The Subscription & Billing Management Market will generate US$ 4.6 billion in sales globally in 2021, predicts Future Market Insights’ Subscription & Billing Management Market Analysis Report. Between now and 2022, the market is anticipated to expand at a 13.1% annual rate. The sector with the highest anticipated revenue growth rate (CAGR) between 2022 and 2032 is the software component.
The industries that use subscription & billing management software the most are utilities, entertainment, and media, as well as the public sector. The worldwide subscription & billing management industry is now attempting to attain the quality services and on-time management that service providers and businesses in these industries are obligated to give.
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To meet these needs current payment procedures and subscription management technologies must be both strong and very efficient. Value enhancements such as different payment choices, cheaper initial setup costs, precision driven billing, as well as automated invoicing are also expected from companies in the global subscription & billing management industry. These aspects contribute to differentiating the various leading competitors as well as new entries into the worldwide subscription & billing management industry.
However, the industry is now constrained by rising security concerns and worries about the usage of online platforms, which may make billing systems more vulnerable to external cyber-attacks. Clients are often discouraged from developing new procedures owing to the high costs involved with upgrading & maintaining the utilized billing solutions.
Competitive Landscape
- The Subscription & Billing Management Market is highly concentrated, with only a few competitors accounting for the vast majority of market share. The established firms are attempting to obtain supremacy in this sector. These companies are raising their profits as well as market shares through smart joint projects. Some development in this Subscription & Billing Management Market include:
- In April 2021, Cleverbridge, purchased by EMH Partners, a German private equity group. EMH Partners purchased 65% of cleverbridge. The EMH investment will help cleverbridge to expand its cloud platform. In 2020, cleverbridge reported processing and over US$ 782 Mn in payments in 60 various currencies across 190 countries.
- In December 2021, The Sage Group plc, the market leader in accounting, finance, HR, and payroll solutions for small and medium-sized businesses, announced the acquisition of Brightpearl, a cloud-native omnichannel retail management solution for retailers and wholesalers. Sage’s expansion plan, which includes scaling Sage Intacct, increasing the value offering for mid-sized enterprises, and expanding Sage’s digital network, is accelerated by the takeover of Brightpearl, wherein Sage already has a 17% minority ownership.
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More Insights Available
Future Market Insights, in its new offering, presents an unbiased analysis of the Subscription & Billing Management Market, presenting historical market data (2015-2021) and forecast statistics for the period of 2022-2032.
The study reveals extensive growth in Subscription & Billing Management Market in terms of Subscription & Billing Management Market by Subscription & Billing Management Market by Component (Software, Services), Deployment Mode (On-premises, Cloud), Organization Size (Large Enterprises, SMEs), Vertical (BFSI, Retail and e-Commerce, IT, Telecom, Media and Entertainment, Public Sector and Utilities, Transportation and Logistics, Others), across five regions (North America, Latin America, Europe, Asia Pacific, Middle East & Africa).
Market Segments Covered In Subscription & Billing Management Market Analysis
By Component:
- Software
- Services
- Consulting Services
- Implementation Services
- Support and Maintenance Services
- Professional Services
- Integration and Consulting
- Operation & Installation
- Maintenance & Repairing
By Deployment Size:
- On-premises
- Cloud
By Organization Size:
- Large Enterprises
- SMEs
By Vertical:
- BFSI
- Retail and eCommerce
- IT
- Telecom
- Media and Entertainment
- Public Sector and Utilities
- Transportation and Logistics
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
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