According to a research report “Revenue Assurance Market by Component (Software and Services), End-User (TSPs, and Enterprises), Deployment Mode (Cloud and On-premises), Vertical (Telecom, Utilities, BFSI, Hospitality, and Others), and Region — Global Forecast to 2025”, published by MarketsandMarkets, The revenue assurance market size is projected to grow from USD 512 million in 2020 to USD 782 million by 2025, at a Compound Annual Growth Rate (CAGR) of 8.9% during the forecast period. The major factors driving the growth of the revenue assurance market include the rise of the subscription economy, rising number of mobile and internet users, adoption of advanced technologies such as RPA, Big Data, AI, and IoT.
The services segment to record a larger market size during the forecast period
Revenue Assurance services are estimated to hold a larger market share during the forecast period in the revenue assurance market. Services portfolio includes planning and consulting, implementation and customization, support and maintenance, and managed services. These services enhance the revenue assurance portfolio of the services providers by offering customers with value creation, operational flexibility, and competitive advantage. Companies that lack in-house capabilities for revenue assurance of an organization outsource the functionality from expert Managed Service Providers (MSPs). With the growing demand for revenue assurance solutions, the services portfolio is expected to increase due to the market’s dependency on human-interaction for development and growth.
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By deployment model, the on-premises segment to record the larger market share during the forecast period
There is a large-scale adoption of revenue assurance solutions among large scale telecom service providers that have significant CAPEX and IT infrastructure investment capabilities. Therefore, the market share of on-premises deployment mode is higher as compared to cloud deployment mode, since the on-premises model gives various benefits such as data security, and lower-latency issues.
APAC to record the highest growth during the forecast period
APAC to record the highest growth during the forecast period due to the presence of growing network technologies, digital infrastructure, and smartphone and internet penetration. Countries, such as India, China, Australia, and Japan also contribute a major share to the APAC economy. These countries are experiencing major growth in data generation due to rapid digitalization and threat from hacker groups or terror networks with the increasing penetration of digital infrastructure and heavy investments on network technologies by key industry telecom players in the region.
Amdocs (US) and TCS (India) are leading players in Revenue Assurance Market
TCS, the India based conglomerate, offers the Hosted OSS/BSS (HOBS) revenue assurance solution to its clients in the telecommunication vertical. With its vivid presence in the telecommunication sector, TCS has undergone various inorganic growth strategize by partnering with various service providers to capture the market in the revenue assurance landscape. By partnering with DTH operator Tata sky, TCS was able to support the company in tackling its revenue leakage issues, and with Vodacom, the South African mobile communications company to improve revenue recovery by 40%. With its reliable brand name in the market, TCS is able to hold a top spot in the revenue assurance market, competing with top players of the market by catering to all type of telecommunication service providers.
Amdocs, a US-based telecommunication solution provider garnering most of its revenue from telecom giants such as AT&T, in US, is a well-established player in revenue assurance. The Revenue Guard service portfolio by Amdocs is a multi-solution platform deploying revenue assurance solution as an independent module. The company holds a large market share in market, and is growing by its unique offerings in revenue assurance market. It is achieving its revenue through license bases, and managed services model enabling it to offer services across the globe. With more than USD 0.2 bn investment in R&D, Amdocs is upgrading its products and solutions to support the telecom OSS/BSS portfolio, enabling them to grow in the field of revenue assurance.
Related Reports:
Revenue Assurance Market by Component (Software and Services), End-User (TSPs, and Enterprises), Deployment Mode (Cloud and On-premises), Vertical (Telecom, Utilities, BFSI, Hospitality, and Others), and Region — Global Forecast to 2025
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