The revenue management market size is projected to grow from USD 14.1 billion in 2019 to USD 22.4 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 9.6% during the forecast period. The major factors driving the growth of the revenue management market include the rising need for competitive pricing strategies, penetration of mobile devices worldwide, high growth in subscriber base in various regions, and digital transformation to compel Communication service Providers( CSPs) for integrating revenue management throughout modern systems.
Key market players profiled in this report are Huawei (China), Amdocs (US) Oracle (US), Netcracker (Japan), CSG (US), Ericsson (Sweden), Cerillion (UK), Mahindra Comviva (India), Optiva (Ireland), SAP (Germany), Accenture (Ireland), Enghousenetworks (Canada), Accelya (India), HQ Revenue (Germany), IDeaS (US), ZuoraREVPRO (2007), R1RCM (US), Workday (US), Fiserv (US), Apttus (US), and Infor (US). These players have adopted various growth strategies, such as partnerships and new service launches, to expand their presence further in the revenue management market and broaden their customer base.
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Amdocs is an important vendor of revenue management solutions. The company offers Kenan for service providers, which is an open and efficient solution. It is also tightly coupled with customer care, ordering, and billing to reduce deployment time and risk. Amdocs Kenan focuses on quick, reliable, and secure monetization of services, including comprehensive revenue and customer management. It also provides support for any combination of voice, video, messaging, content, or Internet Protocol (IP) for Business-to-Business (B2B) customers and traditional Business-to-Consumer (B2C) services. Kenan offers various features, such as advanced rating, accurate Configure Price Quote (CPQ), cloud readiness, invoice aggregation, robust billing and invoicing, rating flexibility, complete financial management, automated business process, eligibility controls, and equipment and inventory management. The company has 25,000 employees and a significant presence in the Americas, EMEA, and APAC.
Netcracker offers a revenue management platform, which helps telecom operators and service providers to transform their existing complex and siloed BSS into highly efficient ecosystems. The platform is compatible with advanced technologies and enables new revenue streams by enabling service providers to monetize Long Term Evolution (LTE/VoLTE), cloud-based, and virtualization services. It offers various revenue management products, such as a cloud-based online charging system, collection management, active mediation, converged charging and rating, customer billing management, partner billing management, voucher management, and bill presentment. NEC consolidated all of its telecom software and services assets under Netcracker. These consist of innovative applications and service platforms, including customer, service, and network management, along with NEC’s comprehensive suite of professional services.
Related Reports:Revenue Management Market by Solution (Billing and Payment, Price Management, Revenue Assurance and Fraud Management, and Channel Management), Service, Deployment Mode (On-premises and Cloud), Vertical, and Region – Global Forecast to 2024
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