Subscription & Billing Management Market is projected to register a moderate 14.0% CAGR in the forec
- dheeraj pawar
- Jul 29, 2020
- 2 min read
According to a research report "Subscription & Billing Management Market by Component (Software and Services), Organization Size (SMEs and Large Enterprises), Deployment Type (Cloud and On-premises), Vertical (IT, Telecom, and Media & Entertainment), and Region - Global Forecast to 2025" published by MarketsandMarkets, the global subscription & billing management market size to grow from USD 4.0 billion in 2020 to USD 7.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period. Major factors expected to drive the growth of the subscription & billing management market include rising adoption of subscription business models, increasing demand for reducing subscriber churn and improving customer retention, growing need for adhering to compliances, and increasing need for upgrading legacy system.
Browse 114 market data Tables and 36 Figures spread through 164 Pages and in-depth TOC on "Subscription & Billing Management Market - Global Forecast to 2024"
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North America to hold the largest market size during the forecast period
North America is expected to hold the largest market size during the forecast period. The US has emerged as the largest market for subscription & billing management, owing to the presence of the world’s leading telecom service providers and subscription & billing management vendors. With the rise in the adoption of Bring Your Own Device (BYOD) and cloud-based services, there has been an upsurge in the automation of subscription processes. Thus, large enterprises in North America are ready to spend more on subscription & billing software. Countries such as the US and Canada have been expansively implementing subscription billing software with the increasing adoption of mobile devices. The most prominent driver for growth in this region is the considerable adoption of cloud-based solutions across large enterprises and SMEs, particularly in the US.
Market Players
The major Subscription & Billing Management vendors include 2Checkout (US), Apttus (US), Aria Systems (US), BillingPlatform (US), Chargebee (US), Chargify (US), cleverbridge (Germany), Gotransverse (US), Recurly (US), SaaSOptics (US), Sage Intacct (UK), Salesforce (US), SAP (Germany), Vindicia (US), Zuora (US), Digital River (US), NetSuite (US), FastSpring (US), JustOn (Germany), Zoho (US), and Fusebill (Canada). These players have adopted various strategies to grow in the subscription & billing management market. Partnerships and new product launches have been the most dominating strategies adopted by major players from 2018 to 2020, which helped them innovate their offerings and increase their customer base.
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Aria Systems has adopted an organic growth strategy to maximize its foothold in the subscription & billing management market. In November 2019, the company announced the availability of its Aria Crescendo Monetization Platform on Microsoft Azure. Through this enhancement, Aria Systems would offer customers multiple options for deploying their solutions on multiple cloud platforms, including Microsoft Azure.
Zuora has also dominated the market with its organic growth strategies. In January 2020, Zuora partnered with Radiuz, a global Mobility-as-a-Service (MaaS) platform provider, to replace Radiuz’s home-grown billing system with Zuora Billing. The partnership aims at expanding Radiuz’s business in the B2C space with on-demand mobility access for individual consumers. This partnership would help Zuora expand its customer base.
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