The revenue assurance market is poised for substantial growth over the next decade, with a projected CAGR of 8.5%. According to industry forecasts, from 2023 to 2033, this market is expected to surge in value, ultimately reaching an impressive valuation of US$ 1479.9 million by 2033. This remarkable growth can be attributed to the increasing need for robust revenue protection solutions in an ever-evolving business landscape.
With businesses facing intricate revenue-related challenges, the demand for advanced revenue assurance tools and services is expected to escalate, driving the market’s expansion and making it a pivotal component in ensuring financial stability and integrity across industries.
The revenue assurance charter has evolved from ensuring revenue to ensuring margin and, more recently, ensuring business. The Revenue Assurance charter includes an unprecedented level of involvement in core business across verticals and silos. Traditional risks have evolved and new risks have emerged as telecom subscribers and partners have grown accustomed to the on-demand paradigm, threatening the success of real-time offers. Telecom executives are rapidly reengineering their risk framework to accommodate the volatile and critical nature of new business models.
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Key Takeaways from the Revenue Assurance Market Report:
The global revenue assurance market is poised for substantial growth, projected to reach US$605 million by 2022. The software segment is anticipated to exhibit the highest CAGR of 7.4% throughout the forecast period. With an absolute dollar growth opportunity of US$452 million from 2022 to 2032, the United States is expected to maintain its dominance in the market, experiencing the highest CAGR of 7.6% during this period.
Competitive Landscape:
The market is fiercely competitive, where key players are increasingly focused on obtaining a competitive advantage. The key companies in the Revenue Assurance Market are focused on R&D to produce innovative technological solutions.
In February 2020, Safaricom, Kenya’s largest mobile network operator, announced that it had completed revenue assurance implementation in collaboration with Amdocs, a provider of communications and media software and services. The project was created to offer Safaricom more comprehensive and adaptable revenue protection throughout the lifecycle of the company’s new service.
In January 2020, Subex expanded its collaboration with Jawwal, Palestine’s leading mobile network provider. The collaboration’s goal was to get an update on the current versions of ROC Revenue Assurance and ROC Fraud Prevention.
Leading Key Players:
Amdocs, Araxxe Inc., Adapt IT, Cartesian, Digital Route
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