Revenue Assurance Market Thumbnail Image

2023

Revenue Assurance Market

Revenue Assurance Market Size, Share, Competitive Landscape and Trend Analysis Report by Component , by Deployment Type, by Application : Global Opportunity Analysis and Industry Forecast, 2022-2031

IC : Information, Infrastructure & Network Security

Select an option
Author's: Ankush Dilip Kawalkar | Surya Sanka
Publish Date:

Get Sample to Email

Revenue Assurance Market Statistics: 2031

The global revenue assurance market was valued at $507 million in 2021, and is projected to reach $1.3 billion by 2031, growing at a CAGR of 10% from 2022 to 2031.

Revenue assurance has been defined as the use of high-quality data and workflow improvement approaches to increase profitability, income, and cash flows through proper revenue collection for all given services. A significant portion of revenue assurance strategies involves correcting data before it enters the billing system and finding and repairing leakage points in the system's network and customer-facing systems.

Revenue Assurance Market

Revenue assurance is the process of ensuring that a company issues accurate bills in accordance with the contracts it has with its customers. If the terms of a contract are complex, billing errors may result in clients being undercharged. Even slight errors can add up over time and result in revenue leakage. Revenue assurance can help prevent revenue leakage and maximize both cash flow and revenue by routinely looking for discrepancies between contract wording and billing history. Revenue assurance includes manual inspections by a company's sales or account management teams, recurrent audits by dedicated revenue assurance teams, and automated procedures carried out by Artificial Intelligence (AI) software platforms to discover problems.

Revenue assurance is a complex and manual process that requires teams to meticulously review contracts and compare them with billing data to identify any errors in invoicing. This process can be time-consuming, especially since revenue assurance requires immediate attention. Delayed detection of errors may result in contractual obligations preventing the re-issuance of un-invoiced charges, ultimately leading to financial losses for businesses. These are the major factors projected to hamper the revenue assurance market growth in the upcoming years.

New technologies including cloud computing, the Internet of Things (IoT), software-defined networking (SDN), network functions virtualization (NFV), 4G/5G networks, and others have offered telecom operators the chance to introduce fresh services and business models. Telecom companies will be able to provide cutting-edge services like connected autos, smart cities, and remote healthcare owing to these techniques. Real-time revenue assurance is essential to guaranteeing that operator can monetize these services, which need a dependable and secure network architecture. The ability to monitor network traffic in real-time, spot irregularities and potential income leaks, and take corrective action before a problem arises is known as real-time revenue assurance. Therefore, operators' revenue streams are optimized, customer satisfaction is raised, and profitability is also raised.            

The key players revenue assurance market forecast in this report include Amdocs, Araxxe, Cartesian, Itron Inc, Hewlett Packard Enterprise Development LP, Subex Ltd, Wedo Technologies, Sandvine, Sigos, and Tata Consultancy Services Limited (India).

The revenue assurance market share is segmented on the basis of component, deployment type, application, and region. By component, it is classified into solutions and services. By deployment type, it is divided into cloud and on-premise. By application, it is classified into BFSI, telecom & IT, government, hospitality, and others. By region, the revenue assurance market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

Revenue Assurance Market by Component 

By component, the solutions sub-segment dominated the revenue assurance market in 2021. Revenue assurance tools assist in various revenue assurance solutions such as risk management, fraud management, and revenue recovery. In addition, these options help organizations to strengthen their revenue management and maintain regulatory compliance. In the telecommunication sector, revenue assurance solutions help to identify revenue leakage, identify anomalies, and take corrective actions to prevent revenue leakage. Revenue assurance solutions help in the detection and prevention of fraudulent actions in the banking & financial services industries. These technologies assist in guaranteeing proper invoicing and preventing revenue leakage due to errors in the healthcare industry.

Revenue Assurance Market by Deployment Type

By deployment type, the on-premise sub-segment dominated the global revenue assurance market share in 2021. The on-premises deployment segment currently holds the most market share as it has various advantages that are particularly appealing to enterprises in industries such as telecommunications, banking, healthcare, and retail. The on-premise implementation provides stronger security because the software and data are within the company's own infrastructure, limiting the danger of external breaches.

Revenue Assurance Market by Application

By application, the telecom and IT sub-segment dominated the market in 2021. One of the primary factors driving the demand for revenue assurance solutions in the telecom sector is the increase in prevalence of telecom fraud. Telecom providers face significant income loss due to several issues such as network problems, billing errors, and fraud. Revenue assurance solutions assist operators in determining the fundamental causes of revenue leakage and taking corrective action to avoid further losses. These are predicted to be the major factors driving the revenue assurance market size during the forecast period.

Revenue Assurance Market by Region

By region, North America accounted for a dominant market share in 2021 and is projected to remain the fastest-growing during the forecast period. North America is anticipated to experience significant growth due to the increasing popularity of cloud computing and the rising need to increase operational efficiency in large companies and SMEs. The revenue assurance market is developing in North America owing to the region's cutting-edge IT and telecom infrastructure and high level of digital maturity. This is driving demand for revenue assurance solutions that can help to reduce revenue leakages. Also, the North America revenue assurance market is dominated by reputable rivals such as TEOCO, Subex, and Hewlett Packard Enterprise. The widespread implementation of modern technologies such as AI and cloud-based solutions, as well as the rising need for revenue assurance solutions in the healthcare and retail sectors, are factors boosting the demand for the revenue assurance market in North America.

Impact of COVID-19 on the Industry

  • The COVID-19 pandemic had a significant impact on the global revenue assurance industry, as businesses around the world had to rapidly adapt to new ways of working and managing data remotely.
  • The pandemic also emphasized the need for revenue assurance in controlling cash flows and preventing leakages, resulting in an increase in demand for revenue assurance solutions in industries such as healthcare and retail.
  • The pandemic also highlighted the significance of data privacy and security, as businesses had to handle sensitive data across a wide range of remote devices and networks. This resulted in an increase in investments in cybersecurity and data protection solutions as organizations seek to limit the risks of data breaches and other cyber threats.
  • Many industries have experienced budget constraints and cost-cutting measures as a result of the pandemic, which is projected to limit the adoption of revenue assurance solutions that require significant upfront investment in the post-pandemic period.

Key Benefits For Stakeholders

  • This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the revenue assurance market analysis from 2021 to 2031 to identify the prevailing revenue assurance market opportunities.
  • The market research is offered along with information related to key drivers, restraints, and opportunities.
  • Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
  • In-depth analysis of the revenue assurance market segmentation assists to determine the prevailing market opportunities.
  • Major countries in each region are mapped according to their revenue contribution to the global market.
  • Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
  • The report includes the analysis of the regional as well as global revenue assurance market trends, key players, market segments, application areas, and market growth strategies.

Revenue Assurance Market Report Highlights

Aspects Details
icon_1
Market Size By 2031

USD 1.3 billion

icon_2
Growth Rate

CAGR of 10%

icon_3
Forecast period

2021 - 2031

icon_4
Report Pages

280

icon_5
By Application
  • BFSI
  • Telecom and IT
  • Government
  • Hospitality
  • Others
icon_6
By Component 
  • Solutions
  • Services
icon_7
By Deployment Type
  • Cloud
  • On-premise
icon_8
By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, UK, France, Spain, Italy, Rest of Europe)
  • Asia-Pacific  (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, UAE, Saudi Arabia, South Africa, Rest of LAMEA)
icon_9
Key Market Players

wedo technologies, Cartesian, Itron Inc, Subex Ltd, Amdocs, Tata Consultancy Services Limited (India), Sigos, araxxe, Sandvine, Hewlett Packard Enterprise Development LP

Analyst Review

Revenue Assurance is a software solution that enables a telecommunications provider (CSP) to inspect and plug dozens of actual or possible leakage points throughout the network and customer-facing systems, as well as correct data before it reaches the billing system. revenue Assurance market share has increased due to leakages that occur whenever revenue that has been generated by the company and when services are delivered to the customer is lost on its route to the billing systems and the consumer is never debited, which is driving the market's growth.  Data privacy is anticipated to restrict market expansion during the forecast period. The majority of companies use open-source software that includes a variety of techniques and algorithms to manage data. If the data is not sufficiently protected, hackers can readily obtain the source code as the majority of processes and algorithms are run through open sources. Due to the advent of new technologies, the arrival of over-the-top (OTT) services enhances competition from players with extremely disruptive business models, even in national markets, giving operators the opportunity to introduce new business models and services. Many communication service providers use revenue assurance in service models of operation for system integration, which has boosted the growth of the Revenue Assurance market. These factors are anticipated to drive the expansion of the electronic data management market.

Among the analyzed regions, North America is expected to account for the highest revenue in the market by the end of 2031, followed by Asia-Pacific, Europe, and LAMEA. Rapid growth in the telecommunication sector, BFSI, and retail industries is the key factor responsible for the leading position of North America and Asia-Pacific in the global revenue assurance market.

Author Name(s) : Ankush Dilip Kawalkar | Surya Sanka
Frequently Asked Questions?

Revenue assurance is a method used by enterprises to discover, analyze, reduce, and prevent revenue loss through a variety of measures. Its goal is to limit the likelihood of losses due to mistakes, negligence, or fraud. The revenue assurance market growth is anticipated to expand in the upcoming years as companies across all sectors continue to look for strategies to minimize revenue loss and maximize profitability.

The major growth strategies adopted by the revenue assurance market players are investment and agreement.

Asia-Pacific will provide more business opportunities for the global revenue assurance market in the future.

Amdocs, Araxxe, Cartesian, Itron Inc, Hewlett Packard Enterprise Development LP, Subex Ltd, Wedo Technologies, Sandvine, Sigos, and Tata Consultancy Services Limited are the major players in the revenue assurance market.

The telecom & IT sub-segment of the application segment acquired the maximum share of the global revenue assurance market in 2021.

BFSI, telecommunications, government, and hospitality are the major customers of the global revenue assurance market.

The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global revenue assurance market from 2021 to 2031 to determine the prevailing opportunities.

Revenue assurance is essential to any successful business model since it helps to secure long-term growth while mitigating revenue growth risks. Revenue assurance benefits firms in a variety of ways, including reducing profit loss and enhancing operational efficiency, which is expected to drive its adoption.

Loading Table Of Content...

Loading Research Methodology...

Individual sections of the reports are available for purchase.
Would you like to see a breakdown of prices by section?

Revenue Assurance Market

Global Opportunity Analysis and Industry Forecast, 2022-2031