and searching and improving leakage points in the network and overall system. Revenue assurance can also help to safeguard revenue leakage by maximizing both revenue and cash flow.

Revenue Assurance Market Growth Factors

• An increase in the use of a subscription-based economy is expected to boost market growth soon.
• An increase in the focus of businesses on improving customer experience can propel market growth further.
• The surge in the adoption of BDT and the rise in the demand for innovative payment services will likely help in the market expansion over the forecast period.

Role of Artificial Intelligence in the Revenue Assurance Market

Artificial Intelligence (AI) is transforming revenue assurance by analyzing high sets of data into actionable insights. Processing complex patterns and faults within contracts, billing systems, and customer usage data enables businesses to prevent and identify revenue leakage with more precision and accuracy. Furthermore, artificial intelligence and machine learning algorithms can detect fraudulent activities like unauthorized access, fake accounts, and billing discrepancies by searching patterns that differ from normal behavior.

• In August 2024, -Mobileum Inc., a global provider of analytics and network solutions, announced the partnership with Bangladesh's biggest telecommunications service provider, Mobileum, A next-generation revenue assurance and fraud management (RAFM) solution built on its flagship Active Intelligence Platform (AIP), to conduct its AI-driven risk management transformation.

Market Scope

Market Dynamics

Driver

Rising demand for revenue assurance solutions in the telecommunications industry

The telecom industry has been facing hardships due to numerous developments that have a direct impact on income streams. The launch of connected devices is smoothly manipulating the landscape of technology in the telecommunications sector. Hence revenue assurance becomes more crucial in this industry. Additionally, Consumer behavior is being impacted by advances and innovative technology, which will boost the demand for new services. There are various technologies, items, systems, and procedures in the telecom revenue chain.

• In May 2023, Beyond Now, a fast-growing digital platform provider, and Adamo, a Spanish fiber optic service provider, announced that the telco has raised its subscriber base by 237%, adding 297,500 new customer services in a highly competitive market for telecoms services.

Restraint

Lack of organizational growth

End-use companies cannot often grow their resources to invest in revenue leakage solutions and services. Moreover, the shortage of focus on modification can lead to adverse instances that have financial impacts, like unpredicted revenue leakages that influence billing because of alterations in the web, especially if risk management activity is not that strong.

Opportunity

Growth of the subscription economy

The growth of the subscription economy is fuelling the revenue assurance market growth. The need for revenue assurance solutions rises as the number of users making real-time transactions increases. Furthermore, the revenue assurance solutions are meant to enhance organizational competence while managing revenue capacity. The increasing number of mobile banking network services & online services will drive the growth of the revenue assurance market during the projected period.

• In June 2023, Trustly unveiled a new AI-powered recurring payment service to expand Europe's subscription economy. The company intends to improve how merchants manage repeat transactions via a single integration. The newly introduced technology is set to allow businesses to accept recurring transactions directly from customer's bank accounts, thus cutting the limitations created by traditional payment methods.
• In April 2024, the visa introduced Subscription Manager to the booming subscription economy. A new, all-in-one service for financial institutions to offer Visa cardholders a simple, convenient way to track their subscriptions, all from the palm of their hands. 

Solution Insights

The software segment led the revenue assurance market in 2023. The dominance of the segment can be attributed to the availability of innovative and highly flexible software. The unique methodology of this software improves service providers' business and financial health by identifying revenue leakages in the network. Additionally, it allows traffic to be controlled and monitored, underscoring all irregularities that can cause inappropriate utilization of services by delivering efficient and easy-to-use environmental events.

The services segment is expected to show the fastest growth in the revenue assurance market over the forecast period. The growth of the segment can be linked to the rising requirement for an organization to analyze the future impact of revenue leakage in the market. Furthermore, the services enhance the revenue assurance portfolio by providing customers with operational flexibility, competitive advantage, and value creation. The planning and consulting services also help service providers to identify affected fields more precisely.

• In February 2024, Ericsson launched new service orchestration and assurance products, solutions, and services. Designed to enable communication service providers (CSP) across the globe to capitalize at scale on the increasing variety and volume of high-impact use case opportunities made possible by 5G and 5G Standalone.

Deployment Insights

The cloud segment dominated the revenue assurance market in 2023. The dominance of the segment can be driven by opportunities provided by the paradigm shift from on-premise to cloud. Cloud enables users to access agility, high speed, and effective management of fraud and revenue. Also, various cloud service platforms offer improved fraud detection and prevention abilities by using Google Cloud's scalability to control rising volumes of transactions and data.

• In October 2024, the global leader of the Ecosystem Integration software category and provider of the Cleo Integration Cloud (CIC) platform, released Cleo Retailer Relationship Manager, a powerful solution created to strengthen supplier-retailer relationships by offering proactive real-time intelligence that enables dynamic course correction, enhances relationships with key customers and ensures higher order capture rate.

The on-premise segment is anticipated to experience significant growth in the revenue assurance market during the forecast period. This is due to increasing demand for on-premises software as many enterprises are transferring from manual to automated systems to perform various tasks. Many organizations are preferring on-premises deployment due to enhanced security features. Moreover, confidential data can be saved in an on-premise software with no third-party access.

End-use Insights

In 2023, the telecom segment led the revenue assurance market by holding the largest market share. This is because of the increasing prevalence of telecom fraud. The main motive of revenue assurance is to cover the telecom revenue by seeking income losses and searching for the prime reasons for those losses. Furthermore, Telecom giants have faced a large number of incidents connected to revenue leakages. Which, in turn, drives the demand for revenue assurance in the telecom market.

• In June 2023, inwi selected Subex, a top telecom analytics solutions provider, for a five-year contract to update its current Revenue Assurance and Fraud Management (RAFM) system to the advanced HyperSense Business Assurance and Fraud Management platform. 

The BFSI segment is estimated to witness the fastest growth over the studied period. The growth of the segment can be credited to the increasing revenue leakages in almost all bank departments. Both retail and commercial customers can contribute to the reduction in income. The deployment of revenue assurance projects is accomplishing good results in the banking sector by offering numerous growth opportunities in the revenue assurance market.

• In July 2024, RAKBANK, a prominent financial organization in the United Arab Emirates, announced that it has partnered with Wipro Limited, a leading technology services and consulting company, to establish a Testing Center of Excellence (TCoE) created to accelerate innovation and improve the quality and efficiency of the bank's digital services.

Recent Developments

• In April 2024, SUBEX announced a deal with Asia's prominent telecommunication service providers for AI-driven business assurance. Subex Pte Ltd, a subsidiary of SUBEX, signed the agreement, utilizing the company's innovative business assurance solution on HyperSense. 
• In September 2022, VMware launched a new product innovation and partnership that will enable communications service providers to modernize their networks in a cost and energy-efficient manner and boost 5G core, RAN, and edge deployments and lifecycle management.

Revenue Assurance Market Companies

• Accenture
• Amdocs
• Araxxe
• Hewlett Packard Enterprise Development LP
• IBM
• SUBEX
• TATA Consultancy Services Limited
• Tech Mahindra Limited
• Telefonaktiebolaget LM Ericsson
• TEOCO
• Mobileum

Segments Covered in the Report

By Solution  

• Software
• Services

By Deployment

• On-premise
• Cloud

By End-use  

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

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa