New York, USA, Oct. 26, 2020 (GLOBE NEWSWIRE) -- According to a latest report published by Research Dive, the Revenue Assurance Market is expected to surpass the $948.3 million mark by 2026, from a significant market size of $422.5 million, with a healthy CAGR of 9.8%. The report constitutes of in-depth perceptions of the impact of COVID-19 pandemic on the current and future evolution of the industry worldwide. This is carried out by analyzing important features such as drivers, limitations, newest trends, advances, size and scope, and the status of regional markets of the market in the course of the pandemic. The report states that the COVID-19 pandemic has positively affected the market conditions.
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Factors Impacting the CAGR Figures in the Pre and Post Covid-19 Crises
The revenue assurance market was estimated to be at a substantial CAGR of 8.6% before coronavirus outbreak. The post Covid-19 scenario will garner a CAGR of 10.9% due to rise in the demand of real-time transactions by the consumers. This market growth is due to the increased usage of subscription-based economy method.
Factors Impacting the Market Size in Pre and Post Covid-19 World
The revenue assurance market harbored a revenue of $518.7 million in 2020, after the coronavirus outbreak. The market size was estimated to stand only at $499.7 million in 2020, as estimated before the pandemic struck the globe. Many organizations are opting for revenue assurance system for controlling social engineering frauds, SMS scams, and robocalls. This aspect is driving the market forward.
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Market Situation in the Post Covid-19 Scenario
There is positive impact on the market due to the coronavirus outbreak and will continue to enhance in the post Covid-19 period as well. Beyond this, the elevation in awareness about revenue assurance systems for detecting revenue leakages will take the market forward. Utilization of AI (Artificial Intelligence) in revenue assurance system in the upcoming years, new product launches, and novel technologies are the major reasons that’ll enhance the market growth.
Leading Companies in Revenue Assurance System Market
1. Cartesian, Inc.
2. Mobileum
3. SUBEX
4. Tech Mahindra Limited
5. Telefonaktiebolaget LM Ericsson
6. AMDOCS
7. Sagacity Solutions
8. IBM
9. Tata Consultancy Services Limited
10. Hewlett Packard Enterprise Development LP
11. Accenture
12. Adapt IT Holdings Limited.
These Key players are choosing strategies such as collaborations, launching novel products, and investing in R&D activities for market growth. For instance, in February 2020, AMDOCS incorporated revenue assurance service in Safaricom; this was an innovative solution for detecting revenue leaks.
The report mentions numerous factors of all the crucial market players that are active in the market. Some features such as financial performance, present strategic plans, product file, developments and SWOT scrutiny are also included in the report. Click Here to Get Absolute Top Companies Development Strategies Summary Report.