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Revenue Assurance Market Report

RA00265

Revenue Assurance Market, by Services (Planning & Consulting, Operation & Maintenance, System Integration, Managed Service), Application (Banking, Insurance, Others) Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026

RA00265

Pages: NA

May 2020

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Revenue Assurance Market Analysis:

Revenue assurance is the practice of preventing any revenue leakages which occurs by error, negligence, or by intention in an organization using revenue assurance systems. Revenue leakages have the potential to seriously affect the overall profitability of a business and this has created an urgent need to keep a regular check on all the monetary activities. Revenue assurance systems are capable of examining all the transactions which are carried throughout the organization either it is between customer and organization or cross departments or regular miscellaneous transactions. 

The Rise in economic activities and business complexity and development of cloud-based revenue assurance systems are the key factors in the growth of revenue assurance market

The extensive rise in business activities worldwide, business expansions and regular growing customer base, organizations dealing in products and services find it tough to keep a track of monetary activities everywhere. This is where revenue assurance systems help in maintaining one single platform where all such activities could be tracked. Further revenue assurance systems help in rectifying current and potential revenue leakages. Though the Revenue assurance systems are mostly used to detect revenue leakages and ensure prevention, they are also capable of detecting frauds by regular monitoring of transactions. These factors may lead to drive the demand for revenue assurance systems in the forecast period. In addition, technological developments and a rise in the consumption of products and services by consumers have led to the growth of business houses exponentially in the global marketplace. This opportunity has further created another issue for businesses to monitor their transactional activities, which will eventually increase the need for a revenue assurance system, during the projected period. Furthermore, with the development of cloud-based revenue assurance systems more small and medium-sized businesses are opting for it. The cloud systems work on a subscription basis and are usually available at low prices and provide a complete solution.

High investments, lack of IT support and improper technological infrastructure are the major restraints negatively affecting the revenue assurance market

The lack of proper IT support in a small and medium-sized enterprise (SMEs) along with the high cost of revenue assurance systems are expected to restrain the growth of the global revenue assurance market, in the projected period. 

Incorporation of advanced technologies to create lucrative market opportunities

Technological innovations such as Artificial Intelligence (AI), Internet of Things (IoT), robotic process automation, and big data technologies have changed the way businesses operate. In recent days, businesses are able to operate globally due to these technologies, and also the customer base has increased significantly. Further incorporation of these technologies to enhance revenue assurance systems has been beneficial to businesses as they are more capable of monitoring with accuracy keeping a check at every level of the transaction. For instance, the generation of transactional data has significantly increased and big data technologies in revenue assurance systems are capable of maintaining and monitoring them. These elements are projected to create massive opportunities for the global revenue assurance market in the upcoming years. 

Revenue Assurance Market, by Services:

Managed service segment will be the most lucrative till 2026

Managed services segment is expected to have the largest market share during the forecast timeframe. Businesses nowadays have increased their operations and usually operate in multiple regions. Due to increased workload, businesses are opting to incorporate managed services systems in their daily working to reduce operational costs and increase profit margin. Further availability of cloud-based solutions have made work easier and majorly cost-effective.     `Owing to all these benefits businesses are able to focus on the main operations and daily work, which ensures less wastage of time, funds, and energy. 

Revenue Assurance Market, by Application:

Banking, Financial Services and Insurance (BFSI) sector will register a significant growth

BFSI sector is anticipated to grow at an exponential rate during the forecast period. BFSI sector encounters most of the monetary transactions as compared to any other sector and also some of them are of huge amounts. Error or fraud in any kind of transaction can seriously tarnish the image of any BFSI firm or institution and also can cause legal trouble. To ensure that no such issues occur BFSI sector is majorly investing in revenue assurance market so that all the activities can be monitored.

Revenue Assurance Market, by Region:

Asia Pacific region will experience major growth during the forecast period 

Asia Pacific region is expected to register maximum investments in the revenue assurance market during the forecast period. Better technological infrastructure and increased internet penetration are the key factors for revenue assurance market growth in the region. Due to rapid digitalization in countries such as China, Japan, and India, there has been significant growth in the data generation, creating a need to protect it from external and internal threats related to revenue leakage. Furthermore, due to the availability of cloud-based Revenue assurance systems more Small and medium-sized businesses are investing in the market. The majority of the investments come from the telecom industry in the Asia Pacific region.

To explore more about Revenue Assurance Market, get in touch with our analysts here.

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Key participants in the global Revenue Assurance Market:

Merger & acquisition and advanced product development are the frequent strategies followed by the market players

Key participants in the global Revenue Assurance Market

Some of the significant global revenue assurance market players include SUBEX, Nokia, Cartesian, Inc,  Itron Inc., SANDVINE, PROFIT INSIGHT, Sagacity Solutions, Sigos GmbH, Tata Consultancy Services Limited, Adapt IT Holdings Limited and many others.

Revenue assurance market players are focusing mainly on strategic collaborations R&D and technology breakthroughs. These are the frequent strategies followed by multiple startups and established organizations. To emphasize more on the competitor analysis of market players, the porter’s five force model is explained in the report.

Aspect

Particulars

  Historical Market Estimations

  2018-2019

  Base Year for Market Estimation

  2018

  Forecast timeline for Market Projection

  2019-2026

  Geographical Scope

  North America, Europe, Asia-Pacific, LAMEA

  Segmentation by Services

  • Planning & Consulting
  • Operation & Maintenance
  • System Integration
  • Managed Service

  Segmentation by Application

  • Banking
  • Insurance
  • Others

  Key Countries Covered

U.S., Canada, Germany, France, Spain,

Russia, Japan, China, India, South Korea, Australia, Brazil, and Saudi Arabia

  Key Companies Profiled

  • SUBEX
  • Nokia
  • Cartesian, Inc
  • Itron Inc.
  • SANDVINE
  • PROFIT INSIGHT
  • Sagacity Solutions
  • Sigos GmbH
  • Tata Consultancy Services Limited
  • Adapt IT Holdings Limited.

Source: Research Dive Analysis


Frequently Asked Questions
 

A. Adapt IT Holdings Limited, Itron Inc., Sigos GmbH are the leading companies in the revenue assurance market.

A. The Asia-Pacific region possesses great investment opportunities for investors to witness the most promising growth in the future.

A. Technological advancements, product development, along with joint ventures are the key strategies opted by the operating companies in this market.

A. SANDVINE and Itron Inc. are investing more in R&D practices.

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