What is Subscription Management Software Market?
Subscription management software is widely used to numerous automate subscription processes namely subscription pricing, recurring billing, payments, among others. The main function of subscription management software is to collect both payment data and customer information for the managed subscription process. It not only managed entire customer life cycle but also handle customer subscription. There are various benefits of using subscription management software such as faster time to market, automated billing, real-time business insights, no revenue leak, faster revenue recognition, among others.
The market study is being classified, by Application (Recurring Payments & Accounting, Billing Automation, Business Analytics, Debtor Management and Customer Support and Experience) and major geographies with country level break-up.
Aria Systems, Inc. (United States), Billwerk GmbH (Germany), Chargebee, Inc. (United States), Chargify LLC (United States), Cleverbridge AG (Germany), Elastic Path Software, Inc. (Canada), Hybris GmbH (Germany), Recurly, Inc. (United States), SaaSOptics, LLC (United States) and Telefonaktiebolaget LM Ericsson (Sweden) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Zoho Corporation Pvt. Ltd. (India) and Zuora, Inc. (India).
The market is highly fragmented with the presence of various players operating in the market. Some of the major players which are operating in the market are Aria Systems, Inc. (United States), Billwerk GmbH (Germany), Chargebee, Inc. (United States), among others. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Subscription Management Software market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Subscription Management Software market by Type, Application and Region.
On the basis of geography, the market of Subscription Management Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Rise in Emphasis on Cost Reduction as well as Time Efficiency
- Increasing Demand among Enterprises for Improved Billing Processes
Market Trend
- Mounting Demand for an Integrated Billing Platform
Restraints
- Availability of Substitutes such as Customer Relationship Management Software
Opportunities
- Growth in e-commerce and Online Businesses across the World
- Mounting Need for Managing Customer Relationships
Challenges
- Lack of Technical Skills as well as Expertise
- Major Concerns over Cloud Security Holding Back Market Growth
Key Target Audience
Software Providers, Cloud Service Providers, Platform Providers, Channel Partners, Enterprises and Professional Service Providers