Europe Revenue Assurance Market
No. of Pages: 100 | Report Code: BMIRE00030429 | Category: Technology, Media and Telecommunications
No. of Pages: 100 | Report Code: BMIRE00030429 | Category: Technology, Media and Telecommunications
The Europe revenue assurance market was valued at US$ 1,541.74 million in 2022 and is expected to reach US$ 3,434.90 million by 2030; it is estimated to record a CAGR of 10.5% from 2022 to 2030. Rise in Internet Penetration Drives Europe Revenue Assurance Market
As internet usage continues to grow, more businesses are conducting their operations online, leading to an increase in the generation of digital transactions and revenue streams. According to World Bank data, globally, the number of individuals using the Internet in 2021 was 63%, an increase from 60% in 2020. With more people accessing the Internet, more digital transactions are taking place. This includes online purchases, digital payments, and other online financial activities. The larger the volume of transactions, the greater the need for effective revenue assurance measures to ensure accurate billing, prevent revenue leakages, and detect fraudulent activities. Moreover, the rise in internet penetration has fueled the growth of the e-commerce industry. Online retail platforms and marketplaces are experiencing increased activity, with more businesses and consumers participating in online buying and selling. Revenue assurance is crucial in ensuring accurate revenue recognition, managing inventory, and preventing revenue leakages in e-commerce. There is a significant increase in the use of mobile internet. As more people access the Internet through their mobile devices, there is a need for revenue assurance solutions that can effectively monitor and manage revenue streams from mobile services, such as mobile data, voice calls, and value-added services. Hence, the rising internet penetration is a significant driver for the revenue assurance market.Europe Revenue Assurance Market Overview
The Europe revenue assurance market is segmented into Germany, France, Italy, the UK, Russia, and the Rest of Europe. The Rest of Europe market is further segmented into Spain, Switzerland, the Netherlands, and Denmark. These countries are technologically advanced, and the governments of the countries mentioned above continuously invest substantial amounts in adopting robust and enhanced technologies. The revenue assurance market is experiencing significant growth in Europe, driven by factors such as rising instances of revenue leakage. Increased complexity in business models and service offerings, coupled with evolving technologies, creates more opportunities for revenue to slip through the cracks. Companies are recognizing the need for robust assurance solutions. Further, the UK businesses estimate that 5.87% of revenues remain uncollected each year, equating to US$ 263 billion in annual losses.
Several companies in Europe are engaged in strategies for the implementation of revenue assurance services. For instance, in May 2021, Global Message Services (GMS), an international messaging service provider and one of the pioneers in A2P, P2P, and P2A messaging and monetization, inked a partnership with leading telecom security solutions provider Cellusys to offer the highest degree of A2P revenue assurance through comprehensive SMS security and control. The integrated solution with onboard analytics improves the quality of service and protects mobile network operators against SMS fraud and revenue leakage in messaging.
An increase in telecommunication activity in Europe can potentially offer significant benefits to the revenue assurance market. With more users subscribing to diverse services such as 5G, IoT, cloud computing, and advanced data packages, telecom operators grapple with intricate billing systems and contracts.
This complexity creates more opportunities for errors and revenue leakage, hence requiring robust revenue assurance solutions. Moreover, emerging technologies such as artificial intelligence (AI) and machine learning (ML) can automate time-consuming tasks and provide real-time insights into potential revenue leaks. This improves the efficiency and effectiveness of revenue assurance practices. Thus, owing to the above factors, such as the rise in revenue leakage, the rising implementation of revenue assurance, and the increasing telecom industry, the revenue assurance market in Europe is propelling.
Europe Revenue Assurance Market Revenue and Forecast to 2030 (US$ Million)
Strategic insights for the Europe Revenue Assurance provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the Europe Revenue Assurance refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
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Report Attribute
Details
Market size in 2022
US$ 1,541.74 Million
Market Size by 2030
US$ 3,434.90 Million
Global CAGR (2022 - 2030)
10.5%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Component
By Deployment
By Vertical
Regions and Countries Covered
Europe
Market leaders and key company profiles
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Europe Revenue Assurance Market Segmentation
The Europe revenue assurance market is categorized into components, deployment, organization size, vertical, and country.
Based on component, the Europe revenue assurance market is bifurcated into solution and services. The solution segment held a larger market share in 2022.
Based on deployment, the Europe revenue assurance market is bifurcated into on-premises and cloud-based. The cloud-based segment held a larger market share in 2022.
Based on organization size, the Europe revenue assurance market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger market share in 2022.
Based on vertical, the Europe revenue assurance market is categorized into BFSI, hospitality, telecom, utilities, and others. The telecom segment held the largest market share in 2022.
By country, the Europe revenue assurance market is segmented into the Germany, France, Italy, the UK, Russia, and the Rest of Europe. The UK dominated the Europe revenue assurance market share in 2022.
Cartesian Inc, Nokia Corp, Tata Consultancy Services Ltd, Amdocs, Subex Ltd, LATRO Services Inc, Araxxe SAS, Panamax Inc, and Adapt IT Holdings Proprietary Ltd are some of the leading companies operating in the Europe revenue assurance market.
1. Cartesian Inc
2. Nokia Corp
3. Tata Consultancy Services Ltd
4. Amdocs
5. Subex Ltd
6. LATRO Services Inc
7. Araxxe SAS
8. Panamax Inc
9. Adapt IT Holdings Proprietary Ltd
The Europe Revenue Assurance Market is valued at US$ 1,541.74 Million in 2022, it is projected to reach US$ 3,434.90 Million by 2030.
As per our report Europe Revenue Assurance Market, the market size is valued at US$ 1,541.74 Million in 2022, projecting it to reach US$ 3,434.90 Million by 2030. This translates to a CAGR of approximately 10.5% during the forecast period.
The Europe Revenue Assurance Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Revenue Assurance Market report:
The Europe Revenue Assurance Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Revenue Assurance Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Revenue Assurance Market value chain can benefit from the information contained in a comprehensive market report.
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