At 9.0% CAGR, Middle East Revenue Assurance Market is Projected to be Worth US$ 518.94 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Middle East revenue assurance market was valued at US$ 261.21 million in 2022 and is expected to reach US$ 518.94 million by 2030, registering a CAGR of 9.0% from 2022 to 2030. Growing importance of revenue assurance in non-telecom sector and rise in internet penetration are among the critical factors attributed to drive the Middle East revenue assurance market growth.

Traditionally associated with the telecommunications industry, revenue assurance is increasingly gaining significance in non-telecom sectors. As businesses across various industries face evolving revenue streams and complex financial operations, robust revenue assurance practices become paramount. Historically, revenue assurance has been focused on telecom companies, aiming to identify and prevent revenue leakages, optimize billing processes, and ensure accurate revenue recognition. However, as organizations outside the telecom industry experience similar challenges in revenue management, the scope of revenue assurance is expanding. Sectors such as banking, insurance, e-commerce, utilities, and healthcare recognize the value of implementing revenue assurance strategies to safeguard their financial operations.

Non-telecom sectors face unique revenue assurance challenges that differ from those in the telecom industry. For instance, banking institutions must ensure accurate transaction reconciliation, prevent fraudulent activities, and comply with regulatory requirements. E-commerce platforms must effectively track and reconcile online transactions, manage inventory, and address issues related to refunds and chargebacks. Similarly, healthcare providers must navigate complex billing processes, handle insurance claims, and ensure accurate revenue recognition. These challenges necessitate the adoption of revenue assurance practices tailored to the specific requirements of each industry.

On the flip side, lack of awareness and understanding of revenue assurance hampers the growth of Middle East revenue assurance market.

Based on component, the Middle East revenue assurance market is bifurcated into solution and services. The solution segment held 75.4% market share in 2022, amassing US$ 196.93 million. It is projected to garner US$ 400.66 million by 2030 to register 9.3% CAGR during 2022-2030.

In terms of deployment, the Middle East revenue assurance market is bifurcated into on-premises and cloud-based. The cloud-based segment held 72.7% share of Middle East revenue assurance market in 2022, amassing US$ 189.97 million. It is anticipated to garner US$ 386.49 million by 2030 to expand at 9.3% CAGR during 2022-2030.

In terms of organization size, the Middle East revenue assurance market is bifurcated into SMEs and large enterprises. The large enterprises segment held 76.1% share of Middle East revenue assurance market in 2022, amassing US$ 198.88 million. It is anticipated to garner US$ 384.93 million by 2030 to expand at 8.6% CAGR during 2022-2030.

Based on vertical, the Middle East revenue assurance market is segmented into BFSI, hospitality, telecom, utilities, and others. The telecom segment held 32.8% market share in 2022, amassing US$ 85.75 million. It is projected to garner US$ 178.46 million by 2030 to register 9.6% CAGR during 2022-2030.

Based on country, the Middle East revenue assurance market is categorized into Saudi Arabia, the UAE, Kuwait, Qatar, Oman, and the Rest of Middle East. Our regional analysis states that the UAE captured 40.3% share of Middle East revenue assurance market in 2022. It was assessed at US$ 105.28 million in 2022 and is likely to hit US$ 225.74 million by 2030, registering a CAGR of 10.0% during 2022-2030.

Key players operating in the Middle East revenue assurance market are Nokia Corp, Tata Consultancy Services Ltd, Amdocs, Subex Ltd, LATRO Services Inc, Araxxe SAS, and Panamax Inc., among others.

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