Revenue Assurance Market - Growth, Trends, Forecasts (2020 - 2025)

The revenue assurance market (henceforth, referred to as the market studied) is expected to register a CAGR of 10% over the forecast period. The major factors driving the growth of the revenue assurance market include the rise of the subscription economy, rising number of mobile and internet users, adoption of advanced technologies, such as RPA, Big Data, AI, and IoT. Also, the rising awareness about the severe consequences of revenue leakages on an organization’s overall profitability is driving the revenue assurance market, globally.

• As large scale telecom service providers have significant CAPEX and IT infrastructure investment capabilities, there is an extensive adoption of revenue assurance solutions. These solutions are expected to increase the market share for the on-premises deployment mode of the revenue assurance market.
• With the growing demand for revenue assurance solutions like planning and consulting, implementation and customization, support and maintenance, and managed services to enhance the revenue assurance portfolio of the services providers by offering customers with value creation, operational flexibility, and competitive advantage is driving the growth of the market. As a result, the services portfolio is expected to grow due to the market’s dependency on human-interaction for development and growth.
• The market competition is intense, as there are several vendors present. Companies in this intensely competitive environment require innovations and technological developments at a steady pace to gain a competitive edge in the market and to further expand the consumer base in saturated markets to manage the rapidly rising consumer base in developing markets. These scenarios tend to boost the growth of this market as companies become more vulnerable to revenue leakage.
• The ongoing COVID-19 pandemic and the worldwide reaction to it have compelled companies to rethink their strategies and the way they operate radically. The restructuring of companies is setting up great opportunities for the revenue assurance market to grow globally.

Key Market Trends

Cloud Deployment is Expected to Drive the Market Growth

The cloud-based segment is forecast to register significant growth during the forecast period due to the flexibility and scalability offered by these solutions. The cloud-based delivery model makes the software extremely flexible regarding scalability (pay-as-you-go storage utilization).

• The demand for simplified and consolidated storage resources to reduce cost and enhance workflow by eliminating departmental silos of clinical information is causing the rise in the cloud deployment. Moreover, the storage and server power for the organization is hosted off-premise. The cloud vendor provides all the off-premise system support resources which serve as a driver for cloud deployment.
• On-premise revenue assurance solutions are extensively used. However, cloud-based software adoption is expected to have a higher growth rate due to its cost-effectiveness, low software maintenance, accessibility, less spending on infrastructure, and a wide range of applications.

Asia-Pacific to Register Highest Market Growth

The Asia-Pacific market is expected to witness growth at the fastest pace as the region is driven by the increased demand for cloud-based services from small and mid-sized companies in the region. Additionally, the flourishing telecom sector in Asia-Pacific would also boost the revenue assurance market in the region over the report’s forecast period.

• The notable growing investments in new technologies, such as 5G and virtualization of networks, in the region, are fuelling the growth of the market.
• The rise in subscription-based data, presence of significant revenue assurance vendors, and enhanced telecom network infrastructure are other major factors that influence the adoption of the revenue assurance solutions in the region. Moreover, the increasing number of telecom subscribers and smart devices are adding to the growth of the market in the region.

Competitive Landscape

The revenue assurance market appears to be quite fragmented due to the presence of some major regional and international companies. The market players are mainly aiming at finding new avenues to reduce fraud and revenue leakages, to serve the market in a better. The players are increasingly focusing on differentiating their product offerings to sustain the competitive market environment. Some of the key developments in the area are:

May 2018 - Amdocs supported Safaricom’s launch of new digital services with end-to-end revenue assurance capabilities to improve customer experience. Safaricom proactively protects against revenue leakage and optimizes revenue while keeping operational costs at a minimum.

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