Subscription & Billing Management Market

Subscription & Billing Management Market is predicted to rise at USD 10,100 million by 2027 at a CAGR of 14% during the forecast period.

Subscription billing is a complicated business model that involves a digital or physical method and allows the subscribed customers to pay their bills. Currently, a large number of websites and businesses are accessing these services for a better management of subscribers. Multiple service providers from the subscription and billing management market are providing an automatic payment option, which could be done by linking the user’s credit or debit card or bank account. However, the subscription billing option requires a high level of security that is needed to be added in every payment and billing process to eliminate the possibility of financial and legal issues in events of hacking and fraud.

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The significant factors boosting the growth of the Global Subscription & Billing Management market include the increasing need for upgrading legacy systems, rising adoption of subscription business models, growing need for adhering to compliance, and rising emphasis on reducing subscriber churn to improve customer retention. Customer churn is one of the significant problem for businesses as gaining new customers is more expensive than retaining existing ones. In order to eliminate such challenges, various organizations are adopting subscription & billing management solutions. It offers personalized service, such as purchase history, new services and customized promotion based on customers’ past activity, thereby encouraging the customer retention rate.

Businesses like Hulu and Netflix have adapted such business tactics to leverage user’s viewing behavior and provide customized recommendation as per the customer’s preference, which in turn, will complement the growing demand of the market. On the contrary, higher deployment and upgradation costs for maintaining subscription & billing management software might hinder the growth of the market.

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Based on organization size, the market is segmented into SMEs and large enterprises. Among these, the SMEs category is anticipated to grow at a higher CAGR during the forecast period. This is attributed to the high demand for cost-effective, cloud-based subscription & billing management software among SMEs. The easy availability of low-cost capabilities enables SMEs to sustain and compete in service market space and allows them to enhance customer engagement by providing efficient benefits and services. Moreover, the rising focus on delivering enhanced customer experience and the increasing need to automate manual financial and accounting process is boosting the adoption of subscription & billing software among SMEs.

On the basis of the vertical, the market is segmented into BFSI, retail & e-commerce, IT, telecom, media & entertainment, public sectors & utility, transportation & logistics, and others. Among this, the IT segment is anticipated to lead the market during the forecast period, attributed to the significant shift from traditional software to a subscription-based model. Moreover, emerging tech start-ups are also practicing usage-based charging in B2B space, resulting in the growth of subscription & billing management software in IT industry.

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Based on the region, the North America is projected to grow at a higher CAGR over the forecast period owing to the large presence of key players, including, Salesforce.com Inc, Aria Systems Inc, and Apttus Corporation in the region. With the rising usage of cloud-based services and bring your own device (BYOD), there has been an upsurge in the automation of the subscription process in the region. Businesses in the developed countries, especially the U.S. and Canada, are heavily investing on subscription & billing software, thereby generating growth of Subscription & Billing Management market in this region.

The key players in the market include 2Checkout.Com Inc, Apttus Corporation, Aria Systems Inc, BillingPlatform LLC, Salesforce.com Inc, SAP SE, Chargebee Inc, Chargify LLC, Zoho Corporation, and Vindicia Inc., among others.

The Global Subscription & Billing Management market has been segmented based on Component, Deployment Type, Organization Size, Vertical, and key Region. Based on the Component, the market is segmented into Solutions and Services. Based on Deployment Type, the market is segmented into Cloud and On-Premises. Based on the Organization Size, the market is segmented into SMEs and Large Enterprises. Based on the Vertical, the market is segmented into BFSI, Retail & e-commerce, IT, Telecom, Media & Entertainment, Public Sectors & Utility, Transportation & Logistics, and Others.

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Key questions answered in this research report:

• • At what pace is the Global Subscription & Billing Management market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the Global Subscription & Billing Management market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenue and forecast breakdowns? Which are the major regional revenue pockets for growth in the Global Subscription & Billing Management market?
  • What are the various verticals in the Global Subscription & Billing Management market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Subscription & Billing Management Market by Component

• • Software
  • Services
    • Professional Services
    • Managed Services

Global Subscription & Billing Management Market by Deployment Type

• • On-Premises
  • Cloud

Global Subscription & Billing Management Market by Organization Size

• • SMEs
  • Large Enterprises

Global Subscription & Billing Management Market by Vertical

• • BFSI
  • Retail and eCommerce
  • IT
  • Telecom
  • Media and Entertainment
  • Public Sector and Utilities
  • Transportation and Logistics
  • Others (Healthcare, Education, and Manufacturing)

Global Subscription & Billing Management Market by Region

• • North America Subscription & Billing Management Market
    Option 1: As a part of the free 25% customization
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • US All-Up Subscription & Billing Management Market
    • Canada All-Up Subscription & Billing Management Market
  • Europe Subscription & Billing Management Market
    Option 2: As a part of the free 25% customization
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • UK All-Up Subscription & Billing Management Market
    • Germany All-Up Subscription & Billing Management Market
    • Rest of Europe All-Up Subscription & Billing Management Market
  • Asia-Pacific (APAC) Subscription & Billing Management Market
    Option 3: As a part of the free 25% customization
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • China All-Up Subscription & Billing Management Market
    • India All-Up Subscription & Billing Management Market
    • Japan All-Up Subscription & Billing Management Market
    • Rest of APAC All-Up Subscription & Billing Management Market
  • RoW Subscription & Billing Management Market
    Option 4: As a part of the free 25% customization
    • By Component
    • By Deployment Type
    • By Organization Size
    • By Vertical
    • U.A.E. All-Up Subscription & Billing Management Market
    • Brazil All-Up Subscription & Billing Management Market
    • Rest of World (remaining countries of LAMEA region) All-Up Subscription & Billing Management Market

Leading Market Players (Option 5: As a part of the free 25% customization – Profiles of 5 Additional Companies of your Choice)

• • 2Checkout.Com Inc
  • Apttus Corporation
  • Aria Systems Inc
  • BillingPlatform LLC
  • Salesforce.com Inc
  • SAP SE
  • Chargebee Inc
  • Chargify LLC
  • Zoho Corporation
  • Vindicia Inc.