Asia Pacific Revenue Management System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Component (Solution and Services), Deployment (Cloud Based and On-Premise), and Verticals (IT and Telecom, Hospitality, Travel and Tourism, Retail a

Asia Pacific Revenue Management System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Component (Solution and Services), Deployment (Cloud Based and On-Premise), and Verticals (IT and Telecom, Hospitality, Travel and Tourism, Retail and Ecommerce, Banking, Healthcare, Insurance, Media and Entertainment, and Others)

The Asia Pacific revenue management system market is expected to grow from US$ 3,977.27 million in 2022 to US$ 8,082.65 million by 2028. It is estimated to grow at a CAGR of 12.5% from 2022 to 2028.

Rising Use of Subscription-Based Billing & Revenue Management Platforms fuel Asia Pacific Revenue Management System Market

Revenue management systems offer flexibility by allowing users to log in on any device and providing access to updated information. Revenue management systems enable businesses to host their data on the cloud. Companies must prioritize mobile optimization to avoid competitive disadvantage. Therefore, optimizing a website for mobile view ensures that the pages load quickly and display data on different mobile devices. Moreover, subscription-based billing and revenue management models allow customers to pay for products or services based on their usage (pay-as-you-go). Furthermore, the standardization and automation of subscription-based billing and revenue management processes are consistent and secure and help in the management of high-quality data in terms of product, customer, entitlements, and partner—supported by an integrated application architecture. Thus, rising use of subscription-based billing & revenue management platforms is driving the Asia Pacific revenue management system market .

Asia Pacific Revenue Management System Market Overview

The surge in mobile usage, rise in data consumption trend, substantial growth of the telecom industry, and increase in need for IoT connections are the major factors propelling the growth of the billing and revenue management market, mainly in the telecom industry across the region. Moreover, the increasing demand for cloud-based solutions and services among businesses to enhance their compatibility to address the growing subscriber base and manage new revenue streams is anticipated to cater to significant opportunities for the key players providing revenue management solutions. Various companies operating in the revenue management system market are focused on adopting organic and inorganic growth strategies such as product launches, partnerships, and business expansions to sustain their position in the dynamic market. For instance, in August 2022, Choice Hotels Asia Pacific rolled out an automated revenue management tool to its franchisee network, intending to help franchisees effectively manage hotel room rates, channels, and inventory. In addition, the ChoiceMax revenue management system developed a mobile-enabled system that uses pricing and inventory management algorithms and helps hotels optimize their pricing structure, which may ultimately increase revenues. Furthermore, the demand for revenue management systems continues to rise in the healthcare industry for managing financial relationships that arise from medical interactions between a patient and the care provider. In addition, due to the increasing patient pool, it is difficult to keep manual records of all the patients; therefore, revenue management software is increasingly adopted mainly for billing processes. Therefore, to avoid any financial and claim calculation mistakes leading to billing errors, there is a growing adoption of revenue management systems in Asia Pacific, and it is expected to continue in the coming years.

Asia Pacific Revenue Management System Market Revenue and Forecast to 2028 (US$ Million)

Asia Pacific Revenue Management System Market Segmentation

The Asia Pacific revenue management system market is segmented into component, deployment, verticals, and country.

Based on component, the Asia Pacific revenue management system market is segmented into solution, and services. The solution segment held the larger Asia Pacific revenue management system market share in 2022.

Based on deployment, the Asia Pacific revenue management system market is segmented into cloud based and on-premise. The cloud based segment held the larger Asia Pacific revenue management system market share in 2022.

Based on verticals, the Asia Pacific revenue management system market is segmented into IT and telecom, hospitality, travel and tourism, retail and ecommerce, banking, healthcare, insurance, media and entertainment, and others. The hospitality segment held the largest Asia Pacific revenue management system market share in 2022.

Based on country, the Asia Pacific revenue management system market is segmented into China, Japan, South Korea, India, Australia, Singapore, Philippines, and the Rest of Asia Pacific. China dominated the Asia Pacific revenue management system market share in 2022.

Accelya Solutions India Ltd; Amdocs Ltd; Cerillion Plc ; CSG Systems International Inc; Telefonaktiebolaget LM Ericsson ; Netcracker Technology Corp; Optiva Inc; Oracle Corp; SAP SE; and Sage Group Plc are the leading companies operating in the Asia Pacific revenue management system market.

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