Growth opportunities in the Subscription & Billing Management Market look promising over the next six years. This is mainly due to their assistance in better management of subscribers, increasing need for upgrading legacy systems, and the aggravating requisite for adhering to compliance.
Subscription & Billing Management Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The major drivers proliferating the growth of the global subscription & billing management market include the augmenting requirement to improve the inheritance systems, increasing endorsement of subscription business models, surging need to observe the complaisance, and the escalating focus to decrease the subscriber churn to enhance customer retention. Also, customer churn is considered to be a crucial issue for organizations as attracting new customers is more costly than perpetuating the existing ones. Enormous enterprises have adopted these solutions to eliminate such challenges as they offer customized services like personalized promotion, advanced services, and purchase history as per the past activities of customers.
Businesses like Hulu and Netflix have acculturated these business tactics to influence the viewing behavior of individuals and offer a recommendation as per the customer’s preference, which in turn, will supplement the market growth. However, higher deployment and advancement costs to maintain the software might hinder the growth of the market.
Organization Size Segment Drivers
Based on organization size, the market is segmented into SMEs and large enterprises. Among these, the small and medium enterprises are projected to witness a higher CAGR during the forecast period. This is primarily attributed to the accelerated demand for economic management software. The easy accessibility of cost-effective capabilities allows them to maintain and compete in service market space and enhance customer engagement by proffering various benefits and services. Moreover, the aggravating attention to proffer better customer experience and the rising obligation to automate manual financial and accounting processes will strengthen the subscription & billing management market size.
Vertical Segment Drivers
On the basis of the vertical, IT is expected to dominate the market over the forecast period. This is mainly because of the notable drift from convention software to a subscription-based model. Moreover, emerging tech start-ups are also exercising usage-based charging in the B2B space leading to a boost in market growth.
Subscription & Billing Management Market’s leading Manufacturers:
- Vindicia Inc
- Chargify LLC
- SAP SE
- BillingPlatform LLC
- Apttus Corporation
- Zoho Corporation
- Chargebee Inc
- com Inc
- Aria Systems Inc
- Com Inc
Subscription & Billing Management Market Segmentation:
Segmentation by Component
- Software
- Services
- Professional Services
- Managed Services
Segmentation by Deployment Type
- On-Premises
- Cloud
Segmentation by Organization Size
- SMEs
- Large Enterprises
Segmentation by Vertical
- BFSI
- Retail and eCommerce
- IT
- Telecom
- Media and Entertainment
- Public Sector and Utilities
- Transportation and Logistics
- Others (Healthcare, Education, and Manufacturing)
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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