Technavio, a tech-focused market research firm, has published a new report on the global consumer billing management software market, which is predicted to grow at a CAGR of close to 7% during the anticipated period 2017-2021.
Based on geographical segmentation, Technavio market researchers categorize the global consumer billing management software market into the key regions: the Americas, APAC, and EMEA.
Consumer billing management software market in Americas: The increasing adoption of digital technology will augment the market’s growth in the American during the forecast period. The US and Canada will emerge as the key revenue generator in the American market. The vendors in the market are introducing cost-effective cloud-based CBM software solutions that will help them attract more consumers. The SMEs are the largest consumers of cloud-based CBM in the American market. These systems are cost-effective and promote digitalization across all industries in the Americas.
According to Amrita Choudhury, a lead analyst at Technavio, specializing in research on an enterprise application, “Various organization in the American market are investing in the development of CBM software which will help to streamline of business applications and reduce overhead costs. IT investments in Mexico, Brazil, and Argentina will make it the fastest growing countries in the American market. The service providers are integrating specialized features with CBM software to boost the sales of these systems in the market.”
Consumer billing management software market in EMEA: The high adoption rate of CBM software in the EMEA market is attributed to the preference and shift toward cloud-based solutions and services. The advances in technology and the demand for efficient management of billing processes is driving the growth in the EMEA market. The service providers in this region are offering solutions with a complete suite of self-service functionalities, and these are delivered on-premises or over the cloud infrastructure. Moreover, the adoption of this technology provides high billing accuracy, low frequency of late payments, improved customer retention; fewer declined credit card transactions and a smoother payment processing.
Consumer billing management software market in APAC: Rising awareness about the software and the investments by various industry sectors will increase the requirement for CBM software in the APAC market. The demand for modern infrastructure, the popularity of social media, application of mobile devices, and economic expansion will propel the adoption of these solutions in this region. China, Japan, South Korea, India, and Australia are the primary adopters of on-premises CBM software in the APAC market.
The key players operating in the global consumer billing management software market are:
- Amdocs
- EnergyCAP
- Harris ERP
- Healthpac
- Huawei
- Mckesson
- Oracle
The other prominent vendors in the market consist of athenahealth, CareCloud, Cerillion Technologies, CSG International, Continental Utility Solutions, Dataman Computer Systems, Ericsson, Formula Telecom Solutions, Gentrack, Logics Solutions, LogNet Systems, LogiSense, National Information Solutions Cooperative, Netcracker, Redknee, and United Systems and Software.
A more detailed analysis is available in the Technavio report titled, ‘Global Consumer Billing Management Software Market 2017-2021’. Technavio also customizes reports by additional countries and specific segments upon request.
Other related reports:
- Global Business Accounting Software Market 2017-2021
- Global Trade Management Software Market 2016-2020
- Global Dental Practice Management Software Market 2016-2020
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