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Revenue Assurance Market Report 2024: Size, Share, Growth, Trends, Forecast 2033
Revenue Assurance Market
As per the report, the revenue assurance market size has grown rapidly in recent years. It will grow from $4.40 billion in 2023 to $4.90 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The revenue assurance market size is expected to see rapid growth in the next few years. It will grow to $7.54 billion in 2028 at a compound annual growth rate (CAGR) of 11.4%.
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The Rise Of Cloud Computing Fuels Revenue Assurance Market Growth
The increasing adoption of cloud computing is expected to propel the growth of the revenue assurance market. Cloud computing refers to the delivery of computing services over the Internet, including storage, processing, and software, on a pay-as-you-go basis. The increasing adoption of cloud computing is driven by its scalability, cost efficiency, flexibility, and enhanced collaboration capabilities. Cloud computing enhances revenue assurance by providing scalable, cost-effective infrastructure for real-time data processing and analytics, facilitating efficient revenue monitoring and fraud detection. For instance, in December 2023, according to Eurostat, a Luxembourg-based intergovernmental organization, 45.2% of enterprises within the European Union procured cloud computing services, primarily for hosting email systems, storing electronic files, and performing various tasks. Compared to 2021, purchases of cloud computing services among EU enterprises rose by 4% in 2023. Therefore, the increasing adoption of cloud computing is driving the growth of the revenue assurance market.
Strategic Partnerships Driving Technological Advancements
Major companies operating in the revenue assurance market are adopting a strategic partnerships approach to enhance their technological capabilities, expand their market reach, and offer comprehensive solutions to address evolving customer needs. Strategic partnerships refer to a process in which companies leverage each other's strengths and resources to achieve mutual benefits and success. For instance, in August 2021, Subex Ltd., an India-based enterprise software company, partnered with Robi Axiata Limited, a Bangladesh-based mobile network company. This partnership enables Robi to utilize Subex's revenue assurance and fraud management solutions' artificial intelligence and machine learning capabilities to address modern telecom threats in the region and enhance customer experience while offering 5G-based services.
The revenue assurance market covered in this report is segmented -
1) By Component: Software, Services, Planning And Consulting, Implementation And Customization, Support And Maintenance, Managed Services
2) By Deployment Mode: Cloud, On-Premises
3) By Organization Size: Large Organizations, Small And Medium-Sized Enterprises (SMEs)
4) By End User: Banking, Financial Services And Insurance (BFSI), Telecommunication, Healthcare, Retail, Energy And Utilities, Other End Users
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Major companies operating in the revenue assurance market are Accentur*e plc, Deloitte Touche Tohmatsu Limited, Hewlett Packard Enterprise Company, Telefonaktiebolaget LM Ericsson, Nokia Corporation, Tata Consultancy Services Limited, Tech Mahindra Limited, Amdocs Limited, TransUnion LLC, Itron Inc., Sandvine Corporation, Mobileum Inc., TEOCO Corporation, eClerx Services Limited, Hansen Technologies, DigitalRoute AB, Cerillion Technologies Limited, Subex Limited, WeDo Technologies S.A., Sagacity Solutions Inc
Contents of the report:
1. Executive Summary
2. Revenue Assurance Market Report Structure
3. Revenue Assurance Market Trends And Strategies
4. Revenue Assurance Market - Macro Economic Scenario
5. Revenue Assurance Market Size And Growth
…..
27. Revenue Assurance Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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