Subscription & Billing Management Market Growing at a CAGR 14.0% | Key Player Zuora, Aria Systems, Gotransverse, Sage Intacct, BillingPlatform

May 18 12:55 2020
Subscription & Billing Management Market Growing at a CAGR 14.0% | Key Player Zuora, Aria Systems, Gotransverse, Sage Intacct, BillingPlatform

US include 2Checkout (US), Apttus (US), Aria Systems (US), BillingPlatform (US), Chargebee (US), Chargify (US), Gotransverse (US), Recurly (US), SaaSOptics (US), Salesforce (US), Vindicia (US), Zuora (US), Digital River (US), NetSuite (US), FastSpring (US), and Zoho (US)
Subscription & Billing Management Market by Component (Software and Services), Organization Size (SMEs and Large Enterprises), Deployment Type (Cloud and On-premises), Vertical (IT, Telecom, and Media & Entertainment), and Region – Global Forecast to 2025

MarketsandMarkets forecasts the global Subscription & Billing Management Market size to grow from USD 4.0 billion in 2020 to USD 7.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period. Major factors expected to drive the growth of the subscription & billing management market include rising adoption of subscription business models, increasing demand for reducing subscriber churn and improving customer retention, growing need for adhering to compliances, and increasing need for upgrading legacy system.

Based on organization size, the large enterprises segment to hold a higher market share during the forecast period

The large enterprises possess strong budget capabilities and are significantly investing in subscription & billing management software and associated services to manage their subscription base efficiently. They are more concerned about providing efficient and cost-effective services, rather than automating billing processes. The software helps large enterprises centrally manage most of their operations. It also assists them in managing customers’ critical data. The large enterprises with a large scale of business operations are geographically dispersed. The integration of subscription & billing management software helps large enterprises manage the increasing number of invoice queries and growing number of disputed or unpaid bills.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199100709

Based on verticals, the media and entertainment vertical to grow at the highest growth rate during the forecast period

The media and entertainment vertical is expected to grow at the highest rate, owing to the increase in the adoption of digital channels and rising consumption of media on a subscription basis. Businesses creating audio content will find new ways to monetize their offerings through smart speakers. For instance, Amazon has already introduced a subscription-based model on Alexa Skills. Similarly, Netflix, Spotify, and Wrapped are also leveraging subscription model to offer customized content curated as per end user needs and hence charge them accordingly. The subscription & billing management software in this industry eliminates the need to implement and manage in-house billing systems; this enables the industry to reduce the total cost of ownership, thereby increasing efficiency.

The major subscription & billing management vendors include 2Checkout (US), Apttus (US), Aria Systems (US), BillingPlatform (US), Chargebee (US), Chargify (US), cleverbridge (Germany), Gotransverse (US), Recurly (US), SaaSOptics (US), Sage Intacct (UK), Salesforce (US), SAP (Germany), Vindicia (US), Zuora (US), Digital River (US), NetSuite (US), FastSpring (US), JustOn (Germany), Zoho (US), and Fusebill (Canada). These players have adopted various strategies to grow in the subscription & billing management market. Partnerships and new product launches have been the most dominating strategies adopted by major players from 2018 to 2020, which helped them innovate their offerings and increase their customer base.

Aria Systems has adopted an organic growth strategy to maximize its foothold in the subscription & billing management market. In November 2019, the company announced the availability of its Aria Crescendo Monetization Platform on Microsoft Azure.  Through this enhancement, Aria Systems would offer customers multiple options for deploying their solutions on multiple cloud platforms, including Microsoft Azure. Similarly, in November 2019, Aria Systems extended its existing partnership with Constant Contact, an online marketing company in the US. According to the partnership, Constant Contact would continue to use Aria Systems’ Aria Crescendo Monetization Platform across the entirety of its business. This partnership would help Aria Systems maintain its existing customer base.

Speak to Our Expert Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=199100709

Zuora has also dominated the market with its organic growth strategies. In January 2020, Zuora partnered with Radiuz, a global Mobility-as-a-Service (MaaS) platform provider, to replace Radiuz’s home-grown billing system with Zuora Billing. The partnership aims at expanding Radiuz’s business in the B2C space with on-demand mobility access for individual consumers. This partnership would help Zuora expand its customer base. In November 2019, Zuora signed a technology partnership with Vertalo, a B2B SaaS company founded to map the gaps between primary and secondary trading of digital securities offerings. Following the partnership, Zuora offered Zuora Billing to Vertalo to launch the first digital operating system for the digital assets of Vertalo.

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/subscription-billing-management-market-199100709.html