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Revenue Assurance Market Size is forecast to reach $780 million by 2026, at a CAGR of 9% during 2021-2026. Revenue Assurance is a software solution that enables the communication service provider (CSP) to examine and plug dozens of actual or potential leakage points throughout the network and customer-facing systems, and to correct data before it reaches the billing system. Revenue Assurance market share has increased due to leakages that arise when revenue that has been earned by the company and when services are rendered to the customer when lost on its way to the billing systems and the customer never gets debited is driving the growth of the market. The arrival of over-the-top (OTT’s) services intensifies competition, even in national markets, from players with extremely disruptive business models due to the introduction of new technologies are creating opportunities for operators to launch new business models and services. Many of the communication service providers deploy the revenue assurance at subscription business models for system integration purposes which has thereby boosted the growth of the Revenue Assurance market.
Revenue Assurance Market Segment Analysis – By Deployment Type
The cloud segment is growing at a significant market value of 13% in the forecast period as it is used by most of the end users to store and process their critical data within the firewall of organizations and the private cloud also provides high levels of security and encryption. Cloud deployment provides the ability to spend more on the hardware and storage options due to which large enterprises use more the cloud Infrastructure. Cloud infrastructure is a software-as-service platform for storing and accessing critical data. The power sector generated 12,500 MW of electricity in 2020 to power the nation’s economy but despite this 20 million households are left without electricity in the country owing to the lack of robust power infrastructure along with the lack of power plants. Due to this, there is a surge in demand for revenue assurance leading to the government spending on electric projects, In 2019, the government allocated $6.13 billion investment of its Federal Government Budget for power and electricity projects. All these factors are analyzed to boost the growth of the market in the forecast period 2020-2026.
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Revenue Assurance Market Segment Analysis – By End Users
The Telecommunicationsector is expected to witness a highest CAGR of 5%the forecast period owing to the increasing incidences of telecom fraud. In 2019, Huawei a telecommunication equipment company has committed to invest up to $800 million over the next three years to expand its presence in Brazil via a new manufacturing facility in São Paulo. As the Brazilian telecoms are planning to make the telecom sector world’s largest 5G spectrum in the year 2020. Middle East is one of the fastest-growing regions in broadband penetration, cellular networks and others. The high broadband and internet penetration have led to the rise in companies that rely on the internet leading to the growth of the telecommunication sector.
Revenue Assurance Market Segment Analysis – By Geography
North America region held significant market share of 14% in 2020. North American Telecommunication markets owing to the growth of device and module manufacturers, communication service providers, IoT platform players, applications, analytics and security software vendors and professional service providers have poised for Internet of Things. As there is an upsurge in population the served mobile subscribers are rising owing to which the revenue assurance market is growing. According to the U.S. Small Business Administration, the country has 30.2 billion small and medium-sized firms, many of which employ enterprise software to minimize the costs and complexity of internal technical systems. The presence of hyper-scale data centres in the United States is a key element in maintaining a dominant market share for cloud-based technology. As a result, demand for cloud-based revenue assurance in the United States is increasing. These factors have driven the growth of revenue assurance market in this region.
Revenue Assurance Market Drivers
Emergence of IoT is expected to drive the need for revenue assurance services:
IoT provides the potential to control more devices more effectively and more affordably cloud. When combined with analytics, organizations can obtain greater insights, enabling them to boost manufacturing performance, improve product quality and carry out preventative maintenance. Growing supply chain complexity has increased the demand for revenue assurance solution which set to provide opportunities for the market growth. In smart industries, revenue assurance services which enables operators to have high speed, agility, and effective management of revenue and fraud. The integration of different digital transformation technologies in the cloud is significantly becoming prevalent, as it provides exceptional benefits such as increasing efficiency, improving safety, predictive maintenance, and reducing errors and costs.
Growth of the Energy and Utilities is creating new prospects for the growth of the market:
Growth of energy and utilities has propelled the growth of market owing to the increasing awareness of the serious impact of revenue leakage on the overall profitability of the organization.In 2019, Kuwait had an installed electric generation capacity of 18.8 gigawatts (GW), with nine power plants. Steam generation accounted for nearly half of total capacity, with combined-cycle steam and gas plants making up another 40%. Open-cycle gas-fired generation accounted for some 8% in 2019. The Al-Zour Refinery project (ZOR) complex accounts for nearly 40% of total power generation capacity. All these fueled the growth of revenue assurance market growth.
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Revenue Assurance Market Challenges:
Relatively high initial cost and maintenance cost for the deployment of cloud based revenue assurance hindering the market growth:
Although the cloud deployment has become an essential part of all the industries to maintain high level of security and encryption but the community cloud model have high initial cost as compared to the on-premises along with high maintenance cost. In addition, cloud deployment has limited bandwidth and storage due to which multiple organizations sharing same bandwidth and resources becomes a matter of concern. This bandwidth and maintenance cost in cloud model of applications are analyzed to restrain the growth of the market in the forecast period 2020-2026.
Revenue Assurance Market Landscape
Product launches, acquisitions, Partnerships and R&D activities are key strategies adopted by players in the Revenue AssuranceMarket. Revenue AssuranceMarket top 10 companies include
In July 2019, Subex partnered with Turk Telekom to upgrade the existing Moneta deployments to ROC Revenue Assurance V6 platform and utilize the myriad of capabilities for providing ROC RA platform.
In March 2020, Subex partnered with Jawwal for optimizing digital services for optimizing revenue streams.
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