Subscription Management and Billing Market Grows at a CAGR of 14.0% | Key Player BillingPlatform, 2Checkout, Cleverbridge, Digital River, Oracle NetSuite

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“2Checkout (US), Apttus (US), Aria Systems (US), BillingPlatform (US), Chargebee (US), Chargify (US), Gotransverse (US), Recurly (US), SaaSOptics (US), Salesforce (US ), Vindicia (United States), Zuora (United States), Digital River (United States), NetSuite (United States), FastSpring (United States) and Zoho (United States) ”

Subscription and billing management market by component (software and services), organization size (SMEs and large enterprises), type of deployment (cloud and on-premises), vertical (IT, telecommunications and media and entertainment) and region – Global forecast for 2025

MarketsandMarkets predicts that the global subscription and billing management market size will grow from $ 4.0 billion in 2020 to $ 7.8 billion by 2025, at a compound annual growth rate (CAGR) of 14, 0% over the forecast period. The major factors expected to drive the growth of the subscription and billing management market include increasing adoption of subscription business models, increasing demand for reducing subscriber churn rate and improving customer retention. customers, the growing need to meet compliance and the growing need to upgrade the existing system.

Depending on the size of the organization, the large enterprise segment will hold a higher market share during the forecast period

Large companies have strong budgetary capacities and invest heavily in subscription and billing management software and related services to effectively manage their subscription base. They are more concerned with providing efficient and cost-effective services than with automating billing processes. The software helps large companies centrally manage most of their operations. He also assists them in the management of critical customer data. Large companies with a large scale of business activities are geographically dispersed. The integration of subscription and billing management software helps large businesses manage the growing number of bill requests and the growing number of disputed or unpaid bills.

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On the basis of verticals, the media and entertainment vertical sector will experience the highest growth rate during the forecast period

The media and entertainment vertical is expected to experience the highest growth, driven by increasing adoption of digital channels and growing consumption of subscription media. Businesses creating audio content will find new ways to monetize their offerings through smart speakers. For example, Amazon has already introduced a subscription-based model on Alexa Skills. Likewise, Netflix, Spotify and Wrapped also take advantage of the subscription model to offer personalized content organized according to the needs of end users and therefore charge them accordingly. This industry’s subscription and billing management software eliminates the need to implement and manage internal billing systems; this allows the industry to reduce the total cost of ownership, thereby increasing efficiency.

Major subscription and billing management vendors include 2Checkout (US), Apttus (US), Aria Systems (US), BillingPlatform (US), Chargebee (US), Chargify ( US), cleverbridge (Germany), Gotransverse (US), Recurly (US), SaaSOptics (US), Sage Intacct (UK), Salesforce (US), SAP (Germany) , Vindicia (US), Zuora (US), Digital River (US), NetSuite (US), FastSpring (US), JustOn (Germany), Zoho (US) and Fusebill (Canada). These players have adopted various strategies to develop in the subscription and billing management market. Partnerships and new product launches were the most dominant strategies adopted by major players from 2018 to 2020, which helped them innovate their offerings and increase their customer base.

Aria Systems has adopted an organic growth strategy to maximize its presence in the subscription and billing management market. In November 2019, the company announced the availability of its Aria Crescendo monetization platform on Microsoft Azure. With this enhancement, Aria Systems would provide customers with multiple options for deploying their solutions across multiple cloud platforms, including Microsoft Azure. Likewise, in November 2019, Aria Systems extended its existing partnership with Constant Contact, an online marketing company in the United States. According to the partnership, Constant Contact would continue to use Aria Systems’ Aria Crescendo monetization platform across its operations. This partnership would help Aria Systems maintain its existing customer base.

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Zuora has also dominated the market with its organic growth strategies. In January 2020, Zuora partnered with Radiuz, a global mobility platform as a service (MaaS) provider, to replace Radiuz’s local billing system with Zuora Billing. The partnership aims to expand Radiuz’s activities into the B2C space with on-demand mobility access for individual consumers. This partnership would help Zuora to expand its customer base. In November 2019, Zuora signed a technology partnership with Vertalo, a B2B SaaS company founded to map the gaps between primary and secondary commerce of digital securities offerings. Following the partnership, Zuora proposed Zuora Billing to Vertalo to launch the first digital operating system for Vertalo digital assets.

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