The revenue assurance market is poised for substantial growth over the next decade, with a projected CAGR of 8.5%. According to industry forecasts, from 2023 to 2033, this market is expected to surge in value, ultimately reaching an impressive valuation of US$ 1479.9 million by 2033. This remarkable growth can be attributed to the increasing need for robust revenue protection solutions in an ever-evolving business landscape.
With businesses facing intricate revenue-related challenges, the demand for advanced revenue assurance tools and services is expected to escalate, driving the market’s expansion and making it a pivotal component in ensuring financial stability and integrity across industries.
The revenue assurance charter has evolved from ensuring revenue to ensuring margin and, more recently, ensuring business. The Revenue Assurance charter includes an unprecedented level of involvement in core business across verticals and silos. Traditional risks have evolved and new risks have emerged as telecom subscribers and partners have grown accustomed to the on-demand paradigm, threatening the success of real-time offers. Telecom executives are rapidly reengineering their risk framework to accommodate the volatile and critical nature of new business models.
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Key Takeaways from the Revenue Assurance Market Report:
● The Global Revenue Assurance Market is expected to reach a market size of US$ 605 Million by 2022.
● The Software segment, is expected to have the highest CAGR rate of 7.4% during the forecast period.
● The United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 452 Million during 2022 – 2032.
● The market in the United States is set to experience the highest CAGR of 7.6% during the 2022-2032 forecast period.
Competitive Landscape:
The market is fiercely competitive, where key players are increasingly focused on obtaining a competitive advantage. The key companies in the Revenue Assurance Market are focused on R&D to produce innovative technological solutions.
- In February 2020, Safaricom, Kenya’s largest mobile network operator, announced that it had completed revenue assurance implementation in collaboration with Amdocs, a provider of communications and media software and services. The project was created to offer Safaricom more comprehensive and adaptable revenue protection throughout the lifecycle of the company’s new service.
- In January 2020, Subex expanded its collaboration with Jawwal, Palestine’s leading mobile network provider. The collaboration’s goal was to get an update on the current versions of ROC Revenue Assurance and ROC Fraud Prevention.
Leading Key Players:
- Amdocs
- Araxxe Inc.
- Adapt IT
- Cartesian
- Digital Route
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To gain a competitive advantage in the industry, these market players are investing in product launches, partnerships, mergers and acquisitions, and expansions.
Due to the growing demand for the product around the world, several new companies are expected to enter the market. This is expected to increase competition on a worldwide scale. Additionally, market growth is expected to be fuelled by collaborations among current players to improve quality throughout the research period. Over the projection period, established market players are expected to diversify their portfolios and offer one-stop solutions to combat fierce competition.
Revenue Assurance Market Segmentation:
By Component:
- Software
- Services
- Revenue Assurance Planning and Consulting Services
- Revenue Assurance Implementation and Customization Services
- Revenue Assurance Support and Maintenance Services
- Revenue Assurance Managed Services
By Deployment Mode:
- Cloud-based Revenue Assurance
- On-premises-based Revenue Assurance
By End-User:
- TSPs
- Enterprises
By Vertical:
- Telecom
- Utilities
- BFSI
- Hospitality
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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