The global subscription and billing management market is expected to exhibit a CAGR of 14.30% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Subscription and billing management is a business framework that uses tech-driven automation and shared data for payment collection of subscriptions. It assists customers in managing trials, assigning credits, issuing refunds, and making mid-cycle subscription changes. It enhances customer experiences by creating the best plans and promotions. It provides personalized experiences by engaging with subscribers through various channels and delivering products and services efficiently. In addition, it aids in tracking customer acquisition cost (CAC) while precisely managing the inventory. As a result, subscription and billing management is widely used in banking, financial services, and insurance (BFSI), retail, information and technology (IT), healthcare, and telecommunication sectors across the globe.
Subscription and Billing Management Market Trends:
At present, there is a rise in the utilization of subscription and billing management systems to reduce subscriber churn and improve customer retention in various businesses. This, along with the growing demand for upgrading legacy systems to enhance data security, represents one of the key factors driving the market. Besides this, the increasing adoption of subscription and billing management systems for personalized services and customized promotions based on past activities and the purchase history of customers is offering a positive market outlook. Moreover, there is an increase in the employment of software-as-a-service (SaaS) subscription models to purchase online software services. This, coupled with the escalating demand for subscription and billing management systems among the masses to organize their payment schedules and finances efficiently, is positively influencing the market. In addition, the rising demand for subscription and billing management systems in large enterprises to reduce errors in monetization models is contributing to the growth of the market. Apart from this, the integration of machine learning (ML) technology in subscription and billing management systems is expected to bolster the growth of the market.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global subscription and billing management market report, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on component, deployment mode, organization size and end user.
Breakup by Component:
Breakup by Deployment Mode:
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by End User:
- Media and Entertainment
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being 2Checkout.com Inc. (VeriFone Holdings Inc.), Aria Systems Inc., BillingPlatform LLC, Bright Market LLC dba FastSpring, Cerillion, Chargebee, Fusebill, Oracle Corporation, SaaSOptics, Salesforce Inc., SAP SE, Zoho Corporation and Zuora.
|Base Year of the Analysis
| Historical Period
||Component, Deployment Mode, Organization Size, End User, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||2Checkout.com Inc. (VeriFone Holdings Inc.), Aria Systems Inc., BillingPlatform LLC, Bright Market LLC dba FastSpring, Cerillion, Chargebee, Fusebill, Oracle Corporation, SaaSOptics, Salesforce Inc., SAP SE, Zoho Corporation and Zuora.
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