New York, USA, Sept. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Research Dive, the global revenue assurance market is projected to generate a revenue of $948.3 million and grow at 9.8% CAGR during the 2019-2026 analysis timeframe. The extensive report provides a concise outlook of the present market scenarios, including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast years. The report also offers detailed market figures, which makes it easier and more beneficial for new participants to understand the real-time scenario of the market.
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Factors Impacting the Revenue Assurance Market Size Pre and Post Covid-19 Pandemic
According to the report, the real-time market size has significantly increased compared to the pre-pandemic apprehensions. The real-time market size reached a revenue of $518.7 million in 2020, while its estimations were $499.7 million in the pre-pandemic scenario. Businesses’ growing focus on improving customer experience by monitoring revenue transactions and implementing effective business models to curb the rising revenue leakages due to fake transactions are some factors estimated to uplift the growth of the global revenue assurance market during the forecast period. Moreover, increasing number of mobile and online banking network services and the growing demand to refine businesses’ operational competence are some factors to further boost the market development by 2026.
Factors Impacting the CAGR Figures Pre and Post Covid-19 Pandemic
As per the report, the global revenue assurance market is anticipated to grow at 10.9% CAGR during the analysis timeframe, while it was anticipated to grow at 8.6% CAGR in the pre-pandemic scenario from 2020-2027. The growing demand for revenue assurance in the BFSI, telecommunication, and other industries along with the rising revenue attacks like SMS scams, international revenue shared fraud (IRSF), social engineering fraud, etc. especially during the work from home period are some factors to bolster the market growth by 2026. In addition, government’s increasing initiatives to help enterprises withstand strongly during the covid-19 period is yet another driving factor for the revenue assurance market growth during the forecast timeframe.
Post Pandemic Insights
As per the report, the global revenue assurance market is expected to prosper immensely in the upcoming years mainly due to businesses’ increasing requirement of strong revenue validation systems and the implementation of modern technologies like artificial intelligence (AI), data mining, deep learning, machine learning, and cloud computing in these systems to detect genuine transactions. Additionally, increasing strategic alliances like partnerships and product launches by key market players is yet another propelling factor for the market growth by 2026.
Check out the latest update on Revenue Assurance Market (Pre-Post COVID-19 Impact)
Key Revenue Assurance Market Players
Some key revenue assurance market players include
- Sagacity Solutions
- Nokia
- Itron Inc.
- PROFIT INSIGHT
- Sigos GmbH
- SUBEX
- Tata Consultancy Services Limited
- SANDVINE
- Adapt IT Holdings Limited
- Cartesian, Inc, and many more.
These market players are concentrating on developing strategies such as new product launches, research and development, following trending market ideas, building product portfolio, mergers & acquisitions, collaborations, and business expansions.
For instance, in February 2020, AMDOCS, a leading supplier of software and services to media and communication industries, announced the revenue assurance service implementation at Safaricom, a renowned network operator in Kenya, to regenerate a new revenue model by detecting and recovering revenue leaks. – Broader Insights Pertaining of Revenue Assurance Market on Specific Regions or segments & Avail of Amazing Discount
The report also sums up many crucial aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments.
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