The Global Subscription And Billing Management Market size is projected to reach US$8.1 billion by 2027, growing at a CAGR of 12.8% from 2022 to 2027. The growth of the Subscription and Billing Management Industry is mainly attributed to increasing demand for reducing subscriber churn, improving customer retention, growing need for compliance and increasing need for legacy system upgrades. For instance, in February 2022, Recurly, Inc., announced the expansion of its European footprint. However, increasing cyber-attacks and data theft activities would hamper the growth of the Subscription and Billing Management Market. Moreover, Subscription and Billing Management systems are in demand in the BFSI sector where the data traffic is enormous. Lower operational and administrative expenditure, due to credit and collection management systems, revenue cycle management systems and billing mediation, is also driving the demand for Subscription and Billing Management systems in the BFSI sector. For instance, Stripe Inc., a financial services company, uses machine learning-enabled subscription and billing management systems which helped the company to increase its return on investment by 10% on average.

The APAC Subscription and Billing Management Industry held a significant market share of 25% in 2021. APAC is witnessing the fastest growth in the subscription and billing management market on account of the surging adoption of digital transactions and automated solution for online transactions, increasing consumer base and increasing demand from enterprises for their process automation. In 2019, Paytm launched a recurring payment gateway service for merchants that are working on a digital subscription model. It enables subscription-based businesses to collect payments from their subscribers effortlessly. These developments would continue to influence the Subscription and Billing Management industry outlook in the APAC region over the forecast period.

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Subscription And Billing Management Market Growth Drivers:

Rapid Digitalization in the E-commerce Sector and the growing need for process automation:

With the growth of online sales and services, there is a greater demand for Subscription and Billing Management solutions that standardize order, billing and payment processes. Furthermore, the high volume of online transactions necessitated the use of integrated billing platforms, which led to an increase in the adoption of subscription and billing management solutions. In August 2022, according to an IBEF report, India’s E-commerce industry has the potential to reach US$111 billion by FY 2024 which is currently estimated at US$74.8 billion, growing at a CAGR of 21.5%. These factors would positively influence the Subscription and Billing Management Industry outlook over the forecast period.

The Major Players in this Market

Major players in the Subscription and Billing Management Market includes Aria Systems, Inc., Oracle, SaaSOptics, SAP SE, Chargebee, Sage Group Plc and Recurly Inc. In December 2021, Sage Group Plc announced the acquisition of Brightpearl. This merger would work to develop comprehensive Subscription and Billing Management systems.

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