“Growing demand among enterprises for integrated subscription and billing platform is driving the market for subscription and billing management solutions”
MarketsandMarkets forecasts the subscription and billing management market to grow from USD 2.90 billion in 2016 to USD 6.01 billion by 2021, at a CAGR of 15.7%. The subscription and billing management solutions such as subscription order management, billing mediation, pricing and quote management, financial customer care, and dispute management enable organizations to standardize order, billing, and payment processes. The subscription and billing management solutions offer several benefits such as reduced initial setup cost, multiple options for payment processing, automated invoicing, and accurate and efficient billing process. Rise in demand for an integrated billing platform is another major factor driving the subscription and billing market since it is secured, robust, and convenient.
“Managed services is expected to exhibit the highest growth rate in services segment”
The managed services segment is expected to exhibit the highest growth rate due to the increasing adoption of subscription and billing solutions across various industries; hence, there is a growing need to offer managed services for infrastructure management and application configuration of these solutions. Furthermore, the integration with the back-end systems facilitates the need to systemize the management of these solutions; thus, managed services are expected to grow at the highest CAGR.
“Subscription order management is expected to be the largest solution segment in terms of market size”
The subscription and billing solutions offer customized order, pricing and billing solutions as per requirement of customer. The subscription order management solution is estimated to contribute the largest market share during the forecast period. Additionally, financial customer care and dispute management solution is the fastest-growing segment.
“Asia-Pacific (APAC) is expected to become one of the major biggest regions for subscription and billing management solutions by 2021”
APAC is growing at the highest rate in comparison to other regions. Moreover, organizations operating in the region, mainly in countries like Australia, Japan, Singapore, and China, are prominently adopting advanced technologies and solutions to increase profits and enhance customer satisfaction.
Additionally, the adoption of emerging technologies and the economic growth of countries such as India and China are further driving the adoption of subscription and billing management solutions and services. North America is expected to be the largest revenue generating region, followed by Europe, whereas APAC and Latin America are expected to be emerging markets for subscription and billing solutions and services.
Breakdown of profile of primaries
• By Company Type: Tier 1 – 55%, Tier 2 – 20%, and Tier 3 – 25%
• By Designation: C-level – 60%, Director-level – 25%, and others – 15%
• By Region: North America – 10%, Europe – 20%, APAC - 40%, and ROW – 30%
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the market into solutions, services, deployment types, user types, verticals, and regions, thereby covering this market comprehensively. The report provides the closest approximations of the revenue numbers for the overall market and subsegments. The market numbers are further split across different verticals and regions.
- This report will help them better understand the competitors and gain more insights to better position one’s business. There is a separate section on competitive landscape, including end-user analysis, new product launches, acquisitions, and expansions. Besides this, there are company profiles of ten major players in this market. In this section, market internals are provided that can help one stay ahead in the competition.
3. The report helps them to understand the pulse of the market. The report provides information on key market drivers, restraints, challenges, and opportunities.