The revenue management system market is projected to grow from US$ 17,717.02 million in 2022 to US$ 37,106.75 million by 2028; it is estimated to grow at a CAGR of 13.1% from 2022 to 2028.
A revenue management system includes solutions and services that allow businesses to boost their sales with automated, efficient customer payments and reduce revenue leakages. With the help of automation and analytics, the revenue management software aims to maximize revenue and profitability. Solutions and services offered by a revenue management system integrate with both accounting software and ERP systems. This system integrates and analyses historical data and market data for accurate forecasting, better operational efficiencies, etc. It also predicts consumer behavior, optimizes product availability, and fastens billing and payment methods by reducing risks and fraud. In recent years, there has been a growing demand for optimizing revenue platforms and channel management. Business operations are becoming increasingly dependent on the cloud and advanced automation systems. Thus, rising upgrades in existing legacy revenue & channel management systems and growing need for competitive pricing strategies are driving the revenue management system market growth.
The revenue management system market in North America is segmented into Canada, the US, and Mexico. The US accounted for the largest share of the North America revenue management system market. The high internet penetration across the region is the main factor catalyzing the adoption of digital solutions across industries such as IT & telecom, media & entertainment, healthcare, retail & e-commerce, and insurance. Several insurance companies across the country introduce the companies to a competitive premium structure for their customers. This is influencing the adoption of revenue management solutions among insurance companies for customer analysis and premium calculation based on competition across the country. Additionally, the US records a huge number of tourists annually for business and leisure. This has significantly impacted the growth of the hospitality sector across the country. Therefore, several premium hotels and restaurants are adopting various strategies to attract more customers. This is further contributing to the growing demand for revenue management systems across the hospitality industry of the country.
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Revenue Management System Market: Strategic Insights
Market Size Value in US$ 17.72 Billion in 2022 Market Size Value by US$ 37.11 Billion by 2028 Growth rate CAGR of 13.1% from 2022 to 2028 Forecast Period 2023-2028 Historic Period 2020-2021
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Revenue Management System Market: Strategic Insights
| Market Size Value in | US$ 17.72 Billion in 2022 |
| Market Size Value by | US$ 37.11 Billion by 2028 |
| Growth rate | CAGR of 13.1% from 2022 to 2028 |
| Forecast Period | 2023-2028 |
| Historic Period | 2020-2021 |
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Impact of COVID-19 Pandemic on Europe Revenue Management System Market Growth
The COVID-19 pandemic caused huge disruptions in the growth of various industries across Spain, Italy, Germany, the UK, and France. Businesses in Europe experienced severe economic difficulties as they either had to suspend their operations or substantially reduce activities. Further, the decrease in business activities, such as partnerships that resulted in the adoption of billing and revenue management solutions in various countries, hampered the revenue management system market growth. Moreover, to support the modernization of the revenue management capabilities, key players were looking to provide an easy-to-use revenue management system that enhances real-time price optimization and automation and creates an ability to optimize inventory across the entire product portfolio holistically. In addition, the demand for revenue management systems in the hotel industry is expected to grow as hotels continue to plan on increasing revenue due to the impacts of the pandemic on the industry. Thus, the overall impact of the COVID-19 pandemic on the Europe revenue management system market is anticipated to be low to moderate.
Market Insights – Revenue Management System Market
Rising Use of Subscription-Based Billing & Revenue Management Platforms to Drive Revenue Management System Market Growth in Coming Years
Revenue management systems offer flexibility by allowing users to log in on any device and providing access to updated information. Revenue management systems enable businesses to host their data on the cloud. Companies must prioritize mobile optimization to avoid competitive disadvantage. Therefore, optimizing a website for mobile view ensures that the pages load quickly and display data on different mobile devices. Moreover, subscription-based billing and revenue management models allow customers to pay for products or services based on their usage (pay-as-you-go). Furthermore, the standardization and automation of subscription-based billing and revenue management processes are consistent and secure and help in the management of high-quality data in terms of product, customer, entitlements, and partner—supported by an integrated application architecture.
Vertical-Based Revenue Management System Market Insights
Based on vertical, the revenue management system market is bifurcated into IT and telecom, hospitality, travel and tourism, retail and e-commerce, banking, healthcare, insurance, media and entertainment and others. The global hospitality industry includes restaurants, hotels, casinos, and amusement parks. The industry has experienced rapid growth over the years owing to the increasing standard of living of the urban population across both developed and developing countries. The rising investment by both private and public organizations to develop restaurants, hotels, and amusement parks with several facilities and additional services is driving the demand for revenue management solutions from the sector. Hotel owners are utilizing revenue management systems for price analysis, which further helps them in pricing strategies based on competition prices. For instance, happyhotel and Atomize are offering revenue management systems specially designed for hoteliers. These solutions help hotels to analyze prices and customer behavior, thereby enabling them to design customer offers accordingly. All these factors are driving the segment growth in the revenue management system market.
Players operating in the revenue management system market mainly adopt inorganic growth strategies to stay competitive in the revenue management system market ecosystem.
Revenue Management System Market Report Scope
- In November 2022, Cerillion’s multi-tenanted BSS platform was made live for LINK Mobility across several countries of Europe. Cerillion will help LINK standardize its billing operations in Europe.
- In February 2021, CSG Systems International, Inc. extended its partnership with Saudi Arabian telecom operator Etihad Etisalat (Mobily). CSG Systems International, Inc. will continue to offer its billing and revenue management solution to Etihad Etisalat (Mobily).
Company Profiled:
- Accelya Solutions India Ltd
- Amdocs Ltd
- Cerillion Plc
- CSG Systems International Inc
- Telefonaktiebolaget LM Ericsson
- Netcracker Technology Corp
- Optiva Inc
- Oracle Corp
- SAP SE
- Sage Group Plc
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
This text is related
to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
This text is related
to country scope.
Frequently Asked Questions
Accelya Solutions India Ltd, Amdocs Ltd, Cerillion Plc, CSG Systems International Inc, Telefonaktiebolaget LM Ericsson, Netcracker Technology Corp, Optiva Inc, Oracle Corp, SAP SE, and Sage Group Plc are the leading companies in the revenue management system market.
Integration of AI and ML technologies in billing and revenue management systems is one of the major trends in the revenue management system market.
North America dominated the revenue management system market in 2021. In the past decade, academics and corporate in North America have seen tremendous growth, owing to factors such as growing need for competitive pricing strategies, and rising use of subscription-based billing & revenue management platforms across the region.
Increase in demand for revenue & channel management and upgrading the existing legacy system augments the growth of the revenue management system market.
Increase in the number of cross-department collaboration is creating growth opportunity for the market players operating into the market.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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