Early impacts of COVID 19 on Revenue Management Market

Early impacts of COVID 19 on Revenue Management Market

“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)”
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

The ongoing COVID-19 pandemic—and the worldwide reaction to it—has compelled companies to radically rethink their strategies and the way they operate. We salute the industry experts helping companies survive and sustain in this pandemic.

At MarketsandMarkets™, analysts are undertaking continuous efforts to provide analysis of the COVID-19 impact on the Revenue Management Market. We are working diligently to help companies take rapid decisions by studying:

  • The impact of COVID-19 on the Revenue Management Market, including growth/decline in product type/use cases due to the cascaded impact of COVID-19 on the extended ecosystem of the market
  • The rapid shifts in the strategies of the Top 50 companies in the Revenue Management Market
  • The shifting short-term priorities of the top 50 companies’ clients and their client’s clients

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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.

By component, the solutions segment to record a larger market size during the forecast period

The solutions segment consists of billing and payment, price management, revenue assurance and fraud management, channel management where revenue management vendors can provide one-stop, end-to-end solutions for enterprises. The billing and payment solution comprises intelligent configuration, pricing, and quoting solutions, deal management tender management, order management, and financial accounting. The channel management solution consists of channel data management, rebate management, and marketing fund management. Channel management enables enterprises to provide personalized pricing and tailored products for customers, depending upon their attributes. The pricing management solution makes use of smart algorithms for data mining and smart pricing algorithms, thus using the information to arrive at better pricing and promotions for enterprises. The revenue assurance and fraud management solution optimizes enterprise control of the billing chain and ensures billing accuracy to detect even the minutest errors for reducing revenue leaks.

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By service, the managed services segment to record a higher growth rate during the forecast period

Managed services offer support to businesses through infrastructure management, application configuration management, and business operations management. It has become difficult for companies to focus on core business processes and support various other functions as well, and therefore managed services have become a high growth segment in the industry. These services offer technical skills, which are required to maintain and update all software in the revenue management ecosystem. All the pre and post-deployment queries and needs of the customers are addressed under managed services. Managed services provide end users with software configured as per their requirements, offering assistance at every step of the software usage.

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.

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.

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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.

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