Revenue Management System Market Report Covers Detailed Industry Scope, Future Scenario and Outlook to 2028

The "Revenue Management System Market" is projected to grow from US$ 17,717.02 million in 2022 to US$ 37,106.75 million by 2028; it is estimated to grow at a CAGR of 13.1% from 2022 to 2028.

Rising upgrades in existing legacy revenue & channel management systems and growing need for competitive pricing strategies are driving the market growth. A revenue management system helps provide better pricing strategies for long-term decisions based on competitors' data and growing trends. Furthermore, the increasing penetration of mobile devices is boosting subscription-based billing & revenue management platforms, which is a key driving factor for the revenue management system market growth.

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Companies Profiled in this report includes:

• Accelya Solutions India Ltd
• Amdocs Ltd
• Cerillion Plc
• CSG Systems International Inc
• Telefonaktiebolaget LM Ericsson
• Netcracker Technology Corp
• Optiva Inc
• Oracle Corp
• SAP SE
• Sage Group Plc

The IT & telecom industry across the globe has recorded significant growth over the years. The increasing number of revenues generating products and services offered by the industry is catalyzing the demand for revenue management systems in the global IT & telecom industry. The IT industry is constantly involved in the development of various products for enabling businesses to adopt digital solutions for seamless operations. Similarly, telecommunication service providers are experiencing competition in the global revenue management system market, which is creating the need to adopt competitive pricing strategies. This is influencing the demand for price management solutions. Additionally, the telecom industry has also increased its demand for billing and payment solutions to automate the billing cycle of both postpaid and prepaid clients. These factors are contributing to the growth of the revenue management system market growth in the IT & telecom sector.

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Revenue Management System Market Segmentation:

By Component:
• Solution
• Services

By Deployment:
• Cloud Based
• On-Premise

By Vertical:
• IT and Telecom
• Hospitality
• Travel and Tourism
• Retail and Ecommerce
• Banking
• Healthcare
• Insurance
• Media and Entertainment

The travel & tourism industry is being catalyzed by the rising standard of living of the global population. Several travel & tourism companies operating across the globe are increasing the product & services offered to their clients. This is increasing the demand for solutions like price management and revenue assurance solutions. Additionally, customer behavior is constantly analyzed in the industry to offer personalized offers to clients for enhancing customer satisfaction. These factors are further contributing to the rise in demand for revenue management solutions from the global travel & tourism industry. The rise in the adoption of several online platforms for travel bookings is also experiencing the increase in demand for several revenue management systems for offering customers real-time data on availability and prices as per their previous purchase behavior.

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This release was published on openPR.