Revenue Assurance Market Trends

Growth Drivers

• Growing Advanced Technologies - The need for network elements is growing at an exponential rate due to the introduction of more sophisticated technologies, a lag in reconciliations, and inadequate team coordination. Even in domestic markets, the emergence of over-the-top (OTT) services and the advent of new technologies have increased competition from firms with highly disruptive business models. Because of the intense competition in the industry, consumers have a wide range of possibilities. It has motivated operators to take advantage of cutting-edge goods and innovations. The need for billing, OSS, and BSS systems has increased as a result of these new services, tiered and bundled product plans, and flat fees. For instance, 96.3% of the top 1 million websites worldwide run Linux, an open-source program.
• Growing Demand for Revenue Assurance Solutions - The market growth is driven by the rising demand for revenue assurance solutions such as planning, consulting, implementing & customizing, support & maintenance, and management services in order to expand a service provider's portfolio of revenue assurance offerings that offer customers access to value creation, operational flexibility, and competition advantages. As a result, it is estimated that the services portfolio will continue to expand due to market reliance on human intervention for growth and development.
• Growing Use in Telecom Industry - Revenue assurance is a service that telecom companies give to help them collect money for services they deliver but are unable to charge for because of inefficient back-office procedures including accounting, regulatory compliance, and record keeping. Revenue assurance is a more attractive way for carriers to increase earnings than finding new clients or entering new markets because of its low expenses and speedy payback. Since cost and revenue leaks are occurring across the operator's operations, it is critical to concentrate on identifying the root cause of revenue leaks, gauging their magnitude, and taking a comprehensive approach to solving them. Therefore, this factor is anticipated to escalate the market growth.

Challenges

• Lack of Organizational Empowerment - End-user businesses frequently fail to empower their waste and resources to invest more in revenue-leakage services and solutions, which is expected to impede demand in the coming years. Furthermore, the lack of focus on change frequently results in extreme situations that have an impact on finances, such as unexpected income leaks that affect billing because of changes made to the website, particularly if risk management activity is lacking or non-existent. This is also anticipated to pose an impediment to market expansion.
• Lack of Skilled Labour may Hamper the Market Growth
• Increase in the reliance of market development on human-led services