Subscription Billing Management Market Type

Growing adoption of billing management and subscription models in utilities, media & entertainment, and the public sector will create more growth opportunities.

PORTLAND, PORTLAND, OR, UNITED STATE, December 5, 2023 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The USD 47.7 Billion Subscription Billing Management Market Reach by 2032 | Top Players such as - Zuora, ZOHO and Chargebee." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global subscription billing management market size was valued at USD 6.9 billion in 2022, and is projected to reach USD 47.7 billion by 2032, growing at a CAGR of 21.7% from 2023 to 2032.

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The growing use of subscription-based business models in a variety of industries, from manufacturing to financial institutions, is expected to drive the growth of the global subscription billing management market in the forecast period from 2023 to 2032. However, an increase in data breach situations as a result of a lack of safe solutions and privacy concerns may hamper the subscription billing management market growth in the coming future. On the contrary, the goal to save operating costs as well as the demand for cloud-based applications are expected to offer remunerative opportunities for the expansion of the subscription billing management market during the forecast period.

The subscription billing management market is segmented on the basis of type, end user, and region. By type, the market is divided into fixed and variable. By end user, the market is classified into entertainment, ecommerce, fitness, publishing, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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The fixed sub-segment of the global subscription billing management market accounted for the largest share of 60.1% in 2022 and is predicted to grow at the highest CAGR of 21.8% by 2032. The prominent growth of the sub-segment is mainly due to a rise in fixed subscribers across several sectors. As consumers demand convenience and flexibility, businesses have responded by offering subscription programs for products and services ranging from software to entertainment, healthcare, and even home needs. This trend has led to an increase in fixed subscribers, who commit to recurrent payments for a certain length of time.

The entertainment sub-segment of the subscription billing management market accounted for the highest share of 45.2% in 2022 and is anticipated to dominate the market during the forecast period. The prominent growth of the sub-segment is mainly due to the convenience and flexibility provided by streaming platforms, which have attracted millions of viewers worldwide. Furthermore, the COVID-19 pandemic increased this trend, with individuals increasingly turning to streaming services for entertainment while staying at home.

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The subscription billing management market in the North America region accounted for the highest share of 43.6% in 2022 and is projected to dominate the market during the forecast period. This growth is mainly due to the increased number of online platform subscribers. With the introduction of numerous streaming services, software platforms, e-learning portals, and digital content providers, customers are increasingly embracing the ease and flexibility of subscription-based services.

The key players profiled in the subscription billing management market analysis report include Zuora Inc., Salesforce, Inc., SAP SE, Oracle Corporation, ZOHO Corporation., Chargebee Inc., Chargify LLC., Recurly Inc., 2Checkout, and Apttus Corporation.

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COVID-19 Scenario

● The outbreak of the COVID-19 pandemic has had a significant impact on the growth of the global subscription billing management market. The pandemic has resulted in a rise in the number of subscribers worldwide, which has contributed to industry growth.

● Moreover, the introduction of new subscription-based models in the entertainment and healthcare industries has resulted in increased market expansion.

● However, the pandemic's economic instability made it challenging for small-scale subscription companies to secure finance. Investors grew more cautious, resulting in fewer funds available for new projects or expansion of current ones, which harmed the market growth.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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