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Global Subscription & Billing Management Market Comprehensive Study: Forecasted Market Size And Growth Rate
Subscription & Billing Management Market
The Business Research Company offers in-depth market insights through Subscription & Billing Management Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The subscription & billing management market size has grown rapidly in recent years. It will grow from $6.4 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to shift to subscription-based models, emergence of saas and cloud services, consumer demand for flexibility, introduction of iot and connected devices, regulatory compliance and security concerns..
The subscription & billing management market size is expected to see rapid growth in the next few years. It will grow to $12.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to continuous innovation and product development, adoption of subscription models in new industries, scalability and flexibility requirements, expansion of partner ecosystems, focus on enhancing customer experience.. Major trends in the forecast period include shift to subscription-based business models, rise in saas and cloud services, demand for personalization and customization, complexity in pricing and packaging, focus on customer experience..
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Market Segmentation:
The subscription & billing management market covered in this report is segmented -
1) By Payment: Fixed, Variable
2) By Component: Software, Services
3) By Deployment Type: Cloud, On-Premises
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry: Aerospace And Defense, Automotive And Transportation, Banking, Financial Services And Insurance, Building, Construction And Real Estate, Consumer Goods And Retail, Education, Energy And Utilities, Government And Public Sector, Healthcare And Life Sciences, Information Technology, Media And Entertainment, Telecommunication, Travel And Hospitality
Major Driver - Rising Electronic Device Penetration Fuels Subscription & Billing Management Growth
The growing penetration of electronic media and devices is expected to drive the growth of the subscription & billing management market. Using electronic media and devices such as mobile devices and laptops by customers provides greater access to the use of products or services over the internet, which requires better management of subscription and billing of customers. Furthermore, Internet traffic has rocketed the numerous digital activities due to lockdowns and restrictions provoked by the COVID-19 pandemic. According to Gartner, a US-based consulting firm, in 2021, 125 million additional laptops and tablets are anticipated to be in use. Therefore, the increasing penetration of electronic media and devices will drive subscription and billing management.
Competitive Landscape:
Major companies operating in the subscription & billing management market report are Zuora Inc., Aria Systems, Gotransverse, BillingPlatform, cleverbridge AG, SAP SE, Apttus Corporation, Oracle Corporation, NetSuite, Inc., LogiSense Corporation, BLUSYNERGY BUSINESS SERVICES LLP, Cerillion Technologies Limited, Recurly Inc., Computer Sciences Corporation, Transverse LLC, Chargebee Inc., Chargify LLC, SaaSOptics LLC, Chargezoom Inc., PaySimple Inc., Zoho Corporation Pvt. Ltd., AppFrontier LLC, Chargefox Pty Ltd, Billsby, ChargeKeep Inc., Rebilly, Vindicia, Spreedly, Cheddar, Paddle, Subscription DNA, PayClix
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Top Trend - Tech Advancements And Cloud Platforms Fuel Growth In Subscription & Billing Management Market
Advanced technologies and cloud platform implementations are a key trend is gaining popularity in the subscription & billing management market. Major companies operating in the subscription and billing management market are focused on providing technologically advanced solutions to strengthen their market position. These companies are implementing next-generation subscription and billing technologies into their software and services, such as computing, big data, and analytics, machine learning, cybersecurity, backup, application development, DevOps, marketing automation, analytics management system, and others to help with hardware optimization, enhanced security while reducing the IT and other on-going expenses for the companies. For instance, in February 2022, TCS and MATRIXX Software partnered up to provide a comprehensive next-generation subscription management platform for CSPs with the cloud-native. This complete solution will assist Communication Service Providers (CSPs) in transforming their prepaid and postpaid businesses, improving customer experience, and driving growth.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Subscription & Billing Management Market Characteristics
3. Subscription & Billing Management Market Trends And Strategies
4. Subscription & Billing Management Market - Macro Economic Scenario
5. Subscription & Billing Management Market Size And Growth
…..
27. Subscription & Billing Management Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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