The revenue management software market is predicted to increase significantly at a 13.5% CAGR during the forecast period, reaching an estimated value of US$ 71.27 billion by 2033. In 2023, the global market size is expected to surpass US$ 20.09 billion. Risk Management solution is expected to be the leading revenue-generating category, with a projected CAGR of 12.2% from 2023 to 2033.
Revenue management software provides flexibility by enabling users to connect on any device and giving them access to current data. Systems for managing revenue make it possible for companies to save their data on the cloud.
Shifting toward cloud-based deployment is an emerging trend for all sectors, and it has a great impact on the revenue management software demand. Businesses must emphasize mobile optimization to avoid falling behind their competitors. Due to this, making a website mobile-friendly guarantees that the pages load quickly and display information on various mobile devices.
Customers can pay for goods or services depending on their usage thanks to subscription-based billing and revenue management methods (pay-as-you-go). Also, the automated and standard invoicing and revenue management procedures for subscription-based services are reliable and secure.
As it helps in the management of high-quality data in terms of products, entitlements, customers, and partners - supported by an integrated application architecture, it is likely to be an excellent profit deal for revenue management software companies.
The necessity for aggressive pricing strategies and increasing improvements to older revenue and channel management software are fueling the market's expansion further. Better pricing strategies for long-term decisions based on competitor data and evolving trends are made possible with the aid of revenue management software applications.
Attributes | Details |
---|---|
Revenue Management Software Market CAGR (2023 to 2033) | 13.5% |
Revenue Management Software Market Size (2023) | US$ 20.09 billion |
Revenue Management Software Market Size (2033) | US$ 71.27 billion |
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According to FMI, the revenue management software industry is predicted to expand from a historical 9.6% CAGR to 13.5% CAGR during the forecast period.
Many systems are inextricably linked to revenue management and contribute to its success in the BFSI and telecommunications industries, such as channel managers, rate shoppers, and market share providers.
Increased customer awareness and growing demand for system integration are driving the global revenue management software sector. Furthermore, increased distribution of ancillaries through e-travel platforms propels market growth.
The implementation of revenue management software is booming, as it helps businesses predict market trends. By implementing the new technologies, market leaders are extending their consumer base.
PROS, for example, is a market leader in revenue management technology. In addition to highlighting important revenue drivers, it uses more than 30 years of data science, predictive analysis, and machine learning to create a strong management system.
This is done to foresee market trends and forecast more precisely, without the need for new data. PROS' revenue management solutions can incorporate additional factors like brand loyalty and scheduling habits to create consistently profitable revenue models through scientific methods.
Risk Management solution is forecast to have a leading CAGR of over 12.2% by 2033. Risk management strategies can aid in the reduction or elimination of risks, while also trying to capitalize on the opportunity afforded by complex Black Swan incidents.
This goal can be achieved through the use of project risk, risk process initiation, risk assessment, risk evaluation, activity recognition, retrieval, communication, and learning.
Revenue management is shifting its focus from core product output to overall contribution from all sales opportunities, which is increasingly resulting in profit optimization. Revenue management has progressed from a yield enhancement function to a more strategic function encompassing finance, advertising, and operational processes.
The primary drivers of this evolution have been the internet's emergence and the purchasing power it has transmitted to the consumer. During both boom-and-bust economic cycles, effective strategic revenue management has become critical to the success and longevity of hospitality sector organizations.
Revenue management has been shown by low-cost carriers to significantly increase load factors and earnings. A highly competitive model of aggressive cost management combined with yield management and customer relationship management has emerged as a result of positive customer feedback.
Cloud deployment of revenue management software is forecast to grow at the leading CAGR of over 12% by 2033. The adoption of cloud computing is accelerating in nearly every business function. In the end, the deployment of cloud systems outperforms that of on-premise systems.
At its most basic, the cloud improves efficiency. In addition to increased efficiency, switching to cloud-based revenue management software is likely to provide customers with additional benefits.
According to a survey conducted by Flexera, about half of the decision-makers intend to increase their cloud usage and spending. The adoption of public clouds is likely to accelerate in the future, with 36% of businesses spending more than US$12 million per year on public clouds and 90% expecting cloud utilization to outweigh previous forecasts.
Regions | Key Players’ Developments |
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North America |
|
Europe | The multi-tenanted BSS platform from Cerillion went operational for LINK Mobility in numerous European nations in November 2022. LINK standardized its billing procedures in Europe with the aid of Cerillion. |
Asia Pacific | Reliance Jio, an Indian provider of telecom services, declared in August 2022 that it had won an auction held by the Indian government's Ministry of Communications to purchase spectrum in the 1800 MHz, 800 MHz, 3300MHz, 26GHz, and 700 MHz bands. They can start rolling out their 5G network services thanks to this acquisition. |
The United States is expected to account for the leading market share of US$ 36.8 billion by 2033. Technological advancements and an increase in the number of software development activities are the key drivers of growth in the region.
For instance, in June 2022, Swire Hotels selected the IDeaS G3 revenue management system to unify its group revenue management approach across its seven hotels.
Previously, Swire Hotels approached revenue management on an individual property basis, resulting in the use of various vendors and systems across its portfolio. Swire Hotels sought to standardize its revenue management process in order to improve group efficiency.
G3 RMS intends to increase revenue by offering a unified version of data and analysis at the group level. Swire Hotels benefit from IDeaS's strategic revenue management support at the property and group levels as their portfolio grows.
IDeaS G3 RMS calculates the cost of acquiring clients through a specific channel or OTA. This information helps restaurant owners determine the long-term value of a channel, in contrast to the costs of obtaining reservations via that channel.
The demand for effective revenue management solutions to improve pricing strategies and increase profitability is one of the many factors driving the growth of the revenue management software sector in the United Kingdom. Furthermore, by enabling more precise and real-time revenue forecasting and pricing optimization, the development of sophisticated analytics and artificial intelligence (AI) technologies is further boosting the market growth in the United Kingdom.
By enabling more precise and real-time revenue forecasting and pricing optimization, the growth of e-commerce platforms and online shopping trends are helping to fuel the sector's strong CAGR of 18.6% by 2033 in China.
The market expansion in the area is also being fueled by the growing use of revenue management software across a number of sectors, including hospitality, transportation, and retail.
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To remain competitive in the ecosystem of the revenue management software market, players that operate in it frequently use inorganic development techniques.
Recent Development:
The market to secure a valuation of US$ 20.09 billion in 2023.
The market is estimated to reach US$ 71.27 billion by 2033.
Through 2033, the market is anticipated to expand at a 13.5% CAGR.
The global market advanced at a HCAGR of 9.6% from 2018 to 2022.
With a projected CAGR of 12.2% through 2033, the risk management solution may be a lucrative revenue-generating category.
By 2033, the United States ought to have a significant share of the market, reaching to US$ 36.8 billion.
1. Executive Summary | Revenue Management Software Market 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022 4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Component, 2018 to 2022 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Component, 2023 to 2033 5.3.1. Solution 5.3.2. Services 5.4. Y-o-Y Growth Trend Analysis By Component, 2018 to 2022 5.5. Absolute $ Opportunity Analysis By Component, 2023 to 2033 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Deployment, 2018 to 2022 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Deployment, 2023 to 2033 6.3.1. Cloud Based 6.3.2. On-Premise 6.4. Y-o-Y Growth Trend Analysis By Deployment, 2018 to 2022 6.5. Absolute $ Opportunity Analysis By Deployment, 2023 to 2033 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Verticals 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Verticals, 2018 to 2022 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Verticals, 2023 to 2033 7.3.1. IT & Telecom 7.3.2. Hospitality 7.3.3. Travel and Tourism 7.3.4. Retail and E-commerce 7.3.5. Banking 7.3.6. Healthcare 7.3.7. Insurance 7.3.8. Media & Entertainment 7.3.9. Others 7.4. Y-o-Y Growth Trend Analysis By Verticals, 2018 to 2022 7.5. Absolute $ Opportunity Analysis By Verticals, 2023 to 2033 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. Introduction 8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022 8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033 8.3.1. North America 8.3.2. Latin America 8.3.3. Europe 8.3.4. South Asia 8.3.5. East Asia 8.3.6. Oceania 8.3.7. MEA 8.4. Market Attractiveness Analysis By Region 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 9.2.1. By Country 9.2.1.1. USA 9.2.1.2. Canada 9.2.2. By Component 9.2.3. By Deployment 9.2.4. By Verticals 9.3. Market Attractiveness Analysis 9.3.1. By Country 9.3.2. By Component 9.3.3. By Deployment 9.3.4. By Verticals 9.4. Key Takeaways 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 10.2.1. By Country 10.2.1.1. Brazil 10.2.1.2. Mexico 10.2.1.3. Rest of Latin America 10.2.2. By Component 10.2.3. By Deployment 10.2.4. By Verticals 10.3. Market Attractiveness Analysis 10.3.1. By Country 10.3.2. By Component 10.3.3. By Deployment 10.3.4. By Verticals 10.4. Key Takeaways 11. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 11.2.1. By Country 11.2.1.1. Germany 11.2.1.2. United Kingdom 11.2.1.3. France 11.2.1.4. Spain 11.2.1.5. Italy 11.2.1.6. Rest of Europe 11.2.2. By Component 11.2.3. By Deployment 11.2.4. By Verticals 11.3. Market Attractiveness Analysis 11.3.1. By Country 11.3.2. By Component 11.3.3. By Deployment 11.3.4. By Verticals 11.4. Key Takeaways 12. South Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 12.2.1. By Country 12.2.1.1. India 12.2.1.2. Malaysia 12.2.1.3. Singapore 12.2.1.4. Thailand 12.2.1.5. Rest of South Asia 12.2.2. By Component 12.2.3. By Deployment 12.2.4. By Verticals 12.3. Market Attractiveness Analysis 12.3.1. By Country 12.3.2. By Component 12.3.3. By Deployment 12.3.4. By Verticals 12.4. Key Takeaways 13. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 13.2.1. By Country 13.2.1.1. China 13.2.1.2. Japan 13.2.1.3. South Korea 13.2.2. By Component 13.2.3. By Deployment 13.2.4. By Verticals 13.3. Market Attractiveness Analysis 13.3.1. By Country 13.3.2. By Component 13.3.3. By Deployment 13.3.4. By Verticals 13.4. Key Takeaways 14. Oceania Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 14.2.1. By Country 14.2.1.1. Australia 14.2.1.2. New Zealand 14.2.2. By Component 14.2.3. By Deployment 14.2.4. By Verticals 14.3. Market Attractiveness Analysis 14.3.1. By Country 14.3.2. By Component 14.3.3. By Deployment 14.3.4. By Verticals 14.4. Key Takeaways 15. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033 15.2.1. By Country 15.2.1.1. GCC Countries 15.2.1.2. South Africa 15.2.1.3. Israel 15.2.1.4. Rest of MEA 15.2.2. By Component 15.2.3. By Deployment 15.2.4. By Verticals 15.3. Market Attractiveness Analysis 15.3.1. By Country 15.3.2. By Component 15.3.3. By Deployment 15.3.4. By Verticals 15.4. Key Takeaways 16. Key Countries Market Analysis 16.1. USA 16.1.1. Pricing Analysis 16.1.2. Market Share Analysis, 2022 16.1.2.1. By Component 16.1.2.2. By Deployment 16.1.2.3. By Verticals 16.2. Canada 16.2.1. Pricing Analysis 16.2.2. Market Share Analysis, 2022 16.2.2.1. By Component 16.2.2.2. By Deployment 16.2.2.3. By Verticals 16.3. Brazil 16.3.1. Pricing Analysis 16.3.2. Market Share Analysis, 2022 16.3.2.1. By Component 16.3.2.2. By Deployment 16.3.2.3. By Verticals 16.4. Mexico 16.4.1. Pricing Analysis 16.4.2. Market Share Analysis, 2022 16.4.2.1. By Component 16.4.2.2. By Deployment 16.4.2.3. By Verticals 16.5. Germany 16.5.1. Pricing Analysis 16.5.2. Market Share Analysis, 2022 16.5.2.1. By Component 16.5.2.2. By Deployment 16.5.2.3. By Verticals 16.6. United Kingdom 16.6.1. Pricing Analysis 16.6.2. Market Share Analysis, 2022 16.6.2.1. By Component 16.6.2.2. By Deployment 16.6.2.3. By Verticals 16.7. France 16.7.1. Pricing Analysis 16.7.2. Market Share Analysis, 2022 16.7.2.1. By Component 16.7.2.2. By Deployment 16.7.2.3. By Verticals 16.8. Spain 16.8.1. Pricing Analysis 16.8.2. Market Share Analysis, 2022 16.8.2.1. By Component 16.8.2.2. By Deployment 16.8.2.3. By Verticals 16.9. Italy 16.9.1. Pricing Analysis 16.9.2. Market Share Analysis, 2022 16.9.2.1. By Component 16.9.2.2. By Deployment 16.9.2.3. By Verticals 16.10. India 16.10.1. Pricing Analysis 16.10.2. Market Share Analysis, 2022 16.10.2.1. By Component 16.10.2.2. By Deployment 16.10.2.3. By Verticals 16.11. Malaysia 16.11.1. Pricing Analysis 16.11.2. Market Share Analysis, 2022 16.11.2.1. By Component 16.11.2.2. By Deployment 16.11.2.3. By Verticals 16.12. Singapore 16.12.1. Pricing Analysis 16.12.2. Market Share Analysis, 2022 16.12.2.1. By Component 16.12.2.2. By Deployment 16.12.2.3. By Verticals 16.13. Thailand 16.13.1. Pricing Analysis 16.13.2. Market Share Analysis, 2022 16.13.2.1. By Component 16.13.2.2. By Deployment 16.13.2.3. By Verticals 16.14. China 16.14.1. Pricing Analysis 16.14.2. Market Share Analysis, 2022 16.14.2.1. By Component 16.14.2.2. By Deployment 16.14.2.3. By Verticals 16.15. Japan 16.15.1. Pricing Analysis 16.15.2. Market Share Analysis, 2022 16.15.2.1. By Component 16.15.2.2. By Deployment 16.15.2.3. By Verticals 16.16. South Korea 16.16.1. Pricing Analysis 16.16.2. Market Share Analysis, 2022 16.16.2.1. By Component 16.16.2.2. By Deployment 16.16.2.3. By Verticals 16.17. Australia 16.17.1. Pricing Analysis 16.17.2. Market Share Analysis, 2022 16.17.2.1. By Component 16.17.2.2. By Deployment 16.17.2.3. By Verticals 16.18. New Zealand 16.18.1. Pricing Analysis 16.18.2. Market Share Analysis, 2022 16.18.2.1. By Component 16.18.2.2. By Deployment 16.18.2.3. By Verticals 16.19. GCC Countries 16.19.1. Pricing Analysis 16.19.2. Market Share Analysis, 2022 16.19.2.1. By Component 16.19.2.2. By Deployment 16.19.2.3. By Verticals 16.20. South Africa 16.20.1. Pricing Analysis 16.20.2. Market Share Analysis, 2022 16.20.2.1. By Component 16.20.2.2. By Deployment 16.20.2.3. By Verticals 16.21. Israel 16.21.1. Pricing Analysis 16.21.2. Market Share Analysis, 2022 16.21.2.1. By Component 16.21.2.2. By Deployment 16.21.2.3. By Verticals 17. Market Structure Analysis 17.1. Competition Dashboard 17.2. Competition Benchmarking 17.3. Market Share Analysis of Top Players 17.3.1. By Regional 17.3.2. By Component 17.3.3. By Deployment 17.3.4. By Verticals 18. Competition Analysis 18.1. Competition Deep Dive 18.1.1. Accelya Solutions India Ltd 18.1.1.1. Overview 18.1.1.2. Product Portfolio 18.1.1.3. Profitability by Market Segments 18.1.1.4. Sales Footprint 18.1.1.5. Strategy Overview 18.1.1.5.1. Marketing Strategy 18.1.2. Amdocs Ltd 18.1.2.1. Overview 18.1.2.2. Product Portfolio 18.1.2.3. Profitability by Market Segments 18.1.2.4. Sales Footprint 18.1.2.5. Strategy Overview 18.1.2.5.1. Marketing Strategy 18.1.3. Cerillion Plc 18.1.3.1. Overview 18.1.3.2. Product Portfolio 18.1.3.3. Profitability by Market Segments 18.1.3.4. Sales Footprint 18.1.3.5. Strategy Overview 18.1.3.5.1. Marketing Strategy 18.1.4. CSG Systems International Inc. 18.1.4.1. Overview 18.1.4.2. Product Portfolio 18.1.4.3. Profitability by Market Segments 18.1.4.4. Sales Footprint 18.1.4.5. Strategy Overview 18.1.4.5.1. Marketing Strategy 18.1.5. Telefonaktiebolaget LM Ericsson 18.1.5.1. Overview 18.1.5.2. Product Portfolio 18.1.5.3. Profitability by Market Segments 18.1.5.4. Sales Footprint 18.1.5.5. Strategy Overview 18.1.5.5.1. Marketing Strategy 18.1.6. Netcracker Technology Corp 18.1.6.1. Overview 18.1.6.2. Product Portfolio 18.1.6.3. Profitability by Market Segments 18.1.6.4. Sales Footprint 18.1.6.5. Strategy Overview 18.1.6.5.1. Marketing Strategy 18.1.7. Optiva Inc. 18.1.7.1. Overview 18.1.7.2. Product Portfolio 18.1.7.3. Profitability by Market Segments 18.1.7.4. Sales Footprint 18.1.7.5. Strategy Overview 18.1.7.5.1. Marketing Strategy 18.1.8. Oracle Corp 18.1.8.1. Overview 18.1.8.2. Product Portfolio 18.1.8.3. Profitability by Market Segments 18.1.8.4. Sales Footprint 18.1.8.5. Strategy Overview 18.1.8.5.1. Marketing Strategy 18.1.9. SAP SE 18.1.9.1. Overview 18.1.9.2. Product Portfolio 18.1.9.3. Profitability by Market Segments 18.1.9.4. Sales Footprint 18.1.9.5. Strategy Overview 18.1.9.5.1. Marketing Strategy 18.1.10. Sage Group Plc 18.1.10.1. Overview 18.1.10.2. Product Portfolio 18.1.10.3. Profitability by Market Segments 18.1.10.4. Sales Footprint 18.1.10.5. Strategy Overview 18.1.10.5.1. Marketing Strategy 19. Assumptions & Acronyms Used 20. Research Methodology
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