New York, United States , Dec. 11, 2023 (GLOBE NEWSWIRE) -- The Global Revenue Management Market Size is to grow from USD 19.28 Billion in 2022 to USD 48.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.6% during the projected period.
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To capitalize on demand variations and client behavior, revenue management is commonly used in industries with fixed capacity and consumable goods or services, such as airlines, hotels, and rental companies. Businesses can use advanced data analysis, segmentation strategies, and dynamic pricing strategies to change their products and prices in real time to correspond with market conditions and client preferences. The global revenue management market is being driven by the demand for data-driven insights, cloud-based solutions, AI and machine learning technologies, and the need to remain competitive in the global market. An increase in demand for revenue and channel management, as well as the upgrading of the current inheritance system area unit, is projected to drive the market. Market growth, on the other hand, is constrained by the difficulty of keeping up with the evolving market and cross-platform apps. Additionally, increased distribution via e-travel platforms boosts industry growth. The costs for lifetime storage and getting in public cloud environments. Data is growing at an exponential rate across organizations as businesses move to cloud infrastructure to store their information.
COVID-19 Impact
COVID-19 has the potential to have three significant effects on the global economy: impacting production and demand, affecting supply chains and marketplaces, and having a financial impact on enterprises and financial markets. Furthermore, key players were looking to provide an easy-to-use revenue management system that improves real-time price optimization and automation and creates the ability to optimize inventory across the entire product portfolio holistically to support the modernization of revenue management capabilities.
Browse key industry insights spread across 200 pages with 120 market data tables and figures & charts from the report on "Global Revenue Management Market Size, Share, and COVID-19 Impact Analysis, By Component (Solution, Services), By Solution (Billing & Payment, Price Management, Revenue Assurance & Fraud Management, Channel Management, Others), By Deployment Mode (On-premises, Cloud), By Organization Size (Large Enterprises, Small & Medium Enterprises), By Vertical (Telecom, Hospitality, Transportation, Healthcare, Retail & eCommerce, BFSI, Utilities, Others) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The solution segment dominates the market with the largest revenue share over the forecast period.
Based on components, the global market for revenue management is divided into solutions and services. Among these, the solution segment is dominating the market with the largest revenue share over the forecast period. Revenue management solutions are software and technology solutions that assist businesses in optimizing their pricing, inventory, and marketing strategies. To provide valuable revenue optimization insights, these solutions are frequently data-driven and depend on advanced analytics, artificial intelligence, and machine learning. Moreover, the solution phase is unintegrated into billing and payment, worth management, revenue assurance and fraud management, channel management, risk management, and other regions.
The billing and payment segment is witnessing significant CAGR growth over the forecast period.
Based on the solution, the global revenue management market is segmented into billing and payment, price management, revenue assurance and fraud management, and channel management. Among these, the billing and payment segment is witnessing significant CAGR growth over the forecast period. The billing and payment solution includes intelligent configuration, pricing and quoting solutions, deal management, tender management, order administration, and financial accounting. The billing and payment system enables organizations to manage various lines of business on a single platform by collecting data from multiple billing tools and generating a single invoice.
The cloud segment is expected to hold substantial revenue growth in the global revenue management market during the forecast period.
Based on the deployment, the global revenue management market is classified into on-premises and cloud. Among these, the cloud segment is expected to hold substantial revenue growth during the forecast period. Businesses may improve their analytics and make better decisions by using cloud-based revenue management software. Since the software is remotely hosted, users can use its capabilities from any location and at any time. This enables managers to collaborate with employees and customers more effectively in real time. Cloud software enables automated insights, predictive analytics, real-time decision-making, and a more positive client experience.
The large enterprises segment is projected to grow at the highest CAGR in the market during the forecast period.
Based on enterprise size, the global revenue management market is segmented into large enterprises and small & medium enterprises. Among these, the large enterprises segment grows at the highest CAGR growth over the forecast period. Large businesses have a greater requirement for advanced revenue management systems due to their extensive operations, numerous client groups, and complex supply networks. These businesses typically deal with higher volumes of data, necessitating the adoption of robust revenue management software to effectively process and analyze data.
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North America dominates the market with the largest market share over the forecast period.
Over the forecast period, North America will hold the biggest market share. North America plays an important role in technical development, leading to the adoption of revenue management systems in a wide range of industries. North America has the greatest market share in revenue management. This is attributable to the presence of countries with stable economies, such as the United States and Canada. Companies in these countries are using cloud-based revenue management solutions, thus driving the North American market. During the projected period, the Asia-Pacific market is expected to grow the fastest. This is due to an increasing demand for digital solutions to manage and optimize revenue sources. In the region, there are many small and medium-sized businesses, and they are increasingly turning to technological solutions to improve their financial performance. The revenue management software market is rapidly increasing in the European Region. This is due to the increasing need for software solutions that assist businesses in optimizing their pricing and revenue strategies.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Revenue Management Market include Huawei, Amdocs, Oracle, Netcracker, CSG, Ericsson, Cerillion, Mahindra Comviva, Optiva, SAP, Accenture, Enghousenetworks, Accelya, HQ Revenue, IDeaS, and among others.
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Recent Market Developments
In November 2022, Cerillion's multi-tenanted BSS platform became live for LINK Mobility in numerous European nations. Cerillion will assist LINK in standardizing its billing operations throughout Europe.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the global revenue management market based on the below-mentioned segments:
Revenue Management Market, Components Analysis
- Solution
- Services
Revenue Management Market, Solution Analysis
- Billing and Payment
- Price Management
- Revenue Assurance & Fraud Management
- Channel Management
- Others
Revenue Management Market, Deployment Mode
- On-premises
- Cloud
Revenue Management Market, Organization Size Analysis
- Large Enterprises
- Small & Medium Enterprises
Revenue Management Market, Vertical Analysis
- Telecom
- Hospitality
- Transportation
- Healthcare
- Retail & eCommerce
- BFSI
- Utilities
- Others
Revenue Management Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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