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Subscription/Recurring Billing Management Market worth $22.76 billion by 2030, growing at a CAGR of 16.11% - Exclusive Report by 360iResearch
Subscription/Recurring Billing Management Market | 360iResearch
The Global Subscription/Recurring Billing Management Market to grow from USD 7.99 billion in 2023 to USD 22.76 billion by 2030, at a CAGR of 16.11%.
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Subscription/recurring billing management encompasses the processes, tools, and technologies used by businesses to oversee and streamline the billing cycle for subscription-based or recurring revenue models. This management system automates and manages the billing process, from subscription setup, invoicing, and payments to subscription changes and cancellations. It ensures a seamless, consistent billing experience for both the business and its customers. The subscription/recurring billing management market is primarily driven by the increasing adoption of the subscription-based business model across various industries, including software, media, entertainment, and e-commerce. This trend is further propelled by consumer preferences for flexibility, personalized experiences, and the convenience of automatic renewals. Additionally, the need for efficient, scalable billing solutions to handle large volumes of transactions and the desire to minimize billing errors and enhance customer satisfaction has a crucial role in market growth. Despite its growth, the market faces challenges such as compliance with diverse payment regulations across regions, managing customer churn, and ensuring the security of payment data. However, innovations in payment technologies and the integration of Artificial Intelligence (AI) and Machine Learning (ML) for predictive analytics and automated decision-making can further enhance efficiency and customer experience and open up new avenues for market growth.
In the Americas, the subscription/recurring billing management market is witnessing robust growth, driven primarily by the rapid adoption of subscription-based business models across various industries, including technology, media, and telecommunications. The United States stands out as the major contributor to the regional market, owing to advanced technological infrastructure and a strong presence of major market players. Additionally, regulatory advancements in payment systems and the emergence of flexible payment solutions are facilitating the expansion of the subscription economy, thereby fueling the demand for effective billing management solutions. In the EMEA, Europe shows a higher demand for subscription/recurring billing management, primarily owing to stringent regulatory requirements around data privacy and consumer rights that compel businesses to deploy efficient subscription management systems. In the Middle East and Africa, although the market is in its nascent stages, it is gradually showing growth, attributed to digital transformation efforts, increasing internet penetration, and a growing startup ecosystem focusing on SaaS products. The rise in consumer demand for OTT platforms, digital news, and fitness subscriptions in these regions is also contributing to market growth. Asia-Pacific is exhibiting rapid growth in the subscription/recurring billing management market, attributed to the vast consumer base, rising disposable incomes, and increasing adoption of digital services. Countries including China, India, and Japan are showcasing robust adoption, buoyed by the expanding e-commerce sector, a growing number of SMEs, and a shift towards subscription models in the aftermath of the COVID-19 pandemic.
Market Segmentation & Coverage:
This research report categorizes the Subscription/Recurring Billing Management Market in order to forecast the revenues and analyze trends in each of following sub-markets:
Based on Product, market is studied across Service and Solution. The Service is further studied across Managed Services and Professional Services. The Solution is further studied across Billing Mediation, Financial Customer Care & Dispute Management, Pricing & Quote Management, and Subscription Order Management. The Solution is projected to witness significant market share during forecast period.
Based on Payment Mode, market is studied across Fixed Payments and Variable Payments. The Variable Payments is projected to witness significant market share during forecast period.
Based on Industry, market is studied across Aerospace & Defense, Automotive & Transportation, Banking, Financial Services & Insurance, Building, Construction & Real Estate, Consumer Goods & Retail, Education, Energy & Utilities, Government & Public Sector, Healthcare & Life Sciences, Information Technology, Manufacturing, Media & Entertainment, Telecommunication, and Travel & Hospitality. The Media & Entertainment is projected to witness significant market share during forecast period.
Based on Deployment, market is studied across On-Cloud and On-Premises. The On-Premises is projected to witness significant market share during forecast period.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom. The Americas commanded largest market share of 34.53% in 2023, followed by Europe, Middle East & Africa.
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FPNV Positioning Matrix:
The FPNV Positioning Matrix is essential for assessing the Subscription/Recurring Billing Management Market. It provides a comprehensive evaluation of vendors by examining key metrics within Business Strategy and Product Satisfaction, allowing users to make informed decisions based on their specific needs. This advanced analysis then organizes these vendors into four distinct quadrants, which represent varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital(V).
Market Share Analysis:
The Market Share Analysis offers an insightful look at the current state of vendors in the Subscription/Recurring Billing Management Market. By comparing vendor contributions to overall revenue, customer base, and other key metrics, we can give companies a greater understanding of their performance and what they are up against when competing for market share. The analysis also sheds light on just how competitive any given sector is about accumulation, fragmentation dominance, and amalgamation traits over the base year period studied.
Key Company Profiles:
The report delves into recent significant developments in the Subscription/Recurring Billing Management Market, highlighting leading vendors and their innovative profiles. These include 2Checkout.com, Inc. by VeriFone Holdings, Inc., ActivePlatform, Amazon.com, Inc., Aria Systems, Inc., Billwerk+ Germany GmbH, BluSynergy, Braintree by PayPal Holdings, Inc., Cerillion PLC, ChargeBee, Inc., Cleverbridge AG, Conga, DXC Technology Company, FastSpring, FreshBooks, Gotransverse LLC, LogiSense Corporation, MoonClerk LLC, Oracle Corporation, Recurly, Inc., Salesforce.com, Inc., SAP SE, SOFTRAX by TELUS Agriculture Solutions Inc., Stripe, Zoho Corporation Pvt. Ltd., and Zuora, Inc..
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
6. Subscription/Recurring Billing Management Market, by Product
7. Subscription/Recurring Billing Management Market, by Payment Mode
8. Subscription/Recurring Billing Management Market, by Industry
9. Subscription/Recurring Billing Management Market, by Deployment
10. Americas Subscription/Recurring Billing Management Market
11. Asia-Pacific Subscription/Recurring Billing Management Market
12. Europe, Middle East & Africa Subscription/Recurring Billing Management Market
13. Competitive Landscape
14. Competitive Portfolio
The report provides insights on the following pointers:
1. Market Penetration: Provides comprehensive information on the market offered by the key players
2. Market Development: Provides in-depth information about lucrative emerging markets and analyzes penetration across mature segments of the markets
3. Market Diversification: Provides detailed information about new product launches, untapped geographies, recent developments, and investments
4. Competitive Assessment & Intelligence: Provides an exhaustive assessment of market shares, strategies, products, certification, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players
5. Product Development & Innovation: Provides intelligent insights on future technologies, R&D activities, and breakthrough product developments
The report answers questions such as:
1. What is the market size and forecast of the Subscription/Recurring Billing Management Market?
2. Which are the products/segments/applications/areas to invest in over the forecast period in the Subscription/Recurring Billing Management Market?
3. What is the competitive strategic window for opportunities in the Subscription/Recurring Billing Management Market?
4. What are the technology trends and regulatory frameworks in the Subscription/Recurring Billing Management Market?
5. What is the market share of the leading vendors in the Subscription/Recurring Billing Management Market?
6. What modes and strategic moves are considered suitable for entering the Subscription/Recurring Billing Management Market?
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