Subscription Billing Management Market Size Worth $23.79 Billion By 2032 | CAGR: 16.10%

Subscription Billing Management Market Size Worth $23.79 Billion By 2032 | CAGR: 16.10%

The global subscription billing management market size is expected to reach USD 23.79 billion by 2032, according to a new study by Polaris Market Research. The report “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, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Extensive growth in the adoption of subscription-driven business models in wide range of industries including financial & banking sector, telecom, media, entertainment, and healthcare among others coupled with the rise in focus on incorporation advanced machine learning capabilities into their platforms for increasing revenue and sales, are leading factors expected to fuel the market growth.

Additionally, prominent digital payment solution and services providers are opting for subscription-based business model to meet the continuous change in consumer demands and companies are implementing on cloud billing platforms into existing products, which is positively affecting the market.

For instance, in July 2022, Recurly unveiled its new faster and more advanced subscription analytics, that is mainly designed to deliver metrics that helps in growing subscription businesses. The enhancements in platform allow customers to accelerate subscription growth, minimize churn, and maximize revenue.

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Many businesses worldwide that are not traditionally subscription-driven are highly focusing on exploring the requirements to launch a subscription business model, as the subscription model allows for the predictability and recurring revenue. And, as customers are demanding more convenient payment options, the popularity of cashless transactions including ACH transfers is rapidly increasing, that in turn, resulting in increased need to create more security and transparency around transactions, which is likely to boost the adoption of efficient subscription billing management software across the globe.

Subscription Billing Management Market Report Highlights

  • Software segment accounted for largest market share, owing to high penetration of this software to work effectively with several accounting tools
  • On-premise segment is projected to grow at a high CAGR during the anticipated period, which is mainly driven by increasing prevalence towards its ability to provide improved flexibility in business operations
  • Large enterprise segment led the industry with majority market share, on account on rising investments of large organizations to integrate innovative subscription billing solution into their processes
  • BFSI segment held the considerable market share, mainly due to widespread adoption of several innovative technologies like artificial intelligence and blockchain
  • North America region dominated the global market, which is highly attributable to wide utilization of these solution among both large and small businesses for providing enhanced service to their customers
  • The global key market players include Recurly Inc., Sage Intacct, Digital River, SAP SE, 2Checkout, Salesforce, Oracle, and Aria Systems

Polaris Market Research has segmented the subscription billing management market report based on component, deployment, enterprise size, end-use, and region:

Subscription Billing Management, Component Outlook (Revenue - USD Billion, 2019 - 2032)

  • Software
  • Services

Subscription Billing Management, Deployment Outlook (Revenue - USD Billion, 2019 - 2032)

  • Cloud
  • On-premise

Subscription Billing Management, Enterprise Size Outlook (Revenue - USD Billion, 2019 - 2032)

  • Large Enterprises
  • Small & Medium Enterprise

Subscription Billing Management, End-Use Outlook (Revenue - USD Billion, 2019 - 2032)

  • BFSI
  • Retail & E-Commerce
  • IT & Telecom
  • Media & Entertainment
  • Healthcare
  • Others

Subscription Billing Management, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

  • North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
  • Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
  • Latin America
  • Argentina
  • Brazil
  • Mexico
  • Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa