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New Product Launches Being the Key Strategies as Expansions, Acquisitions, Agreement in Revenue Management Market
The increasing adoption of cloud-based platforms for the deployment of revenue management systems in organizations and the growing need among companies to understand consumer behavior are the major factors boosting the growth of the global revenue management market. A growing subscription base and increasing demand for system integration services are the other major factors adding to the growth of this market. However, factors such as inability of the companies to cope up with evolving markets and lack of technological awareness can be seen hindering the growth of the market, but is expected to be impactful for only a short period of time.
Technological companies such as Accenture PLC, Amdocs, Inc., Ericsson, Netcracker Technology Corporation, and Oracle Corporation have created leading revenue management solutions and services to cater to the needs and demands of the market. These players adopted various growth strategies, such as expansions, acquisitions, agreements, and joint ventures, with partnerships and new product launches being the key strategies. Partnerships and agreements have been a major strategical trend, accounting for almost two-third of the market share of all the growth strategies adopted by the major market players.
Ericsson and Netcracker Technology Corporation are the two key players that adopted these strategies to grow in the market. Ericsson adopted a strategic mix of organic and inorganic growth strategies, such as new product launches, acquisitions, and partnerships to expand its presence to new regions. Some of Ericsson’s new developments include the acquisition of Sentilla Corp., an IT infrastructure and intelligence software provider in the U.S. Ericsson also launched a new revenue managing solution, Ericsson Revenue Manager 16, which is a real-time charging and billing product for digital service providers, aimed at capturing new revenue streams with real-time revenue sharing and at driving customer experience.
Netcracker Technology Corporation is also one of the leading players whose main strategic move has been based on strengthening its market position and product portfolio in the rapidly growing areas of the market. Netcracker’s recent partnership with Slovak Telekom to deploy its revenue management solution in the latter’s applications and infrastructure will help in reducing the operating expenses and enhancing business agility of Slovak Telecom. The company also signed a strategic agreement with VIVO to expand VIVO’s billing managed services relationship in Brazil region by including both consumer and enterprise billing in Netcracker’s service offerings to VIVO.
The key players are engaging in collaborations and partnerships to provide innovative offerings and increase profitability. Some of the companies that have engaged in partnerships and collaborations in the revenue management market are Amdocs, Inc., Ericsson, Netcracker Technology Corporation, CSG Systems International, and Oracle Corporation.
Revenue Management Market by Solutions (Risk Management, Pricing and Revenue Forecast Management, Revenue Analytics, Revenue Leakage Detection, Channel Revenue Management) by Services (Professional, Managed) by Deployment Mode - Global Forecast to 2020
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