Overview and Scope
The subscription & billing management refers to providing subscription and billing management software and services to individual companies used to manage the complete customer’s journey from price setup to signing up for a product or paid service. The subscription and billing administration aids in trial management, credit assignment, refunds, and mid-cycle subscription modifications for subscribers.
Sizing and Forecast
The subscription & billing management market size has grown rapidly in recent years. It will grow from $6.4 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth in the historic period can be attributed to shift to subscription-based models, emergence of saas and cloud services, consumer demand for flexibility, introduction of iot and connected devices, regulatory compliance and security concerns.
The subscription & billing management market size is expected to see rapid growth in the next few years. It will grow to $12.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The growth in the forecast period can be attributed to continuous innovation and product development, adoption of subscription models in new industries, scalability and flexibility requirements, expansion of partner ecosystems, focus on enhancing customer experience. Major trends in the forecast period include shift to subscription-based business models, rise in saas and cloud services, demand for personalization and customization, complexity in pricing and packaging, focus on customer experience.
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Segmentation & Regional Insights
The subscription & billing management market covered in this report is segmented –
1) By Payment: Fixed, Variable
2) By Component: Software, Services
3) By Deployment Type: Cloud, On-Premises
4) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
5) By Industry: Aerospace And Defense, Automotive And Transportation, Banking, Financial Services And Insurance, Building, Construction And Real Estate, Consumer Goods And Retail, Education, Energy And Utilities, Government And Public Sector, Healthcare And Life Sciences, Information Technology, Media And Entertainment, Telecommunication, Travel And Hospitality
North America was the largest region in the subscription & billing management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the subscription & billing management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing penetration of electronic media and devices is expected to drive the growth of the subscription & billing management market. Using electronic media and devices such as mobile devices and laptops by customers provides greater access to the use of products or services over the internet, which requires better management of subscription and billing of customers. Furthermore, Internet traffic has rocketed the numerous digital activities due to lockdowns and restrictions provoked by the COVID-19 pandemic. According to Gartner, a US-based consulting firm, in 2021, 125 million additional laptops and tablets are anticipated to be in use. Therefore, the increasing penetration of electronic media and devices will drive subscription and billing management.
Key Industry Players
Major companies operating in the subscription & billing management market report are Zuora Inc., Aria Systems, Gotransverse, BillingPlatform, cleverbridge AG, SAP SE, Apttus Corporation, Oracle Corporation, NetSuite, Inc., LogiSense Corporation, BLUSYNERGY BUSINESS SERVICES LLP, Cerillion Technologies Limited, Recurly Inc., Computer Sciences Corporation, Transverse LLC, Chargebee Inc., Chargify LLC, SaaSOptics LLC, Chargezoom Inc., PaySimple Inc., Zoho Corporation Pvt. Ltd., AppFrontier LLC, Chargefox Pty Ltd, Billsby, ChargeKeep Inc., Rebilly, Vindicia, Spreedly, Cheddar, Paddle, Subscription DNA, PayClix
The subscription & billing management market report table of contents includes:
1. Executive Summary
2. Subscription & Billing Management Market Characteristics
3. Subscription & Billing Management Market Trends And Strategies
4. Subscription & Billing Management Market – Macro Economic Scenario
5. Global Subscription & Billing Management Market Size and Growth
…..
31. Global Subscription & Billing Management Market Competitive Benchmarking
32. Global Subscription & Billing Management Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Subscription & Billing Management Market
34. Subscription & Billing Management Market Future Outlook and Potential Analysis
35. Appendix
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