Persistence Market Research
With the increasing presence of the business units and their execution processes on an internet-based model is resulting in the deployment of subscription management software in the business units. The subscription management software is widely used for its extended product offerings by the enterprises. The features offered by the subscription management software to the end users are positively responsible for the business growth as it directly affects the customer retention and customer attraction ratio. From the past few years, the importance of the subscription management software is rising due as the software ensures that the right amount of money is being charged to the right person that to at the accurate number of times a year.
The deployment of the subscription management software is increasing rapidly in different industry verticals due to its features such as Dunning, Pricing flexibility, security and others which are responsible for providing the competitive advantage to the end users. The enterprises are focusing on the subscription management software deployment as this software is also contributing to the revenue generation of the enterprises due to charges associated with the subscription process such as stores payment data, recurring billing, and subscription billing, and processing charges.
Global Subscription Management Market: Drivers and Restraints
The major factor responsible for the growing demand of the subscription management software is the features associated with the software to cater all the business unit requirement such as payments done by customer and data storage associated with it, integration and support with the payment gateway’s, automated billing and contracts and others. These features are widely preferred by the organizations to maintain the business process flow.
The other factors such as availability of the cloud-based solutions deployment for the subscription management software is also responsible for driving the demand for the subscription management solution. Also, the increasing importance of the customer satisfaction in the business units is one of the factors responsible for the increasing demand of the subscription management software globally. On the other hand, higher deployment costs for deployment as well as upgrading and maintaining the subscription management software is one of the major challenging factors for the growth of the subscription management software.
Global Subscription Management Market: Segmentation
The global market for the Subscription Management is segmented on the basis of the deployment type, by industry verticals, and on the basis of an end user of the Subscription Management.
Segmentation on the basis of deployment type
The Subscription Management are offered at the different type of deployment options for the end users. These deployments are offered based on the end user requirement as per the available resources with the organizations. The segmentation on the basis of the deployment type includes the cloud and on-premise deployment.
Segmentation on the basis of industry verticals
This segmentation is performed on the basis of the industry verticals of the Subscription Management. The industry verticals segment consists of the industries which are using the subscription management software for managing the customer satisfaction programs. The industry verticals segments include BFSI, Retail, IT & Telecommunication, Media and Entertainment, manufacturing, Healthcare, and others.
Segmentation on the basis of end users
This segmentation is performed on the basis of end users of the Subscription Management. The end users are categorized based on the size of the organization which is performed on the basis of the number of employees of the organization and also the end users involved in using the Subscription Management. The segmentation by end users includes the small enterprises, medium enterprises, and large enterprises.
Global Subscription Management Market: Industry Key Players
The global vendors for Subscription Management include:
The key players considered in the study of the Subscription Management market are Zuora Inc., Oracle Corporation, SAP SE, NetSuite, Inc., Cleverbridge AG, Cerillion Technologies Limited, Avangate, Inc., Apttus Corporation, Aria Systems, Inc., and Transverse. These key vendors constantly focus on the extending product offerings and introducing the innovations in the products.
Global Subscription Management Market: Region-wise outlook
The global market for Subscription Management is divided on the basis of regions into North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan, Japan, and Middle East & Africa. Among these regions, the North America region dominates the market in terms of revenue generation because of the constant innovations of the advanced technologies and availability of the cloud platform based deployment in this region. The Western Europe follows the North America market due to the presence of developed countries and a greater ability of the enterprises on the expenditure of the concerned industries in this region followed by Eastern Europe. The APEJ region is expected to grow at highest CAGR in forecast period due to increasing focus of the SME’s in this region on implementing the customer retention program in developing countries such as India this trend is also followed by Japan region. The MEA and Latin America region are expected to grow at the moderate CAGR.
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