According to our latest market study on "Revenue Assurance Market Size and Forecast (2023–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis – by Component, Deployment, Organizational Size, and Vertical," the market was valued at US$ 5.3 billion in 2022 and is expected to reach US$ 12.3 billion by 2030; it is estimated to record a CAGR of 11.1% from 2022 to 2030. The report includes growth drivers, along with the revenue assurance market trends and their foreseeable impact during the forecast period.
As internet usage continues to grow, more businesses are conducting their operations online, leading to an increase in the generation of digital transactions and revenue streams. According to World Bank data, globally, the number of individuals using the Internet in 2021 was 63%, an increase from 60% in 2020. With more people accessing the Internet, more digital transactions are taking place. This includes online purchases, digital payments, and other online financial activities. The larger the volume of transactions, the greater the need for effective revenue assurance measures to ensure accurate billing, prevent revenue leakages, and detect fraudulent activities. Moreover, the rise in internet penetration has fueled the growth of the e-commerce industry. Online retail platforms and marketplaces are experiencing increased activity, with more businesses and consumers participating in online buying and selling. Revenue assurance is crucial in ensuring accurate revenue recognition, managing inventory, and preventing revenue leakages in e-commerce. There is a significant increase in the use of mobile internet. As more people access the Internet through their mobile devices, there is a need for revenue assurance solutions that can effectively monitor and manage revenue streams from mobile services, such as mobile data, voice calls, and value-added services. Hence, the rising internet penetration is a significant driver for the revenue assurance market.
Revenue Assurance Market Share – by Geography, 2022 Revenue Assurance Market Size and Forecast (2020 - 2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Component (Solution and Services), Deployment (On-Premise and Cloud-Based), Organization Size (SMEs and Large Enterprises), Vertical (BFSI, Hospitality, Telecom, Utilities, and Others), and Geography
Revenue Assurance Market Size and Share by 2030
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Source: The Insight Partners Analysis
Amdocs Ltd, Nokia Corp, Tata Consultancy Services Ltd, Subex Ltd, LATRO Services Inc, Araxxe SAS, Cartesian Inc, BDO South Africa Inc, Panamax Inc, and Adapt IT Holdings Proprietary Ltd are among the key players profiled in the revenue assurance market report. Several other major companies have been analyzed during this research study to get a holistic view of the ecosystem. The market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases.
The scope of the revenue assurance market report covers North America (the US, Canada, and Mexico), Europe (Germany, the UK, Russia, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East (Saudi Arabia, UAE, Kuwait, Qatar, Oman, Rest of Middle East), Africa (Northern Africa, Western Africa, Southern Africa, Eastern Africa, Central Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In terms of revenue, North America dominated the revenue assurance market share in 2022, followed by Europe and APAC. The market in APAC is expected to register the highest CAGR during the forecast period.
The APAC market is segmented into Australia, Japan, China, South Korea, India, and the Rest of APAC. APAC is experiencing substantial revenue assurance market growth. Rapidly growing economies in the region have surged the demand for telecommunication services and financial products. This complexity necessitates robust revenue assurance solutions to prevent revenue leakage and maintain financial integrity. In addition, to satisfy digital demands and habits, consumers have increased their use of digital services such as eCommerce, digital financial services, and videoconferencing. Businesses are also purchasing ICT solutions such as Big Data, cloud computing, and security to support their remote workers. In the digital age, connectivity is necessary for individuals to stay in touch and for businesses to carry on with their activities.
According to the GSMA's Mobile Economy Asia Pacific 2023 report, telecom operators in APAC are estimated to invest US$ 259 billion on networks between 2023 and 2030, with most of it on 5G deployments. Furthermore, the growing adoption of 5G technology, cloud-based services, digital transactions, and complex financial products increases the need for advanced revenue assurance tools to ensure accurate billing and compliance. Moreover, businesses across industries are increasingly recognizing the value of investing in robust revenue assurance solutions to protect their financial health and ensure accurate billing. Thus, the APAC revenue assurance market is poised for strong growth, fueled by rapid digitalization, stringent regulations, and awareness of revenue leakage risks.
China is experiencing significant growth in the revenue assurance market, driven by the rising internet penetration. In August 2023, the total number of internet users in China reached 1.079 billion, with internet usage increasing to 76%. Also, a total number of 2.937 million 5G base stations have been constructed and are currently operational. In addition, according to the Global Times, China's digital infrastructure, especially generative artificial intelligence (AI), is greatly empowering the country's economic and social development. Thus, the rising internet penetration and growing digital infrastructure are propelling the revenue assurance market growth in China.
The revenue assurance market analysis has been carried out considering the following segments: component, deployment, organization size, and vertical. Based on component, the market is bifurcated into solutions and services. In terms of deployment, the market is segmented into on-premises and cloud-based. Based on organization size, the market is segmented into SMEs and large enterprises. In terms of vertical, the market is segmented into BFSI, hospitality, telecom, utilities, and others.
The telecom segment held the largest revenue assurance market share in 2022, and the BFSI segment is expected to register the highest CAGR during the forecast period. In the highly competitive and ever-evolving telecommunications industry, revenue assurance is critical for telecom operators. With an increasing complexity of services, billing systems, and revenue streams, telecom companies face significant challenges in ensuring accurate revenue collection. Telecom companies operate in a highly competitive market where the slightest revenue leakage can significantly impact profitability. Revenue assurance efforts help identify and rectify revenue leakages caused by billing errors, system glitches, or fraudulent activities. By plugging these leaks, telecom operators can maximize their revenue streams and improve their financial performance.
The telecom sector is particularly vulnerable to revenue fraud due to its complex billing systems and vast customer base. Revenue assurance practices enable identifying and preventing fraudulent activities such as SIM card cloning, subscription fraud, and bypassing billing systems. By implementing robust fraud detection mechanisms, telecom companies can safeguard their revenue and reputation. According to a recent survey by a prominent auditing firm, telecom operators are experiencing revenue leakage ranging from 0.5% to 10%, resulting in significant financial losses.
Greater customer-centricity in financial services means developing novel products and pricing strategies, collecting new revenue streams, and optimizing digital channels—all while proactively managing risk, increasing operational agility, and implementing margin controls. This can be accomplished by implementing a comprehensive revenue management assurance solution. Banks and financial institutions are required to recognize the strategic importance of revenue management assurance in boosting company profitability, encouraging sustainability, and fulfilling the demands of a competitive business environment. Comprehensive and customer-centric revenue management and security equip financial services providers with an end-to-end solution for maximizing possibilities and managing risks. This means optimizing customer-centric tactics in the modern corporate environment through real-time personalized product offerings, real-time client experience management, and real-time analytics-driven decision-making.
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