Penetration of mobile devices worldwide and rise in demand for system integration to drive the growth of global revenue management market
According to TechSci Research report, “Global Revenue Management Market By Component, By Structure, By Deployment Mode, By Organization Size, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025”, global revenue management market is expected to witness formidable growth during the forecast period. Growing requirement for competitive pricing strategies and upgrading the existing legacy system are key factors accounting for the growth of global revenue management market. Moreover, penetration of smart devices worldwide is further expected to bode well for the growth of global revenue management through the forecast years. In addition to this, continuous digital transformations in need to induce communication service providers (CSPs) to integrate revenue management is positively influencing the growth of global revenue management market across the globe. Also, increase in customer awareness coupled with surge in distribution of ancillaries through e-travel platforms are some other factors making headway for the growth of global revenue management market. Furthermore, incapability to manage with the evolving market might hamper the growth of global revenue management market in the years to come.
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Global revenue management market can be segmented based on component, structure, deployment mode, organization size, end user industry, company and region. Considering the component, the market is fragmented into solutions and services. The service segment is further categorized into professional services and managed services. The managed services segment is anticipated to record high growth during the forecast period. This reason is that, focusing on core business has become difficult for the companies. Therefore, these managed services offer technical skills, that are needed to maintain and update all the software in the revenue management ecosystem, which is further anticipated to boost the growth of segment over the coming years. Based on end user industry, the market is fragmented into BFSI, hospitality, healthcare, IT & telecommunications, energy & utilities, retail & e-commerce, and others. Out of which, IT & telecommunications end use sector is expected to hold the largest market size over the coming years, which can be attributed to the use revenue management in the telecommunications industry in pricing management, rating and charging, billing, invoicing, credit limit management, general ledger integration for telecom service providers, among others.
Amdocs Inc., Oracle Corporation, Netcracker Technology Corp, CSG Systems International Inc, Ericsson Inc, Cerillion Technologies Limited, Comviva Technologies Ltd, SAP SE, Accenture Inc, Enghouse Networks US Inc, Accelya Solutions India Ltd, HQ Revenue, Zuora RevPro, Workday, Inc., Fiserv, Inc., Apttus, Infor Inc, Radix International Inc., SAS Institute Inc., Lemax Inc. are among others are the leading players operating in global revenue management market. The players are adopting several growth strategies to enhance the market scenario of revenue management. Other competitive strategies include increasing focus of major market players towards merges and acquisitions to broaden their customer base and to strengthen their market position.
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“North America is forecast to dominate the global revenue management market through 2025 on the account of rapid technological developments in the region. Moreover, IT companies in growing economies such as the US and Canada are adopting cloud-based revenue management solutions, which is further anticipated to contribute to the growing trend. Furthermore, increased demand from companies in service industries that are aiming to increase revenues and profitability in this competitive environment, is further expected to boost the regional growth of revenue management market until 2025.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Global Revenue Management Market By Global Revenue Management Market By Component, By Structure, By Deployment Mode, By Organization Size, By End User Industry, By Region, Competition, Forecast & Opportunities, 2025” has evaluated the future growth potential of global revenue management market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global revenue management market.
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