Subscription Billing Management Market By Type (Fixed, Variable), By End-users (Entertainment, Ecommerce, Fitness, Publishing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

Subscription Billing Management Market By Type (Fixed, Variable), By End-users (Entertainment, Ecommerce, Fitness, Publishing, Others): Global Opportunity Analysis and Industry Forecast, 2023-2032

The global subscription billing management market is anticipated to reach $47.7 billion by 2032, growing from $6.9 billion in 2022 at a CAGR of 21.7% from 2023 to 2032.

The subscription billing management covers entire lifecycle, including subscription plan design, subscriber onboarding, price management, automated invoicing & payment processing, handling subscription modifications, and revenue tracking. The goal of subscription billing management, as well as a subscription management system, is to assist businesses in successfully monetizing their subscription business models. Although these business models might be challenging to maintain, subscriptions can provide dependable and recurring revenue as compared to traditional sales. In addition to developing products that customers want, businesses also need to establish long-lasting relationships with them. Poorly handled subscriptions can cause increased volatility and damage to the reputation of the company. A subscription billing management platform not only makes it easier to handle all necessary procedures, but it also helps to build enduring relationships with customers by providing personalized products and easy & secure payment processing.

Consumers are spending increasing amounts of time using mobile applications, notably for social networking and texting, in addition to utilizing their cellphones for entertainment and e-commerce. This surging amount of time spent on smartphones can make people purchase goods and services through digital platforms. As the amount of time spent on mobile devices is increasing, the usage of subscription platform is also expected to rise. In the U.S., mobile media consumption is continuing to replace traditional channels' viewership and listenership. To gain and preserve customers for a longer period of time, the companies are providing services based on subscriptions, which is expected to surge the demand for subscription billing management.

The market is susceptible to risks and their effects, such as the difficulty to develop and launch new cloud products across numerous organizations on schedule and in line with consumer expectations due to complexity in various technical settings. The possibility of the product and technology approach failing; customers may not adopt technology platforms, applications, or cloud services quickly enough; they may think about alternative competing products in the market; or the strategy may not match customers' expectations and needs, particularly in the context of extending the product portfolio into new markets. Any one of these events could have a severe negative effect on the business operations, money situation, revenue, and cash flow of the subscription billing management organization.

The pandemic has led to people buying products online through various e-commerce goods and service providers. To stay healthy, people started to buy medicines that boost immunity from pharmacy shops and online healthcare product supplier platforms on a regular basis. With this change in customer behavior, healthcare goods and services providers have also started to shift their focus to providing goods and services on a subscription basis, which necessitated them acquiring an efficient subscription billing management system provider. This habit of buying products on a regular basis is expected to create several opportunities for subscription billing management system providers to acquire new clients for their services.

The COVID-19 pandemic and efforts to control its spread have affected how subscription billing management system providers and their customers, partners, and suppliers are operating their businesses. The COVID-19 pandemic forced governments to issue preventative measures to contain or control the spread of the virus, such as travel restrictions, prohibitions of non-essential activities, quarantines, work-from-home directives, and social distancing orders. These preventative measures resulted in a sharp decrease in demand in certain industries and thus hampered the market growth in the initial stage of the pandemic. Business operations and their demand for subscription-based billing management drastically decreased with the decrease in demand for goods and services due to pandemic restrictions. The pandemic also caused a rise in inflation and the cost of living, which resulted in people buying only the necessary stuff at the time required. People avoided buying products and services repeatedly unless it was very necessary. This impacted people abandoning subscriptions, which directly reduced the business activities of subscription billing management service providers.

The key players profiled in this report include Zuora Inc., Salesforce, Inc., SAP SE, Oracle Corporation, ZOHO Corporation., Chargebee Inc., Chargify LLC., Recurly Inc., 2Checkout, and Apttus Corporation. The market players are continuously striving to achieve a dominant position in this competitive market using strategies such as collaborations and acquisitions.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the subscription billing management market analysis from 2022 to 2032 to identify the prevailing subscription billing management market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the subscription billing management market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global subscription billing management market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Fixed
Variable

By End-users

Others
Entertainment
Ecommerce
Fitness
Publishing

By Region

North America
U.S.
Canada
Mexico
Europe
France
Germany
Italy
Spain
UK
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
UAE
South Africa
Argentina
Rest of LAMEA
Key Market Players
Zuora Inc.
Salesforce, Inc.
SAP SE
Oracle Corporation
ZOHO Corporation.
Chargebee Inc.
Chargify LLC.
Recurly Inc.
2Checkout
Apttus Corporation

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