Revenue Assurance Market to Expand at CAGR of 10.03% During 2022-2030 | Increasing Number of Online & Mobile Banking Network Services Will Offer Potential Opportunities for The Market Growth, Says The Brainy Insights

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Brainy Insights Pvt. Ltd.

The rise in the favourable business environment & strong customer support continues to buoy up creative projects, and technology spending in emerging region assist to drive the revenue assurance market growth.

Newark, May 16, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global revenue assurance market is expected to grow from USD 4.60 Billion in 2020 to USD 12.26 Billion by 2030, at a CAGR of 10.03% during the forecast period 2021-2030.

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Revenue assurance leads to the set of principles or activities that allow institutions to accurately grab remuneration for all the products sold or services supplied. A revenue assurance service utilizes process advancement methods that enhance profits, revenues, and cash flows without affecting the demand & supply. Revenue Assurance in a telco environment protects many business & technical aspects. A telecom institution's revenue chain is usually a complex set of inter-related technologies & methods delivering seamless services to the end customer. Case management ability in revenue assurance should provide a 360-degree viewpoint of a given case.
The increasing incidence of revenue assurance is anticipated to expand demand for the revenue assurance market during the projection period. The factors such as increasing penetration of complicated business models in emerging economies, increasing complex business environment & practices, growing adoption of digital solutions by SMEs, enhancing transaction data, increase in the internet penetration, rising revenue loss due to multiple fakes, adoption of advanced technologies like big data, ML, & IoT, and grow in subscription-based business models are propelling the market growth. This outbreak of COVID has positively influenced the revenue assurance industry and is anticipated to experience significant growth during the projection timeframe. During this epidemic period, most staffers began to choose the WFH option due to the availability of stable connectivity networks. Many businesses focus on generating an enterprise model, including recurring billing on detecting revenue losses due to fake trades.

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Key players operating in the global revenue assurance market are Araxxe, Accenture plc, Amdocs, Subex Limited, Hewlett Packard Enterprise Development LP, Tech Mahindra Limited, TEOCO, Telefonaktiebolaget LM Ericsson, International Business Machines Corporation, Tata Consultancy Services Limited, WeDo Technologies, and among others. To enhance their market position in the global revenue assurance market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.

● For instance, in May 2018, Amdocs supported Safaricom’s launch of new digital services with end-to-end revenue assurance abilities to enhance the consumer experience. Safaricom proactively covers against revenue leakage & optimizes revenue while maintaining operational expenses at a minimum.

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By 2030, the cloud segment is likely to dominate the market.

The deployment model segment is divided into cloud and on-premise. By 2030, the cloud segment is likely to dominate the market. Revenue assurance industry share will be bolstered by rising demand for cloud-based revenue assurance solutions, cost-effectiveness, and easy operation across different enterprises. Also, this segment is anticipated to dominate market growth because the cloud allows operators to have high agility, speed, and effective management of revenue and fraud.

By 2030, the services segment is likely to dominate the market.

The component segment is divided into services and software. By 2030, the services segment is likely to dominate the market. Moreover, the rapidly growing number of institutions consulting for managed services is one of the propelling factors of this segment. Further, with the rising demand for revenue assurance solutions, the services portfolio is predicted to rise due to the industry's dependency on human interaction for growth & development.

The telecom vertical led the market with a market share of 26.36% and a market value of around 1.21 billion in 2020.

The vertical segment is divided into retail, telecom, BFSI, healthcare, energy & utilities, and others. The telecom vertical led the market with a market share of 26.36% and a market value of around 1.21 billion in 2020. The rising incidence of telecom fraud is the propelling factor of the market segment growth. Further, the telecom demon has long been hassled amidst revenue leakages. Additionally, with the increasing competition from incorporating media such as the internet, telecom products must include faster & better technology to match the required standards set through the regulatory bodies.

Regional Segment Analysis of the Revenue Assurance Market:

● North America (U.S. Canada, Mexico)
● Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
● Asia-Pacific (China, Japan India, Rest of APAC)
● South America (Brazil and Rest of South America)
● Middle East and Africa (UAE, South Africa, Rest of MEA)

North America region occurred as the largest market for the global revenue assurance market with a market share of 37.9% and a market value of around 885.36 in 2020. North America currently dominates the revenue assurance market due to the increasing awareness about the severe effects of revenue leakages on an institution’s overall profitability. Furthermore, the Asia Pacific region is anticipated to show the fastest CAGR of 13.6% over the projection period. This is due to the booming telecom sector in the region. In addition to this, the rapid growth in the telecommunication webs like 4G, especially in the developing economies like Australia, India, and China, is predicted to fuel the market size in Asia-Pacific.

About the report:

The global revenue assurance market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

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About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.

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