Subscription Billing Management Market Share, Size, Trends, Industry Analysis Report, By Component (Software and Services); By Deployment; By Enterprise Size; By End-Use; By Region; Segment Forecast, 2023 - 2032
- Published Date:Jun-2023
- Pages: 116
- Format: PDF
- Report ID: PM3302
- Base Year: 2022
- Historical Data: 2019-2021
Report Summary
The global subscription billing management market was valued at USD 5.40 billion in 2022 and is expected to grow at a CAGR of 16.0% during the forecast period. Increasing adoption of the subscription business models, rising need to reduce or mitigate the subscriber churn, and boosting the customer retention rate coupled with the increased penetration for the upgradation of legacy system and demand for adhering to compliances, are primary factors propelling the demand and growth of the global market.
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In addition, the organizations across the globe are increasingly transitioning towards the software-based subscription billing solutions, that helps them in reducing their operational costs, mitigating errors, and reducing the complexities of the monetization models are further anticipated to create significant growth opportunities for the market.
For instance, in April 2022, Expeed Software, introduced its new subscription and revenue management platform named “Saaslogic”, that help companies to launch products quickly and manage them very efficiently. It provides a comprehensive solution for the SaaS product companies, that features to quickly adapt to the changing market conditions and scale.
Moreover, the companies operating in the market are highly focused on the integration of various improved and highly enhanced technologies such as artificial intelligence, internet of Things, and blockchain in their platforms by aiming at improving their offerings. Several digital infrastructure companies are also implementing on cloud billing platforms into their existing products to cater the rising data connectivity demand from their customers, that is positively contributing towards the market.
The outbreak of the COVID-19 pandemic has had a moderately positive impact on the growth of the market. During the pandemic, there has been a tremendous growth in the need and demand for this software among the companies offering video streaming services, digital news & media, online learning, communication software, and e-commerce among others, as it helps in managing their customer payment systems efficiently without errors.
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Industry Dynamics
Growth Drivers
The rapidly increasing adoption of cloud-based services and solutions, evolves in transforming the business models which helps wide range of domains to effectively cope with consistently changing demands of the market along with the emerging trend of business models form static and linear product offering to subscription-based model mainly for recurring, predictable, and stable revenue, are among the major factors driving the growth of the global subscription billing management market.
Furthermore, significant rise in the trend of bring your own device and innovative solutions across the major developed countries like US, Canada, and Germany, that has led to growth in the digitization of the subscription techniques across several sectors and encouraging businesses to invest more in the purchase of subscription and billing software, are further contributing towards the global market growth.
Report Segmentation
The market is primarily segmented based on component, deployment, enterprise size, end-use, and region.
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By Component |
By Deployment |
By Enterprise Size |
By End-Use |
By Region |
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Software segment accounted for the largest market share in 2022
Software segment accounted for largest market share, and is likely to retain its position over the coming years, on account of growing popularity and prevalence to work closely with the several types of accounting tools and continuously growing trend of shifting to subscription-based business models among companies. Also, rising need to track the details of their customers efficiently.
Moreover, increasing focus of key market players on acquiring and collaborating with collection management companies to introduce and further expand their receivables management solutions, are likely to have a positive impact on the growth of the segment. For instance, in February 2022, Chargebee, a leading subscription management solution and services providers, announced the acquisition of Numberz, a collection management platform and introduced Chargebee Receivables to the market. The newly launched platform allows automating the receivables process from purchase to the payment efficiently.
On-premise segment is expected to register significant market growth over the forecast period
The on-premise segment is expected to register a significant growth rate during the forecast period, which is mainly driven by its wide range of beneficial features including effectively cater the change in business needs and ability to runs on the systems installed in the organization without involvement of any kind of third parties. Additionally, on-premise for the billing software has several other advantages like providing better flexibility and connectivity, which in turn, propelling the segment.
The cloud deployment segment led the industry market with considerable revenue share, owing to its ability to accommodate the changes and effectively manage the organizations shifting needs. Moreover, growing prevalence of cloud-based solutions due to its automated process, scalability, business operations support, end-to-end customer life cycle management, and automated processes is further influencing the growth of the market.
Large enterprises segment captured the largest market share in 2022
The large enterprises segment captured the majority market share, which is highly attributable to aggressively increasing investments in the subscription billing management solutions by large enterprises across the globe, as they have a very large customer base and high spending capacity as compared to SMEs. Additionally, various payment companies are entering into strategic partnerships with cloud-based solution providers for the expansion of their customer reach, will further drive the demand and growth of the market.
The small & medium enterprises segment is anticipated to grow at fastest CAGR throughout the projected period, owing to increasing proliferation to automate their manual accounting and financial processes and providing efficient services to their customers along with maximizing their customer retention rates across the globe.
BFSI segment held the significant market revenue share in base year
The BFSI segment held the significant market share with substantial growth rate, which is highly accelerated by rapidly growing adoption of various types of latest innovative technologies and growing prevalence among several payment service providers around the world to partner with large subscription management platform and services providers to offer seamless payment solutions to their customers.
The retail & e-commerce segment is projected to expected to gain a promising growth rate throughout the projected period. The continuous change in the consumer buying preferences and demands along with the extensive use of the online based channels to purchase several types of consumer goods from the automated platforms, that bode well for the growth of the segment over the next coming years.
North America region dominated the industry in 2022
North America region dominated the global market, and is projected to maintain its dominance over the anticipated period. The growth of the regional market can be largely attributed to increased focus on major market players in the region to develop innovative billing management solutions by aiming at providing improved customer service. In addition, the widespread use of these solutions among both large and small market players to manage their customers data effectively and increasing their market reach with improved overall experience, which in turn, has propelled the growth of the market in the region.
Asia Pacific region is anticipated to be the fastest growing region with a high CAGR that is highly attributable to rapid increase in the adoption of digital transaction and automated solution for online shopping and food delivery services and in-app fitness solutions. These solutions have gained significant traction in the region as it enables the subscription-based businesses to efficiently collect payments from their subscribers, which is resulting in high demand especially in countries like India, China, and Indonesia.
Competitive Insight
Some of the major players operating in the global subscription billing management market include Aria Systems, LogiSense Corporation, Conga, Recurly, Oracle Corporation, Sage Intacct, Digital River, NetSuite, BillingPlatform, 2Checkout, Salesforce, FastSpring, Fusebill, Zuora, SAP, Cleverbridge, Gotransverse, SaaS Optics, Zoho, JustOn, & Chargebee.
Recent Developments
- In September 2022, Stax announced the launch of its new software solution called “Stax Bill” that offers SaaS to the purveyors and various other subscription businesses. It will help the finance teams of organizations to effectively leverage multiple Stax solutions within their easy-to-use platform.
- In August 2022, ZYRO, introduced its new Zyro-Book, a cloud deployed GST & billing software that simplifies the complex accounting functions by offering a wide range of features, accounting, & lot of utility.
Subscription Billing Management Market Report Scope
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Report Attributes |
Details |
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Market size value in 2023 |
USD 6.24 billion |
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Revenue forecast in 2032 |
USD 23.79 billion |
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CAGR |
16.0% from 2023– 2032 |
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Base year |
2022 |
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Historical data |
2019– 2021 |
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Forecast period |
2023– 2032 |
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Quantitative units |
Revenue in USD billion and CAGR from 2023 to 2032 |
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Segments covered |
By Component, By Deployment, By Enterprise Size, By End-Use, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key companies |
Aria Systems Inc., LogiSense Corporation, Conga, Recurly Inc., Oracle Corporation, Sage Intacct, Digital River, NetSuite, BillingPlatform, 2Checkout, Salesforce, FastSpring, Fusebill, Zuora, SAP SE, Cleverbridge AG, Gotransverse, SaaSOptics, Zoho, JustOn, and Chargebee. |
FAQ's
The global subscription billing management market size is expected to reach USD 23.79 billion by 2032.
Key players in the subscription billing management market are Aria Systems, LogiSense Corporation, Conga, Recurly, Oracle Corporation, Sage Intacct, Digital River, NetSuite, BillingPlatform, 2Checkout.
North America contribute notably towards the global subscription billing management market.
The global subscription billing management market expected to grow at a CAGR of 16.0% during the forecast period.
The subscription billing management market report covering key segments are component, deployment, enterprise size, end-use, and region.
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