Subscription & Billing Management Global Market Report 2024

Subscription and billing management involve providing software and services to individual companies for managing the complete customer journey, from pricing setup to the sign-up process for a product or paid service. This administration assists in various aspects of the subscription process, including trial management, credit assignment, refunds, and mid-cycle subscription modifications for subscribers.

The main payment types for subscription and billing management are fixed and variable. Fixed payment subscription and billing management offer software and services for a fixed subscription plan, involving a predetermined payment for a fixed period, typically around 12 months. The components of subscription and billing management include software and services that can be deployed either in the cloud or on-premises within an organization. Small, medium, and large-scale enterprises across diverse industries such as aerospace and defense, automotive and transportation, banking and financial services, building and construction, consumer goods and retail, education, energy and utilities, government and the public sector, healthcare and life sciences, information technology, media and entertainment, telecommunications, and travel and hospitality utilize subscription and billing management solutions.

The subscription & billing management market research report is one of a series of new reports that provides subscription & billing management market statistics, including subscription & billing management industry global market size, regional shares, competitors with a subscription & billing management market share, detailed subscription & billing management market segments, market trends and opportunities, and any further data you may need to thrive in the subscription & billing management industry. This subscription & billing management market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The subscription & billing management market size has grown rapidly in recent years. It will grow from $6.4 billion in 2023 to $7.22 billion in 2024 at a compound annual growth rate (CAGR) of 12.8%. The growth observed in the historical period can be attributed to several factors, including a shift towards subscription-based models, the emergence of Software as a Service (SaaS) and cloud services, consumer demand for flexibility in payment and service models, the introduction of Internet of Things (IoT) and connected devices, as well as the increasing focus on regulatory compliance and security concerns.

The subscription & billing management market size is expected to see rapid growth in the next few years. It will grow to $12.36 billion in 2028 at a compound annual growth rate (CAGR) of 14.4%. The anticipated growth in the forecast period can be attributed to continuous innovation and product development, the adoption of subscription models in new industries, increased scalability and flexibility requirements, the expansion of partner ecosystems, and a focus on enhancing customer experience. Major trends expected during this period include a continued shift towards subscription-based business models, a rise in Software as a Service (SaaS) and cloud services, a growing demand for personalization and customization, increased complexity in pricing and packaging, and a heightened emphasis on improving customer experience.

The subscription & billing management market is poised for growth, driven by the increasing penetration of electronic media and devices. The use of mobile devices and laptops by customers for accessing products or services over the internet necessitates effective subscription and billing management. The surge in internet traffic due to COVID-19 lockdowns and restrictions is further contributing to the demand for better management. Gartner reports that an additional 125 million laptops and tablets are expected to be in use in 2021. Thus, the expanding use of electronic media and devices is expected to be a key driver for subscription and billing management.

The growth of subscription-based models is playing a significant role in driving the subscription & billing management market. The popularity of subscription-based models across various industries, including SaaS, media streaming, and e-commerce, is a major factor fueling the demand for efficient and fast billing methods. Cloud billing is instrumental in meeting the billing requirements of subscription-based business models. Veza Digital's data indicates that sales of subscription-based business models are projected to grow from $22.7 billion in 2023 to $66 billion in 2027. Hence, the increasing prevalence of subscription-based models is a substantial contributor to the growth of the subscription & billing management market.

A key trend gaining traction in the subscription & billing management market is the implementation of advanced technologies and cloud platforms. Major companies in this market are focused on providing technologically advanced solutions by incorporating next-generation technologies into their software and services. This includes technologies such as computing, big data and analytics, machine learning, cybersecurity, backup, application development, DevOps, marketing automation, and analytics management systems. For example, TCS and MATRIXX Software collaborated to offer a comprehensive cloud-native subscription management platform for Communication Service Providers (CSPs). This solution aims to transform prepaid and postpaid businesses, enhance customer experience, and drive growth.

Usage-based billing is another focus in the subscription & billing management market. This business concept allows clients to pay only for the services they use, optimizing operations for subscription & billing management providers. In September 2022, Cacheflow, a US-based provider of billing and subscription management software, introduced a zero-code usage-based pricing and billing solution. This solution automates customer billing processes, leading to improved cash flows.

In November 2021, Visma, a Norway-based software company, acquired Upodi to enhance its subscription management software offering. This acquisition reflects Visma's commitment to optimizing subscription-based business models to meet the growing demands in the market. Upodi, a Danish-based subscription management and recurring billing platform company, is expected to contribute to Visma's expansion in this domain.

Major companies operating in the in the subscription & billing management market report are Zuora Inc., Aria Systems, Gotransverse, BillingPlatform, cleverbridge AG, SAP SE, Apttus Corporation, Oracle Corporation, NetSuite, Inc., LogiSense Corporation, BLUSYNERGY BUSINESS SERVICES LLP, Cerillion Technologies Limited, Recurly Inc., Computer Sciences Corporation, Transverse LLC, Chargebee Inc., Chargify LLC, SaaSOptics LLC, Chargezoom Inc., PaySimple Inc., Zoho Corporation Pvt. Ltd., AppFrontier LLC, Chargefox Pty Ltd, Billsby, ChargeKeep Inc., Rebilly, Vindicia, Spreedly, Cheddar, Paddle, Subscription DNA, PayClix

North America was the largest region in the subscription & billing management market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the subscription & billing management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the subscription & billing management market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The subscription & billing management market includes revenues earned by entities by providing software and services that automate procedures like subscription creation, evaluation, and billing data preparation. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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