The Revenue Assurance Market revenues were estimated at US$ 556 Mn in 2021 and is anticipated to grow at a CAGR of 7.9% from 2022-2032, according to a recently published Future Market Insights report. By the end of 2032, the market is expected to reach a valuation of US$ 1.3 Bn. Revenue assurance in the telecom industry is concerned with ensuring that charging and billing are as accurate as possible. As the telecom industry has grown and operators have expanded their service offerings, it is critical to monitor the system to avoid errors or fraud.
In the telecom industry, RA platforms ensure that tariffs are implemented consistently and that the billing system is error-free. According to the Fraud Loss Survey conducted by the Communications Fraud Control Association, various revenue frauds cost telecom operators US$ 29 Bn per year, equating to 1.3% of the global telecom revenues.
With the advent of digitalization, 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 Market Study
● Global Revenue Assurance Market is expected to reach a market size of US$ 605 Mn by 2022.
● The Software segment, is expected to have the highest CAGR rate of 7.4% during the forecast period.
● United States is expected to remain the most dominant market with an absolute dollar growth opportunity of US$ 452 Mn during 2022 – 2032.
● The market in United States is set to experience the highest CAGR of 7.6% during the 2022-2032 forecast period.
“During the projected period, the Rising Incidents of Revenue Leakage, the Arrival of Advanced Technology such as cloud, 4G/5G, IoT, Software-defined networking
(SDN), network function virtualization, and AI are key drivers in raising the Revenue Assurance market revenue. Furthermore, increased investments by key corporations in software development will benefit the Revenue Assurance industry trends in the coming years.” comments a Future Market Insights analyst.
Competitive Landscape
The market is fiercely competitive, where key players are increasingly focused to obtain 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 has 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 has expanded its collaboration with Jawwal, Palestine’s leading mobile network provider. The collaboration’s goal was to get an update to the current versions of ROC Revenue Assurance and ROC Fraud Prevention.
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The leading players in the global Revenue Assurance industry are
- Amdocs,
- Araxxe Inc.,
- Adapt IT,
- Cartesian, and
- Digital Route.
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.
Market Segments Covered in Revenue Assurance Market Analysis
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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