Industry Background:
The significant factors boosting the growth of the Global Subscription & Billing Management market include the increasing need for upgrading legacy systems. Subscription billing is a complicated business model that involves a digital or physical method and allows the subscribed customers to pay their bills. Currently, a large number of websites and businesses are accessing these services for better management of subscribers. Multiple service providers from the subscription and billing management market are providing an automatic payment option, which could be done by linking the user’s credit or debit card or bank account.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Chargify (United States), cleverbridge (Germany), Gotransverse (United States), 2Checkout (United States), Apttus (United States), Aria Systems (United States), BillingPlatform (United States), Chargebee (United States), Recurly (United States) and SaaSOptics (United States) |
According to AMA, the market for Subscription & Billing Management is expected to register a CAGR of 14.5% during the forecast period to 2027. This growth is primarily driven by Rising Adoption of Subscription Business Models and Increasing Demand for Reducing Subscriber Churn and Improving Customer Retention.
Globally, a noticeable market trend is evident Growing Need for Adhering to Compliances
The Systems Software sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Chargify (United States), cleverbridge (Germany), Gotransverse (United States), 2Checkout (United States), Apttus (United States), Aria Systems (United States), BillingPlatform (United States), Chargebee (United States), Recurly (United States) and SaaSOptics (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
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.
In December, BillingPlatform enhanced its platform to optimize it and offer the most intuitive user experience to users.
Influencing Trend:
Growing Need for Adhering to Compliances and Increasing Need for Upgrading Legacy Systems
Market Growth Drivers:
Rising Adoption of Subscription Business Models and Increasing Demand for Reducing Subscriber Churn and Improving Customer Retention
Challenges:
Cloud Data Security and Privacy Concerns, In-House Subscription Billing Practice and Lack of Consistent Recurring Payment Infrastructure
Restraints:
Data Synchronization Complexities
Opportunities:
Scalability of Saas Business Model and ML to Optimize Subscription Billing
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Subscription & Billing Management Market
- Analysis about New Entrants in Subscription & Billing Management Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Subscription & Billing Management Study Sheds Light on
The Subscription & Billing Management Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Subscription & Billing Management industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Subscription & Billing Management industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.