The Europe Subscription Billing Management Market would witness market growth of 15.3% CAGR during the forecast period (2022-2028).
Before media aggregators like Netflix or software firms like Microsoft used the subscription charging model, the majority of people associated the phrase with newspapers and magazines. And despite widespread acceptance of subscription billing by the most creative businesses in the world, some people are still unsure of how subscription billing may change any company into the revenue recognition system of the future. The subscription business can flourish and extend beyond the use cases that many people generally think of in today's digital environment when the internet connection is widely available and the costs of data gathering and storage are becoming more and more reasonable.
The proliferation of internet-connected gadgets and effective data storage, combined with the rapid advancement of technology, pave the way for subscription-based invoicing. The desire to pay in advance for goods or services that might become dated has diminished. They desire ad-hoc service, developing infrastructures, new information, or the most recent software upgrade. These factors are driving businesses in every sector to switch to subscription, consumption, or usage-based invoicing.
Information and communication technology would soon influence all facets of business and society due to the rapid progression of digital transformation. In addition, according to the Federal Government, in 2016 alone, Germany sold almost 25 million smartphones and 7 million tablets. Currently, over 66% of Germans use a smartphone, and 38% use a tablet to access the internet. Therefore, the increasing growth of the IoT in this region surges the adoption of the subscription billing management market.
The Germany market dominated the Europe Subscription Billing Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $930 million by 2028. The UK market is exhibiting a CAGR of 14.3% during (2022 - 2028). Additionally, The France market would experience a CAGR of 16.1% during (2022 - 2028).
Based on End-use, the market is segmented into BFSI, Retail & E-Commerce, Media & Entertainment, IT & Telecom, Healthcare & Life Sciences and Others. Based on Organization Size, the market is segmented into Large Enterprises and SMEs. Based on Deployment Type, the market is segmented into Cloud and On-premise. Based on Component, the market is segmented into Software and Service. Based on Software Type, the market is segmented into Subscription Order Management, Quote & Pricing Management, Credit & Collection Management, Receivables Management and Dispute Management & Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Subscription Billing Management Market will Hit $14.1 Billion by 2028, at a CAGR of 15.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, SAP SE, Zuora Inc., BluSynergy, Recurly, Inc., Gotransverse, Cleverbridge GmbH, LogiSense Corporation, Aria Systems, Inc., and Conga (Thoma Bravo, LP).
By End-use
By Organization Size
By Deployment Type
By Component
By Country
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