The revenue assurance market (henceforth, referred to as the market studied) is expected to register a CAGR of 10% over the forecast period. The major factors driving the growth of the revenue assurance market include the rise of the subscription economy, rising number of mobile and internet users, adoption of advanced technologies, such as RPA, Big Data, AI, and IoT. Also, the rising awareness about the severe consequences of revenue leakages on an organization’s overall profitability is driving the revenue assurance market, globally.
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– As large scale telecom service providers have significant CAPEX and IT infrastructure investment capabilities, there is an extensive adoption of revenue assurance solutions. These solutions are expected to increase the market share for the on-premises deployment mode of the revenue assurance market.
– With the growing demand for revenue assurance solutions like planning and consulting, implementation and customization, support and maintenance, and managed services to enhance the revenue assurance portfolio of the services providers by offering customers with value creation, operational flexibility, and competitive advantage is driving the growth of the market. As a result, the services portfolio is expected to grow due to the market’s dependency on human-interaction for development and growth.
Key Market Trends
Cloud Deployment is Expected to Drive the Market Growth
– The cloud-based segment is forecast to register significant growth during the forecast period due to the flexibility and scalability offered by these solutions. The cloud-based delivery model makes the software extremely flexible regarding scalability (pay-as-you-go storage utilization).
– The demand for simplified and consolidated storage resources to reduce cost and enhance workflow by eliminating departmental silos of clinical information is causing the rise in the cloud deployment. Moreover, the storage and server power for the organization is hosted off-premise. The cloud vendor provides all the off-premise system support resources which serve as a driver for cloud deployment.
– On-premise revenue assurance solutions are extensively used. However, cloud-based software adoption is expected to have a higher growth rate due to its cost-effectiveness, low software maintenance, accessibility, less spending on infrastructure, and a wide range of applications.
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