Aria Systems (US) and Zuora (US) are leading players in Subscription & Billing Management Market
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.
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.
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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.
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.
Related Reports:
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
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