According to Future Market Insights recently published analysis report, the global revenue assurance market was US$ 603.2 million in 2022. With an 8.5% predicted growth rate, the market is anticipated to reach a valuation of US$ 1479.9 million by 2033.
The market for revenue assurance software and services is likely to rise throughout the forecast period as customers become cognizant of the potential implications of revenue leakage. Also, the revenue assurance industry is growing having the aim of assuring that everything that needs to be paid and invoiced gets paid and billed on time across all revenue and expenditure streams. In the subsequent months, demand growth should quicken.
Advancements in technology are extremely likely to generate opportunities for the market throughout the forecast time frame. Also, Cloud, 4G, and 5G networks, the Internet of Things, and software-defined networking and network function virtualization technologies allow operators to introduce new business models and services. Further, they also enable the introduction of new instances of fraud.
Traditional systems are unsuitable for dealing with today’s mobile environment’s complications which leads to revenue loss and profit depreciation. Moreover, the development of novel methodologies and procedures such as real-time revenue assurance is expected to promote market growth in the coming years.
Key Takeaways
- Software is forecasted to be the significantly revenue-generating category, with a CAGR of 7.4% from 2023 to 2033.
- The market expanded at an 8% CAGR over the last five years.
- North America is expected to account for 51% of the worldwide revenue assurance Market.
- Revenue assurance software is expected to lead the market at a CAGR of roughly 12% between 2023 and 2033.
- Over the next few decades, the United States is anticipated to thrive at an 8.6% CAGR.
Competitive Landscape
The prominent revenue assurance providers in the global revenue assurance market are spending on new offerings, collaborations, mergers and acquisitions, and expansions to obtain a competitive advantage in the sector.
- Subex, a telecom analytics solution provider, has been awarded a five-year contract with Inwi, a leading Moroccan telecom administrator. It is to upgrade its present Revenue Assurance and Fraud Management (RAFM) system to HyperSense Business Assurance and Fraud Management, with Managed Services support, in June 2023.
The Posts and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) announced measures in June 2022 to track telecommunications networks for revenue assurance purposes, meaning that the present system, in which suppliers report their earnings, may no longer be adequate.
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
- Latin America
- Western Europe
- Eastern Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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