The global market for revenue assurance is projected to have considerable CAGR of around 10.5% during the forecast period. The market is mainly driven due to various factors such as increasing transaction data, growing adoption of digital solutions by the small and medium enterprises (SMEs), Rising trend towards advanced technologies such big data analytics, machine learning, and IoT. Strategically implemented and paired with skilled human oversight, technologies such as AI, big data, and IoT can produce a multitude of new efficiencies for enterprises. For data tracking and capture, manufacturers now have access to more resources. Data is being obtained from conventional sources including classic consumer surveys, and more innovative applications such as the IoT and smart sensors to capture machine readings. According to the organization in 2017, more than 4 billion people are connected to the internet compared to just 2.3 million in 1990. These billions of individuals are generating transaction data every second, which has led to the adoption of revenue assurance solutions in enterprises.  

 Segmental Outlook  

The global revenue assurance market is segmented based on deployment and industry. Based on the deployment, the market is further classified into cloud-based and on-premises. The cloud based segment is projected to have considerable growth owing to the growing demand of cloud based revenue assurance solutions due to cost-effectiveness and easy of operation across various enterprises. On the basis of industry the market is further segregated into BFSI, energy & utilities, retail, hospitality, telecom, and others.  

 Global revenue assurance Market Share by Industry, 2020-2026(%)

Global revenue assurance market to be driven by Telecom Industry

Among Industry, the telecom industry segment held a considerable share in the market. The market mainly driven due to the growing demand for rapid identification of revenue losses, mapping areas of problem for remediation, decreasing time to resolution, leveraging the efficiency and minimizing cost. The telecom enterprises have deployed revenue assurance solutions to ease the maintenance of revenue loses and fraud management in the industry. In addition, the growing demand for constant inspection, monitoring, and maintenance of components of the telecommunications network is driving the market growth in telecom industry. Furthermore the growing cases of revenue losses in the telecom industry further projected to propel the demand of revenue assurance solutions thus  contribute in the market growth. 

 Regional Outlook 

Geographically, the global revenue assurance market is further classified into North America, Europe, Asia-Pacific and the Rest of the World. Asia-Pacific is estimated to have considerable market growth in the global market during the forecast period. The market growth is attributed to the significant adoption of revenue assurance in economies such as China, Japan, India, South Korea, Thailand, and Australia. Further, growth in the industry vertical in these countries and increasing adoption digital solution in SMEs is also driving the market growth. 

Global revenue assurance Market Growth, by Region 2020-2026

North America to hold a considerable share in the global revenue assurance market

Geographically, North America is projected to hold a significant market share in the global revenue assurance market. Major economies which are anticipated to contribute to the North America revenue assurance market are the US and Canada. North America is dominating the revenue assurance market owing to wide adoption of revenue assurance solutions, significant presence of revenue assurance vendors and growing internet penetration. Additionally, the surging demand for revenue assurance solutions by various industry verticals such as BFSI, hospitality telecom, which are growing significantly in the region, is further driving the market growth. With the growing number of large, small and medium enterprises across the US and Canada, an increasing concern of big data management has been reported over the years. As a result, the companies hire revenue assurance providers for the optimal management of their revenue frauds with more security and flexibility. 

 Market Players Outlook

The key players in the revenue assurance market contributing significantly by providing different types of products and increasing their geographical presence across the globe. The key players of the market include Amdocs Group, Hewlett Packard Enterprise Development LP, Itron Inc., Nokia Corp., Tata Consultancy Services Ltd., and others. These market players adopt various strategies such as product launch, partnerships, collaborations, mergers, and acquisitions to sustain a strong position in the market. 

The Report Covers

• Market value data analysis of 2019 and forecast to 2026.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global revenue assurance market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.