New York, USA, Sept. 08, 2021 (GLOBE NEWSWIRE) -- A research report published by Research dive on the global revenue assurance market explains the impact of COVID-19 pandemic on the present outlook and the future of the market. Comprehensive analysis on drivers, restraints, challenges, lucrative opportunities, COVID-19 impact, key segments of the market, and competitive landscape are provided in the report.
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Highlights of the Report
The outbreak of the COVID-19 has had favorable impact on the global revenue assurance market.
The anticipated market size in 2020 was $499.7 million before the outbreak of COVID-19. But, due to the COVID-19 chaos, the market size increased to $518.7 million due to the growing demand for revenue assurance services among the individuals and organizations owing to the increasing online transactions during the pandemic.
Check out How COVID-19 impacts the Global Revenue Assurance Market: https://www.researchdive.com/connect-to-analyst/336
Factors Influencing the Market Growth during Coronavirus Pandemic
As per the analysts of Research Dive, a huge number of employees across the globe started opting for the work from home option with available secure connectivity networks. Besides, there has been a sharp increase in the occurrence of revenue attacks including international revenue share fraud (IRSF), SMS scams, social engineering fraud, robocalls, and distributed denial-of-service (DDoS). Thus, due to these revenue attacks, most of the government and financial organizations are implementing revenue assurance systems in order to detect internal & external fraud revenue transactions. All these factors are estimated to boost the revenue assurance market growth in the unprecedented times.
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Future Scope of the Market
The global revenue assurance market is expected to continue to observe striking growth even after the pandemic over the forecast period, majorly due to the growing requirement of strong validation systems along with the swift growth in the consciousness among people regarding the importance of revenue assurance systems for detecting revenue leakages. In addition, the rising trend for incorporation of latest technologies, such as artificial intelligence (AI) in revenue assurance systems is expected to create enormous growth opportunities for the global market by 2026. This AI is used to identify the genuine transactions through innovative technologies including deep learning, data mining, artificial language, and cloud computing.
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Furthermore, the increasing utilization of subscription-based economy method and the increase in number of users performing real-time transactions are predicted to foster the market growth in the projected timeframe.
Major Market Players
1. Cartesian, Inc.
2. Mobileum
3. SUBEX
4. Tech Mahindra Limited
5. Telefonaktiebolaget LM Ericsson
6. AMDOCS
7. Sagacity Solutions
8. IBM
9. Tata Consultancy Services Limited
10. Hewlett Packard Enterprise Development LP
11. Accenture
12. Adapt IT Holdings Limited.
These players are implementing various strategies such as strategic partnerships, technological advancements, product launches, and others to gain a competitive edge in the global industry.
For instance, in February 2020, Amdocs, a leading provider of software & services to media and communications companies, completed the revenue assurance implementation at Kenya-based major mobile network operator, Safaricom. The project was designed to provide Safaricom with more adaptive and comprehensive revenue safeguards for the complete lifecycle of new services across its entire business.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and latest strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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