Africa Revenue Assurance Market Forecast to 2030 - Regional Analysis - by Component (Solution and Services), Deployment (On-Premise and Cloud-Based), Organization Size (SMEs and Large Enterprises), and Vertical (BFSI, Hospitality, Telecom, Utilities, and

Africa Revenue Assurance Market Forecast to 2030 - Regional Analysis - by Component (Solution and Services), Deployment (On-Premise and Cloud-Based), Organization Size (SMEs and Large Enterprises), and Vertical (BFSI, Hospitality, Telecom, Utilities, and Others)

The Africa revenue assurance market was valued at US$ 119.99 million in 2022 and is expected to reach US$ 210.05 million by 2030; it is estimated to record a CAGR of 7.3% from 2022 to 2030.

Rise in Internet Penetration Fuels Africa Revenue Assurance Market

As internet usage continues to grow, more businesses are conducting their operations online, leading to an increase in the generation of digital transactions and revenue streams. According to World Bank data, globally, the number of individuals using the Internet in 2021 was 63%, an increase from 60% in 2020. With more people accessing the Internet, more digital transactions are taking place. This includes online purchases, digital payments, and other online financial activities. The larger the volume of transactions, the greater the need for effective revenue assurance measures to ensure accurate billing, prevent revenue leakages, and detect fraudulent activities. Moreover, the rise in internet penetration has fueled the growth of the e-commerce industry. Online retail platforms and marketplaces are experiencing increased activity, with more businesses and consumers participating in online buying and selling. Revenue assurance is crucial in ensuring accurate revenue recognition, managing inventory, and preventing revenue leakages in e-commerce. There is a significant increase in the use of mobile internet. As more people access the Internet through their mobile devices, there is a need for revenue assurance solutions that can effectively monitor and manage revenue streams from mobile services, such as mobile data, voice calls, and value-added services. Hence, the rising internet penetration is a significant driver for the revenue assurance market.

Africa Revenue Assurance Market Overview

The upsurge in mobile technology is one of the major factors propelling the revenue assurance industry growth in Africa. Mobile technology is set to play a crucial role in the way people live and businesses operate, enabling new digital solutions for both large and small enterprises and enhancing the support available to consumers through expanded online channels. The adoption of 4G technology has grown significantly in recent years, mainly due to the increasing demand for higher speeds, particularly among younger consumers. In the next five years, the adoption of 4G in Sub-Saharan Africa is projected to more than double, reaching a penetration rate of 45%. The momentum for 5G deployment is also gaining traction, with an initial focus on urban areas and industrial locations with greater demand for advanced connectivity. The introduction of 5G is expected to contribute US$ 11 billion to the Sub-Saharan African economy by 2030, accounting for over 6% of the overall economic impact of the mobile industry.

Africa Revenue Assurance Market Revenue and Forecast to 2030 (US$ Million)

Africa Revenue Assurance Market Segmentation

The Africa revenue assurance market is categorized into components, deployment, organization size, vertical, and country.

Based on component, the Africa revenue assurance market is bifurcated into solution and services. The solution segment held a larger market share in 2022.

Based on deployment, the Africa revenue assurance market is bifurcated into on-premises and cloud-based. The cloud-based segment held a larger market share in 2022.

Based on organization size, the Africa revenue assurance market is bifurcated into SMEs and large enterprises. The large enterprises segment held a larger market share in 2022.

Based on vertical, the Africa revenue assurance market is categorized into BFSI, hospitality, telecom, utilities, and others. The telecom segment held the largest market share in 2022.

By country, the Africa revenue assurance market is segmented into the Northern Africa, Western Africa, Southern Africa, Eastern Africa, and Central Africa. Northern Africa dominated the Africa revenue assurance market share in 2022.

Nokia Corp, Tata Consultancy Services Ltd, Amdocs, BDO South Africa Inc, Araxxe SAS, Panamax Inc, and Adapt IT Holding Proprietary Ltd are some of the leading companies operating in the Africa revenue assurance market.

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