Subscription Billing Management Market to Reach $47.7 Billion, Globally, by 2032 at a 21.7% CAGR: Allied Market Research
Increasing payment security issues as well as a global shift toward digital transformation and cloud-based solutions are anticipated to drive the growth of the global subscription billing management market during the forecast period. The North America region is projected to hold the majority of market share by 2032.
PORTLAND, Ore., Sept. 18, 2023 /PRNewswire/ -- Allied Market Research has recently published a report, titled, "Subscription Billing Management Market by Type (Fixed, Variable), by End-users (Entertainment, Ecommerce, Fitness, Publishing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global subscription billing management market generated $6.9 billion in 2022, and is anticipated to generate $47.7 billion by 2032, witnessing a CAGR of 21.7% from 2023 to 2032.
Prime Determinants of Growth
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.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/174753
Report Coverage & Details:
Enquiry Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/174753
Type: Fixed Sub-segment to Hold Highest Share by 2032
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.
End User: Entertainment Sub-segment to Hold Majority of Market Share by 2032
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.
Region: North America Market to Grab Highest Share by 2032
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.
Buy this Complete Report (PDF with Insights, Charts, Tables, and Figures) at:
Leading Players in the Subscription Billing Management Market:
The report provides a detailed analysis of the key players of the global subscription billing management market. These players have adopted different strategies, such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain their dominance in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in ICT & Media Industry:
Confidential Computing Market Expected to Reach $184.5 Billion by 2032
PropTech Market Expected to Reach $119.9 Billion by 2032
Swarm Intelligence Market Expected to Reach $725.4 Million by 2032
Messaging Security Market Expected to Reach $21.6 Billion by 2032
IoT Testing Market Expected to Reach $30.4 Billion by 2032
AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model):
AMR introduces its online premium subscription-based library Avenue, designed specifically to offer cost-effective, one-stop solution for enterprises, investors, and universities. With Avenue, subscribers can avail an entire repository of reports on more than 2,000 niche industries and more than 12,000 company profiles. Moreover, users can get an online access to quantitative and qualitative data in PDF and Excel formats along with analyst support, customization, and updated versions of reports.
Get an access to the library of reports at any time from any device and anywhere. For more details, follow the link: https://www.alliedmarketresearch.com/library-access
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
View original content to download multimedia:https://www.prnewswire.com/news-releases/subscription-billing-management-market-to-reach-47-7-billion-globally-by-2032-at-a-21-7-cagr-allied-market-research-301930320.html
SOURCE Allied Market Research
The Power of AI in Business How to use Chat GPT with ERP
The Future of Networks in the Cloud
Driving Business with Microsoft Expertise and Integration