Subscription & billing management market was valued at USD 4,645.5 million in the year 2022. The market is expected to reach USD 18,263 million by the end of 2033. The growth rate during the forecasting period is projected at 13.4%. Meanwhile, component segment is anticipated to dominate the market between 2023 and 2033.
| Attributes | Details |
|---|---|
| Global Subscription & Billing Management Market Size (2023) | USD 5283.6 million |
| Global Subscription & Billing Management Market Size (2033) | USD 18263 million |
| Global Subscription & Billing Management Market CAGR (2023 to 2033) | 13.4% |
| USA Subscription & Billing Management Market Size (2032) | USD 6.4 billion |
| USA Subscription & Billing Management Market CAGR (2022 to 2032) | 12.9% |
| Key Companies Covered | Zuora; Aria Systems; Gotransverse; Sage Intacct; BillingPlatform; SaaSOptics; 2Checkout; cleverbridge AG; Recurly, Inc.; Digital River, Inc. |
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As per the subscription & billing management market research by Future Market Insights - a market research and competitive intelligence provider, historically, from 2015 to 2021, the market value of the subscription & billing management market increased at around 14.6% CAGR.
Increasing preference of subscription business strategies, growing need for minimizing subscriber churn and enhancing customer retention, increasing requirement for compliance, and growing need for modernizing legacy systems are projected to fuel market expansion.
Subscription billing is a complex business strategy that uses a physical or digital way to allow subscribers to pay their fees. A large number of websites and organizations use these services to improve subscriber management.
Multiple subscription and billing management service providers offer an automated payment option, which may be accomplished by attaching the user's debit or credit card or banking information.
The rising demand for legacy system upgrades, the growing requirement for compliance, and the adoption of subscription business strategies by various companies are the primary reasons propelling the global subscription and billing management industry.
Also, the growing emphasis on lowering subscriber churn to enhance consumer retention, rising concerns about customer churn starting to cause problems for businesses since acquiring new customers is significantly more costly than retaining existing ones, and widespread adoption of subscription and billing management solutions to address such obstacles by various organizations contribute to the market's growth.
The preference for personalized services, such as new services and customized promotions based on customers' past activity as well as purchase history, among other things, influences the subscription and billing management market, as does the integration of business strategies to leverage user viewing behavior and provide customized recommendations based on the customer's preferences.
Furthermore, the rising acceptance of subscription business models, a significant requirement for modernizing legacy systems, and increasing investments in sophisticated marketing technology deployment, benefit the subscription and billing management industry.
Moreover, in the projected year, machine learning to improve subscription billing and flexibility of SaaS business strategy model give profitable prospects to subscription and billing management industry participants.
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During the projected period, North America is projected to hold the largest share in the global Subscription & Billing Management Market with a market size of around USD 7 Billion to be reached by 2032.
North America leads the subscription and billing management market owing to the existence of the world's leading telecommunication companies and subscription and billing management vendors, the surged acceptance of bring your own device (BYOD), cloud-based services, and the region's rising adoption of mobile devices.
The United States is expected to account for the largest market of USD 6.4 Billion by the end of 2032 with an expected CAGR of 12.9% by the end of 2032.
The presence of significant telecom service providers and subscription and billing management vendors in the United States is projected to contribute to the market growth during the evaluation period.
Furthermore, significant growth in the adoption of bring your own device and cloud-based solutions has led to a rise in the digitization of subscription techniques in a variety of sectors across the United States, consequently influencing regional market trends.
Apart from this, a large number of enterprises situated in the subcontinent invest more in the purchase of subscription and billing software, with a strong emphasis on deployment via smartphone and cloud. Such measures are expected to have a significant impact on the region's subscription & billing management industry revenue.
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The software segment is forecasted to grow at the highest CAGR of around 11.8% in the subscription & billing management market during 2022 to 2032.
To guarantee billing accuracy, it also maintains track of standard and special offers, bundles, and discounts. One of the primary factors driving the global subscription billing software industry is the growing need for better subscription management tools and billing software.
Subscription & billing management systems are frequently sought after in the media, utility, and entertainment industries, and the public sector. These sectors rely on service providers and organizations to deliver high-quality services and timely billing.
Market revenue through Cloud deployment of subscription and billing management is forecasted to grow at the highest CAGR of around 12.9% during 2022 to 2032. The uptake of cloud-based solutions is likely to have a significant influence on a wide range of industry disciplines.
The quick acceptance results in the transformation of company models that assist diverse areas in dealing with continuously changing market needs.
Companies that do not have their own cloud services are collaborating with the other cloud service providers to deliver cloud-based subscription and billing management tools to SMEs. Access to low technologies helps SMEs survive and compete in the service sector. This helps SMEs to boost client engagement and sales by delivering effective services and perks.
The increased emphasis on offering a better customer experience, as well as the rising need to streamline manual accounting and financial operations, is driving the use of subscription and billing management software. The low cost of Cloud-based software and its widespread use is driving industry development.
The sector for subscription & billing management market is highly competitive and fragmented. The market has been experiencing fierce competition due to the introduction of new start-ups offering a diversified variety of creative solutions catering to different industrial requirements.
Furthermore, since the main players have been associated with high performance, they are believed to have a strategic and competitive advantage.
Some of the recent developments in the market include:
Similarly, recent developments related to companies’ Subscription & Billing Management Market have been tracked by the team at Future Market Insights, which are available in the full report.
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD million for Value |
| Key Regions Covered | North America; Europe; Asia Pacific; Middle East & Africa; Latin America |
| Key Countries Covered | United States, UK, China, India, South Korea, Japan |
| Key Market Segments Covered | Component, Deployment Mode, Organization Size, Vertical, Region |
| Key Companies Profiled | Zuora; Aria Systems; Gotransverse; Sage Intacct; BillingPlatform; SaaSOptics; 2Checkout; cleverbridge AG; Recurly, Inc.; Digital River, Inc. |
| Pricing | Available upon Request |
The global subscription & billing management market is worth more than USD 5283.6 million at present.
The value of the subscription & billing management market is projected to increase at a CAGR of around 13.4% during 2023 to 2033.
The value of the Subscription & Billing Management Market increased at a CAGR of around 14.6% during 2018 to 2022.
One of the key trends in the market is the adoption and implementation of innovative subscription business strategies, which is hastening the emergence of the subscription economy.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Component 5.1. Software 5.2. Services 5.3. Professional Services 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Deployment Size 6.1. On-premises 6.2. Cloud 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Organization Size 7.1. Large Enterprises 7.2. SMEs 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Vertical 8.1. BFSI 8.2. Retail and eCommerce 8.3. IT 8.4. Telecom 8.5. Media and Entertainment 8.6. Public Sector and Utilities 8.7. Transportation and Logistics 8.8. Others 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. South Asia and Pacific 9.6. East Asia 9.7. Middle East and Africa 10. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. Zuora 19.2. Aria Systems 19.3. Gotransverse 19.4. Sage Intacct 19.5. BillingPlatform 19.6. SaaSOptics 19.7. BillingPlatform 19.8. 2Checkout 19.9. cleverbridge AG 19.10. Recurly, Inc. 19.11. Digital River, Inc. 20. Assumptions & Acronyms Used 21. Research Methodology
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Subscription and Billing Management Market
