At 11.8% CAGR, North America Revenue Assurance Market is Projected to be Worth US$ 4,682.84 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the North America revenue assurance market was valued at US$ 1,921.91 million in 2022 and is expected to reach US$ 4,682.84 million by 2030, registering a CAGR of 11.8% from 2022 to 2030. Rise in internet penetration and expansion of telecom sector are among the critical factors attributed to drive the North America revenue assurance market growth.

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.

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

Based on component, the North America revenue assurance market is bifurcated into solution and services. The solution segment held 74.9% market share in 2022, amassing US$ 1,438.59 million. It is projected to garner US$ 3,551.60 million by 2030 to register 12.0% CAGR during 2022-2030.

In terms of deployment, the North America revenue assurance market is bifurcated into on-premises and cloud-based. The cloud-based segment held 73.6% share of North America revenue assurance market in 2022, amassing US$ 1,414.04 million. It is anticipated to garner US$ 3,647.33 million by 2030 to expand at 12.6% CAGR during 2022-2030.

In terms of organization size, the North America revenue assurance market is bifurcated into SMEs and large enterprises. The large enterprises segment held 70.2% share of North America revenue assurance market in 2022, amassing US$ 1,349.89 million. It is anticipated to garner US$ 3,368.14 million by 2030 to expand at 12.1% CAGR during 2022-2030.

Based on vertical, the North America revenue assurance market is segmented into BFSI, hospitality, telecom, utilities, and others. The telecom segment held 34.2% market share in 2022, amassing US$ 657.67 million. It is projected to garner US$ 1,692.50 million by 2030 to register 12.5% CAGR during 2022-2030.

Based on country, the North America revenue assurance market is categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 83.0% share of North America revenue assurance market in 2022. It was assessed at US$ 1,595.18 million in 2022 and is likely to hit US$ 3,988.62 million by 2030, registering a CAGR of 12.1% during 2022-2030.

Key players operating in the North America revenue assurance market are Cartesian Inc, Nokia Corp, Tata Consultancy Services Ltd, Amdocs, Subex, LATRO Services Inc, Araxxe SAS, Panamax Inc, and Adapt IT Holding Proprietary Ltd., among others.

In August 2021, Subex Ltd. has extended its partnership with telecom operator Robi to upgrade its existing integrated revenue assurance and fraud management (iRAFM) system. Through this upgrade, Robi leveraged the artificial intelligence/machine learning (AI/ML) capabilities of Subex's revenue assurance and fraud management solutions to tackle new-age telecom threats in the region and deliver a superior customer experience as it looks to provide services built on 5G.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com