Press release
Global Revenue Assurance Market: Why Top 10 Giants Spending is on Rise
Revenue Assurance Market
The global market segmented into type, deployment model, industry vertical and region. This study provides comprehensive information about drivers, opportunities, restraints, segmentation and prominent players in the overall market.
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Factors affecting the market growth
As per our analysts, increasing revenue loss due to numerous frauds and growing focus on business to enhance customer experience are the major drivers for the growth of the market. However, dearth of skilled persons and high cost of solution are major restraints for the growth of the revenue assurance market.
Managed services type held the major revenue share in 2018
The market for managed services type dominated the global market in the previous years by generating highest revenue share, which was about 33.0% and is estimated to continue its healthy growth throughout the projected time. Rapidly increasing the number of organizations consulting for managed services for revenue assurance because they don’t have in house facilities is for revenue assurance, this approach is projected to enhance the market growth. Planning & consulting type will witness to grow at a healthy rate of 11.0% CAGR and is expected to account for $239.9 million till 2026. Growing utilization of revenue assurance for planning & consulting services is estimated to accelerate the growth of the market.
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On-premises segment accounted for significant market size in the previous years
On-premises deployment model generated for highest revenue assurance market size in 2018, it was valued at $223.9 million and is projected to experience a moderate growth in the forecast timeframe. Critical data is stored in on-premises model with higher safety and no third party access is projected to impel the growth of the market. However, due to internet penetrate across the globe, there is a remarkable growth in the cloud based plat forms, is estimated to limit the on-premises market. Also, cloud deployment model is becoming more popular and that permits complete accessibility & customization to end use industries. Due to its complete accessibility, the market for cloud deployment model will witness to grow at a rapid pace in the end of forecast time.
BFSI segment accounted for largest market share in 2018
BFSI industry vertical held the significant market share in the year 2018, it accounting for $105.6 million and is projected to generate a revenue of $227.6 million by 2026. BFSI sector contains various sensitive data including insurance, loan details, mutual funds along with personal account details such as credit & debit card information, pin & log in details. Thereby, extensive adoption of revenue assurance systems by BFSI industry to identify fake transactions & payments and maintain privacy of customer data, this aspect is expected to propel the growth of the market. Telecommunication industry vertical will witness to rise at a faster CAGR of 11.5% and is projected to reach up to $217.2 million till end of 2026. Increasing use of revenue assurance services in telecommunication sector for identification of revenue leakages and finding reasons for losses and suggesting corrective actions. This factor will drive the market growth in the projected time.
Revenue assurance market, regional analysis
Asia-pacific will experience a remarkable growth in the global market and is projected to create ample growth prospects in the estimated period. Rapid growth in the telecommunication networks such as 4G especially in the developing economies such as India, China and Australia is expected to fuel the market size in Asia-Pacific. North America held the highest global revenue market share in the previous years, which was about 32.0% and is anticipated to account for $289.2 million in 2026. Presence of well-developed infrastructures in the North America is expected to produce huge demand for the revenue assurance systems, which will drive the market growth.
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Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.
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