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According to a research report "Subscription & Billing Management Market by Component (Software and Services), Organization Size (SMEs and Large Enterprises), Deployment Type (Cloud and On-premises), Vertical (IT, Telecom, and Media & Entertainment), and Region - Global Forecast to 2025" published by MarketsandMarkets, the global subscription & billing management market size to grow from USD 4.0 billion in 2020 to USD 7.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 14.0% during the forecast period.
Major factors expected to drive the growth of the subscription & billing management market include rising adoption of subscription business models, increasing demand for reducing subscriber churn and improving customer retention, growing need for adhering to compliances, and increasing need for upgrading legacy system.Browse 114 market data Tables and 36 Figures spread through 164 Pages and in-depth TOC on "Subscription & Billing Management Market - Global Forecast to 2025"Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=199100709Based on organization size, the large enterprises segment to hold a higher market share during the forecast periodThe large enterprises possess strong budget capabilities and are significantly investing in subscription & billing management software and associated services to manage their subscription base efficiently.
They are more concerned about providing efficient and cost-effective services, rather than automating billing processes.
The software helps large enterprises centrally manage most of their operations.
It also assists them in managing customers’ critical data.
Businesses creating audio content will find new ways to monetize their offerings through smart speakers.