The latest report by IMARC Group, titled “Subscription and Billing Management Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the subscription and billing management market outlook. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global subscription and billing management market is expected to exhibit a growth rate (CAGR) of 13.8% during 2023-2028.
Subscription and Billing Management Market Overview:
Subscription and billing management refers to the processes and systems used to handle recurring payments and the management of customer subscriptions. It helps businesses scale their operations by streamlining billing processes and automating customer management tasks. It offers subscription-based products or services, such as software-as-a-service (SaaS) providers, subscription boxes, and media companies.
It provides businesses with analytics and reporting capabilities, such as subscription growth rates, revenue projections, and customer lifetime value. It finds application in banking, financial services, and insurance (BFSI), retail, information and technology (IT), healthcare, and telecommunication industries across the globe.
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Global Subscription and Billing Management Market Trends:
The increasing use of subscription and billing management solutions that offer secure payment processing and data management to protect businesses and their customers from fraud and data breaches represents one of the major factors supporting the market growth around the world.
Moreover, the rising utilization of subscription and billing management systems to reduce subscriber churn and improve customer retention in various businesses and the growing need for upgrading legacy systems to improve data security is influencing the market positively. Apart from this, the increasing adoption of subscription and billing management systems in small and medium enterprises (SMEs) to minimize errors in monetization models is creating a positive outlook for the market.
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Key Market Segmentation:
Top Key Players in the Subscription and Billing Management Industry:
- 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
- Zuora.
Breakup by Component:
- Software
- Services
Breakup by Deployment Mode:
- On-premises
- Cloud-based
Breakup by Organization Size:
- Small and Medium-sized Enterprises
- Large Enterprises
Breakup by End User:
- BFSI
- Retail
- IT
- Healthcare
- Media and Entertainment
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
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