Dublin, May 22, 2023 (GLOBE NEWSWIRE) -- The "Subscription And Billing Management Global Market Opportunities And Strategies To 2031" report has been added to ResearchAndMarkets.com's offering.
The subscription and billing management market reached a value of nearly $5,103.9 million in 2021, having grown at a compound annual growth rate (CAGR) of 13.3% since 2016. The market is expected to grow from $5,103.9 million in 2021 to $10,096.5 million in 2026 at a rate of 14.6%. The market is then expected to grow at a CAGR of 15.9% from 2026 and reach $21,103.1 million in 2031.
Growth in the historic period resulted from rise in penetration of smartphones and internet services, adoption of machine learning (ML) technology to further optimize subscription billing processes, emerging markets growth and rising adoption of subscription business models.
Going forward, increasing government initiatives, rising adoption of SaaS business models, need for paperless billing and invoicing and implementing cloud billing platforms will drive the growth. Factors that could hinder the growth of the subscription and billing management market in the future include growing competition among companies and the Russian-Ukrainian war.
The subscription and billing management market is segmented by component into software and services. The software market was the largest segment of the subscription and billing management market segmented by component, accounting for 70.7% of the total in 2021. Going forward, the services market is expected to be the fastest growing segment in the subscription and billing management market segmented by component, at a CAGR of 16.4% during 2021-2026.
The subscription and billing management market is also segmented by payment into fixed and variable. The fixed market was the largest segment of the subscription and billing management market segmented by payment, accounting for 75.5% of the total in 2021. Going forward, the fixed market is expected to be the fastest growing segment in the subscription and billing management market segmented by payment, at a CAGR of 14.9% during 2021-2026.
The subscription and billing management market is also segmented by organization size into small and medium enterprises (SMEs) and large enterprises. The large enterprises market was the largest segment of the subscription and billing management market segmented by organization size, accounting for 65.0% of the total in 2021. Going forward, the small and medium enterprises (SMEs) market is expected to be the fastest growing segment in the subscription and billing management market segmented by organization size, at a CAGR of 15.4% during 2021-2026.
The subscription and billing management market is also segmented by deployment type into cloud and on-premises. The cloud market was the largest segment of the subscription and billing management market segmented by deployment type, accounting for 67.3% of the total in 2021. Going forward, the cloud market is expected to be the fastest growing segment in the subscription and billing management market segmented by deployment type, at a CAGR of 15.4% during 2021-2026.
The subscription and billing management market is also segmented by industry into retail and e-commerce, banking, financial services and insurance, IT and telecom, healthcare, media and entertainment, media and entertainment, public sector and utilities, transport and logistics and other industries.
The banking, financial services and insurance market was the largest segment of the subscription and billing management market segmented by industry, accounting for 23.5% of the total in 2021. Going forward, the retail and e-commerce market is expected to be the fastest growing segment in the subscription and billing management market segmented by industry, at a CAGR of 16.2% during 2021-2026.
North America was the largest region in the subscription and billing management market, accounting for 34.5% of the total in 2021. It was followed by Asia Pacific, and then the other regions. Going forward, the fastest-growing regions in the subscription and billing management market will be Asia Pacific, and, North America where growth will be at CAGRs of 16.4% and 15.9% respectively. These will be followed by Western Europe, and, South America where the markets are expected to grow at CAGRs of 14.8% and 12.9% respectively.
The subscription and billing management market is moderately concentrated, with a few large players dominating the market. The top ten competitors in the market made up to 25.97% of the total market in 2021. SAP SE was the largest competitor with 8.36% share of the market, followed by Oracle Corporation with 5.91%, Salesforce.com, Inc with 5.19%, Zuora Inc. with 2.72%, Chargebee with 1.81%, Recurly, Inc. with 0.71%, Gotransverse with 0.61%, ZOHO with 0.30%, Cleverbridge with 0.20%, and Conga with 0.16%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 346 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $5103.9 Million |
| Forecasted Market Value (USD) by 2031 | $21103.1 Million |
| Compound Annual Growth Rate | 15.3% |
| Regions Covered | Global |
Opportunity Analysis
- The top opportunities in the subscription and billing management market segmented by component will arise in the software segment, which will gain $3,293.8 million of global annual sales by 2026.
- The top opportunities in segment by payment will arise in the fixed segment, which will gain $3,864.2 million of global annual sales by 2026.
- The top opportunities in segment by deployment type will arise in the cloud segment, which will gain $3,593.2 million of global annual sales by 2026.
- The top opportunities in segment by organization size will arise in the large enterprises segment, which will gain $3,125.4 million of global annual sales by 2026.
- The top opportunities in segment by industry will arise in the banking, financial services and insurance segment, which will gain $1,217.8 million of global annual sales by 2026.
- The subscription and billing management market size will gain the most in the USA at $1,698.5 million.
Major Market Trends
- Unified Monetization Solution
- Artificial Intelligence In Subscription And Billing Management
- Data Platforms in Subscription
- Technology Advancements
- Strategic Partnerships
A selection of companies mentioned in this report includes
- Chargebee
- Cleverbridge
- Conga
- Gotransverse
- Oracle Corporation
- Recurly Inc.
- Salesforce.com Inc
- SAP SE
- ZOHO
- Zuora Inc.
For more information about this report visit https://www.researchandmarkets.com/r/c50rdb
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