Dublin, Aug. 14, 2023 (GLOBE NEWSWIRE) -- The "Revenue Management System Market Forecast to 2028" report has been added to ResearchAndMarkets.com's offering.
The report projects substantial growth in the revenue management system market, reaching an estimated value of $37.1 billion by 2028, with a CAGR of 13.1% from 2022 to 2028.
The revenue management system market is witnessing significant expansion, driven by the increasing adoption of competitive pricing strategies and upgrades in existing legacy revenue and channel management systems. These systems provide businesses with better pricing strategies for long-term decisions based on competitors' data and growing trends. Moreover, the surge in mobile device penetration is boosting the demand for subscription-based billing and revenue management platforms, further propelling market growth.
The IT & telecom industry is experiencing significant growth globally, leading to an increased demand for revenue management systems. The industry's development of various digital solutions is driving the need for competitive pricing strategies. Similarly, telecommunication service providers are adopting price management solutions to stay competitive in the market. Additionally, the telecom industry seeks billing and payment solutions for automating the billing cycle of postpaid and prepaid clients, further contributing to the revenue management system market growth.
The travel & tourism industry is witnessing growth due to the rising standard of living globally. Travel & tourism companies are expanding their product and service offerings, increasing the demand for solutions like price management and revenue assurance. Additionally, the industry analyzes customer behavior to offer personalized offers for enhanced customer satisfaction. The adoption of online platforms for travel bookings is also driving the demand for revenue management systems, providing real-time data on availability and prices as per previous purchase behavior.
The revenue management system market is segmented based on component, deployment, industry verticals, and geography. The report covers components such as solutions and services, deployment options like on-premise and cloud-based, and industry verticals including banking, IT & telecom, hospitality, healthcare, retail & e-commerce, insurance, travel & tourism, media & entertainment, and others.
The report also features profiles of key players in the revenue management system market, including Accelya Solutions India Ltd, Amdocs Ltd, Cerillion Plc, CSG Systems International Inc, Telefonaktiebolaget LM Ericsson, Netcracker Technology Corp, Optiva Inc, Oracle Corp, SAP SE, and Sage Group Plc.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 234 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $17717.02 Million |
| Forecasted Market Value (USD) by 2028 | $37106.75 Million |
| Compound Annual Growth Rate | 13.1% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/oaj9k6
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
