Artificial Intelligence (AI) and Machine Learning (ML) Integration to Drive Revenue Management System Market Growth

DUBLIN, July 26, 2023 /PRNewswire/ -- The "Revenue Management System Market Forecast to 2028: Global Analysis by Component, Deployment, and Verticals" report has been added to ResearchAndMarkets.com's offering.

The report provides a comprehensive analysis of the global revenue management system market with key insights and growth projections for the period 2022-2028.

Key Findings:

• The revenue management system market is witnessing significant transformation, driven by increasing demand for revenue and channel management solutions.
• Upgrading existing legacy systems and adopting competitive pricing strategies are key drivers of market growth.
• Subscription-based billing and revenue management platforms experience growing adoption due to increased mobile device penetration.

Challenges and Opportunities:

• Compatibility issues with existing infrastructure present challenges to market adoption and growth.
• Opportunities arise from cross-department collaboration and the need for personalized revenue management solutions.

Trends and Future Outlook:

• Integration of Artificial Intelligence (AI) and Machine Learning (ML) in billing and revenue management systems is a prominent future trend.
• The hospitality industry shows potential for advanced revenue management system adoption.

Market Projections:

• The global revenue management system market is projected to reach US$ 37.1 billion by 2028, growing at a CAGR of 13.1% during the forecast period.

Industries Driving Growth:

The market's growth is driven by the following key industries:

1. IT & Telecom:

• Constantly developing digital solutions to enable seamless operations.
• Increased demand for billing automation for postpaid and prepaid clients.
• Adoption of competitive pricing strategies to stay ahead in the market.
1. Travel & Tourism:

• Rising global standard of living boosts the industry.
• Demand for price management and revenue assurance solutions to cater to diverse customer needs.
• Personalized offers based on customer behavior analysis.

Market Segmentation:

The revenue management system market is segmented based on:

• Components: Solutions and services.
• Deployment Types: On-premise and cloud-based solutions.
• Industry Verticals: Banking, IT & telecom, hospitality, healthcare, retail & e-commerce, insurance, travel & tourism, media & entertainment, and others.
• Geography: North America, Europe, Asia Pacific, Middle East & Africa, and South America.

Company Profiles:

The report features profiles of prominent companies operating in the revenue management system market, including:

• Accelya Solutions India Ltd
• Amdocs Ltd
• Cerillion Plc
• CSG Systems International Inc
• Telefonaktiebolaget LM Ericsson
• Netcracker Technology Corp
• Optiva Inc
• Oracle Corp
• SAP SE
• Sage Group Plc

The "Revenue Management System Market Forecast to 2028" report offers valuable insights into the current status, growth prospects, and future trends of the market. Businesses in various industries can leverage this analysis to make informed decisions about adopting revenue management systems, enabling them to optimize their revenue streams effectively.

For more information about this report visit https://www.researchandmarkets.com/r/5ql24b

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SOURCE Research and Markets