Global Subscription Billing Software Market, By Organization Size (SMEs, Large Enterprises), By Product Vertical (BFSI, Retail and eCommerce, IT, Telecom, Media and Entertainment, Public Sector and Utilities, Transportation and Logistics, Others (Healthcare, Education, and Manufacturing)), and opportunities and forecast 2020-2027
Subscription billing software is software that automates the collection of subscription fees (also known as subscription management software). The subscription billing software allows businesses to bill customers repeatedly for products and services based on their subscription status. The global Subscription Billing Software market is projected to grow at a considerable rate in the forecast period.
The expanding prevalence of electronic media and devices, as well as the high demand for improved subscription management tools and billing software, are two main reasons driving the global subscription billing software market. Subscription and billing management solutions are typically in high demand in the utility, media, and entertainment industries, as well as the public sector. These industries require service providers and organizations to provide high-quality services and timely billing, which the global Subscription Billing Software Market is aiming to achieve.
Modern payment procedures and subscription management solutions must be both powerful and efficient in order to achieve these objectives. Participants in the global Subscription Billing Software sector are also expected to provide value upgrades such as multiple payment ways, lower initial setup costs, accuracy-driven billing, and automated invoicing. These factors will contribute to the market's expansion.
However, the market is currently being held back by growing security issues and concerns about the use of internet platforms, which could make billing systems more exposed to outside cyber-attacks. Simultaneously, clients are discouraged from implementing advanced procedures due to the high expenses of updating and maintaining old billing systems.
Covid-19 Impact on Subscription Billing Software Market
|Market size available for years
|Base year considered
||Value (USD Million)
||Organization Size, Product Vertical, and Region.
||North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA)
||2Checkout, Apttus, BillingPlatform, Chargebee, Chargify, Cleverbridge, Gotransverse, Sage Intacct, Zuora, Digital River.
Like many other industries, COVID-19 badly knocked the electronic and semiconductor industries. This unprecedented event has impacted nearly 230 countries in just a few weeks, resulting in the forced shutdown of manufacturing and transportation activities within and across the countries. This has directly affected the overall sector's growth. It is estimated that COVID-19 to leave more than USD 30 billion impacts on the electronics and semiconductor industry. The sector is majorly affected due to transport restrictions on major electronics and semiconductor raw material providers. However, the emerging need for semiconductors in several industries will offer rapid market recovery over the future period.Subscription Billing Software Market Overview
Based on Organization Size, the SMEs sector is anticipated to enlarge at the fastest rate in the projected period. This is because of the increasing demand among SMEs for low-cost, cloud-based subscription and billing management software. According to Product Vertical, the IT sector is one of the largest segments in the global market. This is due to the major transition from conventional software to a subscription-based model. Additionally, increasing digital start-ups are experimenting with usage-based pricing in the B2B arena, which is propelling the rise of subscription & billing management software in the IT industry.
Subscription Billing Software Market, By Organization Size
· Large Enterprises
Subscription Billing Software Market, By Product Vertical
· Retail and eCommerce
· Media and Entertainment
· Public Sector and Utilities
· Transportation and Logistics
· Others (Healthcare, Education, and Manufacturing) Subscription Billing Software Market Regional Overview
The Global Subscription Billing Software Market is classified into North America, Europe, Asia Pacific, and Latin America, Middle East and Africa. The subscription & billing management market is expected to deliver the greatest revenue potential to suppliers due to the presence of the world's major telecom service providers and subscription & billing management suppliers in North America. The automation of the subscription process has expanded in the region as a result of the rising usage of cloud-based services and bring your own device (BYOD).
Subscription Billing Software Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, Russia & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA) Subscription Billing Software Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Subscription Billing Software are highlighted below.
· In December 2021, Zuora, Inc., the leading cloud-based subscription management platform provider, announced that CareAR, a Xerox company and augmented reality service, is working with the Subscribed Strategy Group (SSG) to implement the Zuora® platform to launch and monetize its digital customer support services as they enter the global market.
· In November 2021, epay, the digital payments processing business segment of global financial technology solutions and payments provider Euronet Worldwide, Inc., announced multiple launches for its new recurring billing solution consisting of subscription products for Microsoft 365, Xbox Game Pass Ultimate, and Xbox All Access in North and South America, Europe, Asia and Australia. Subscription Billing Software Market, Key Players
· Sage Intacct
· Digital River
Frequently Asked Questions (FAQ) :
Q1. What are the driving factors for the Subscription Billing Software market?
A. The expanding prevalence of electronic media and devices, as well as the high demand for improved subscription management tools and billing software, are two main reasons driving the global subscription billing software market.
Q2. What are the restraining factors for the Subscription Billing Software market?
A. The market is currently being held back by growing security issues and concerns about the use of internet platforms, which could make billing systems more exposed to outside cyber-attacks.
Q3. Which segment is projected to hold the largest share in the Subscription Billing Software Market?
A. SMEs segment is projected to hold the largest share in the Subscription Billing Software Market.
Q4. Which region holds the largest share in the Subscription Billing Software market?
A. North America held the largest share in the global Subscription Billing Software market.
Q5. Which are the prominent players in the Subscription Billing Software Market?
A. 2Checkout, Apttus, BillingPlatform, Chargebee, Chargify, Cleverbridge, Gotransverse, Sage Intacct, Zuora, Digital River. are some key players in the Subscription Billing Software Market.