Report : Europe Revenue Assurance for BFSI Market Forecast to 2031 - Regional Analysis - by Component (Solution and Services), Deployment (Cloud and On-Premise), and Organization Size (Large Enterprises and SMEs)
At 10.6% CAGR, Europe Revenue Assurance for BFSI Market is Projected to be Worth US$ 280.31 Million by 2031, says Business Market Insights
According to Business Market Insights' research, the Europe revenue assurance for BFSI market was valued at US$ 124.94 million in 2031 and is projected to reach US$ 280.31 million by 2031, registering a CAGR of 10.6% from 2023 to 2031. Increasing need for revenue leakage prevention in complex banking environment and benefits of managed service approach in revenue assurance are among the critical factors attributed to drive the Europe revenue assurance for BFSI market growth.
There is a rise in competition across the BFSI sector. Service providers are focusing on making their prices competitive and innovative in order to differentiate their offerings. To maintain the pace of innovation and lower prices while remaining profitable, firms must identify ways to improve operational efficiency. In this context, they are assessing all chances to reduce operational costs, including a review of all solutions, such as managed services. With income assurance managed services, BFSI firms may manage the complexity of their business, particularly control and support tasks, and focus their efforts on expansion and innovation initiatives that might generate additional income. A revenue assurance team should be equipped with business process experience and technological know-how to identify discrepancies and deviations during the implementation of a company strategy. Outsourcing revenue assurance activities, either partially or entirely, not only improves internal auditing skills but also allows for the expansion of responsibilities and talents within these teams without the need to hire additional workers. A revenue assurance managed services team should be adaptable and multidisciplinary, and they should work consistently to detect, investigate, and analyze the defined and implemented controls, proposing corrections and appropriate corrective actions to ensure the prevention (and avoidance) of inconsistencies. Thus, in order to realize reduced operational cost and provide best expertise in revenue assurance, focus on managed or outsourced service is ought to increase.
On the contrary, lack of awareness and understanding about revenue assurance hampers the growth of the Europe revenue assurance for BFSI market.
Based on component, the Europe revenue assurance for BFSI market is bifurcated into solution and services. The solution segment held 74.7% market share in 2023, amassing US$ 93.31 million. It is projected to garner US$ 216.65 million by 2031 to register 11.1% CAGR during 2023-2031.
Based on deployment, the Europe revenue assurance for BFSI market is bifurcated into cloud and on-premise. The cloud segment held 74.2% market share in 2031, amassing US$ 92.66 million. It is projected to garner US$ 218.29 million by 2031 to register 11.3% CAGR during 2023-2031.
Based on organization size, the Europe revenue assurance for BFSI market is bifurcated into large enterprises and SMEs. The large enterprises segment held 78.2% market share in 2031, amassing US$ 97.75 million. It is projected to garner US$ 216.60 million by 2031 to register 10.5% CAGR during 2023-2031.
Based on country, the Europe revenue assurance for BFSI market is categorized into France, the UK, Germany, Italy, Russia, and the Rest of Europe. Our regional analysis states that the Rest of Europe captured 26.1% share of Europe revenue assurance for BFSI market in 2031. It was assessed at US$ 32.66 million in 2031 and is likely to hit US$ 67.07 million by 2031, registering a CAGR of 9.4% during 2031-2031.
Key players operating in the Europe revenue assurance for BFSI market are Allibius, Sunoida Solutions DMCC, Sagacity Solutions, SunTec Business Solutions, Intelli Solutions S.A., Oracle Corp, and Subex Ltd, among others.
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