Revenue Management Market See Explosive Growth of USD 34.05 billion by 2029

As per the report published by Fior Markets, the global revenue management market is expected to grow from USD 15.94 billion in 2021 and to reach USD 34.05 billion by 2029, growing at a CAGR of 9.95% during the forecast period 2021-2029.

The revenue management market is witnessing significant growth in the past years. This growth is attributed to the increased subscriber base & high levels of mobile penetration, adopting technological solutions to enhance business efficiencies & increase profits, the increasing need for competitive pricing approaches, the growing attention of key vendors towards mobile devices usage, and the growth in distribution via e-travel platforms are helping to boost the market growth.

Revenue management is the assemblage of strategies & tactics firms utilize to scientifically handle the need for their services & products. Revenue can be associated with supply chain management because it aims at reducing the price of delivering & producing the products hence improving the profit, so as the purpose of revenue management. The revenue management method examines the consumer’s perception of the value that the product would provide & makes straight the availability, placement, and price according to that perception.

The global revenue management market is expected to witness significant growth due to rising demand for revenue & channel management and upgrading the existing legacy system. Further, it supports predicting the consumer to demand & regulate inventory and valuation consequently to maximize is expected to drive the market growth during the forecast period. The engaging boost in need for channel & revenue management & upgrading the current inheritance method area unit is also helping to boost the market’s growth. The high prices of these solutions for deployment in various enterprise verticals are expected to hinder the market growth. The increasing awareness of the revenue management systems is expected to opportunities for market growth. The lack of skilled professionals is a challenge for the market growth.

Key players operating in the global revenue management market include Amdocs, Huawei, Netcracker, Oracle, Mahindra Comviva, Ericsson, CSG, SAP, Optiva, Cerillion, ZuoraREVPRO, Enghousenetworks, HQ Revenue, Accenture, IDeaS, Accelya, Workday, Apttus, R1RCM, Infor, and Fiserv, and among others. To gain a significant market share in the revenue management market, the key players are now focusing on adopting product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships. Vast Broadband & Netcracker are vital manufacturers operating in the revenue management market.

• For example, Vast Broadband selected Netcracker in October 2019 to produce an Operations Support System and BSS transformation program that will automate Vast Broadband’s end-to-end completion operations and decrease operational expenses. Netcracker will deliver a solution to improve its management & automate billing, consumer experience, service fulfillment, inventory, and outcome management.
• For example, Schurz Communications partnered amidst Netcracker in September 2019. It utilized its revenue management solution for the long lines company to simplify, standardize, and streamline the billing methods over various properties.

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The billing & payment solution segment dominated the market and held the largest market share of 56.12% in the year 2021

On the basis of components, the global revenue management market is segmented into solutions and services. The solutions segment is further sub-segmented into revenue assurance & fraud management, billing & payment, channel management, and price management. The services segment is further sub-segmented into managed services and professional services. Marketing segment dominated the market and held the largest market share of 56.12% in the year 2021. This growth is attributed to the improved consumer experiences through allowing end-to-end management of disputes & adjustments. Also, intense pricing pressure mainly deals with a considerable licensing element, which helps drive the segment’s growth.

Cloud segment dominated the market and held the largest market share of 57.21% in the year 2021

On the basis of deployment model, the global revenue management market is segmented into cloud and on-premise. Cloud segment dominated the market and held the largest market share of 57.21% in the year 2021. This growth is attributed to the adoption of cloud-based revenue management.

Large enterprise segment dominated the market and held the largest market share of 52.18% in the year 2021

On the basis of organization size, the global revenue management market is segmented into large enterprise and SMEs. Large enterprise segment dominated the market and held the largest market share of 52.18% in the year 2021. This growth is attributed to the increasing penetration of mobile devices globally.

Telecom segment dominated the market and held the largest market share of 20.12% in the year 2021

On the basis of vertical, the global revenue management market is segmented into retail & e-commerce, energy & utilities, government & defense, BFSI, manufacturing, healthcare, telecom, and others. Telecom segment dominated the market and held the largest market share of 20.12% in the year 2021. This growth is attributed to minimizing revenue assurance and maximizing revenue leaks in the telecommunications enterprise.