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Subscription Billing Management Market Trends

  • Report ID: GMI6798
  • Published Date: Sep 2023
  • Report Format: PDF

Subscription Billing Management Market Trends

Usage-based billing is an emerging trend in the subscription billing management industry as businesses seek more flexible & customer-centric models. With this approach, customers are billed based on their actual consumption or usage of services, rather than fixed monthly fees. This trend caters to diverse customer needs, promotes cost transparency, and aligns pricing with the value received.
 

As the demand for personalized & pay-as-you-go services grows, usage-based billing offers companies a competitive edge by providing a more tailored & cost-effective subscription experience. For instance, in June 2023, Amberflo, a cloud-metering & usage-based billing platform, unveiled the Amberflo Salesforce App. This release is intended to cater to the growing trend of product-led growth & usage-based pricing models, offering businesses more flexible & scalable billing solutions within the Salesforce ecosystem.
 

AI and automation are emerging trends in the market, revolutionizing how businesses handle billing processes. AI-driven algorithms can analyze customer behavior & usage patterns to offer personalized pricing & subscription options. Automation streamlines invoicing, payment collection, and subscription renewals, reducing errors & improving efficiency. These technologies enhance customer experiences, optimize revenue, and enable companies to scale their subscription models effectively. As businesses strive for agility & customer-centricity, AI & automation play a pivotal role in shaping the future of subscription billing management.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of subscription billing management reached USD 6 billion in 2023 and is set to witness over 16% CAGR between 2024 and 2032, favored by the rising adoption of subscription-based business models across various industries, including software, media, and e-commerce.

The cloud segment accounted for a market share of around 40% in 2023, owing to the scalability, accessibility, and cost-effectiveness it offers to businesses.

North America market had a share of over 30% in 2023, as the region has a mature & technologically-advanced business landscape with a high adoption rate of subscription-based services.

SAP SE, Salesforce.com Inc., Conga Solution, Recurly Inc., Amazon Web Services, Inc., Oracle Corporation, and Zuora Inc.

Subscription Billing Management Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 15
  • Tables & Figures: 334
  • Countries covered: 20
  • Pages: 270
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