South America Revenue Management System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Component (Solution and Services), Deployment (Cloud Based and On-Premise), and Verticals (IT and Telecom, Hospitality, Travel and Tourism, Retail

South America Revenue Management System Market Forecast to 2028 – COVID-19 Impact and Regional Analysis– by Component (Solution and Services), Deployment (Cloud Based and On-Premise), and Verticals (IT and Telecom, Hospitality, Travel and Tourism, Retail and Ecommerce, Banking, Healthcare, Insurance, Media and Entertainment, and Others)

The South America revenue management system market is expected to grow from US$ 788.46 million in 2022 to US$ 1,407.12 million by 2028. It is estimated to grow at a CAGR of 10.1% from 2022 to 2028.

Integration of AI and ML Technologies in Billing and Revenue Management Systems Fuel South America Revenue Management System Market

AI and ML technologies continue to gain momentum and prove their potential in the development of revenue management systems. Many organizations still rely on manual error checks and reports for anomaly detection, making it difficult to identify the root cause, becomes time consuming process. ML and AI help organizations proactively identify anomalous patterns in billing and revenue management solutions. Further, the model continuously improves over time due to regular updates, which results in accurate billing and automation of detecting anomalies. AI and ML can also accelerate root cause analysis, reducing investigation time and costs and providing faster resolution using revenue management systems. Therefore, the growing technological advancements in billing and revenue management are likely to fuel the South America revenue management system market growth during the forecast period.

South America Revenue Management System Market Overview

Based on country, the South America (SAM) revenue management system market is segmented into Brazil, Argentina, and the Rest of South America. Digital transformation of businesses has become a top priority across SAM countries such as Brazil, Argentina, Chile, and Peru. The increasing government initiative to promote the adoption of digital technologies across businesses for smooth operations and rapid growth is catalyzing the demand several revenue management solutions among industries. The increasing population across the region is boosting the adoption of e-commerce, which is leading e-commerce companies to adopt digital solutions for consumer analytics for strategic growth planning. This, in turn, is contributing to the increase in demand for revenue management systems from the retail & e-commerce industry in SAM.

Countries in South America, such as Argentina, Peru, and Chile, are also experiencing a rise in tourists every year, owing to factors such as low visa requirements for visiting the countries. Additionally, the government initiative to promote tourism across the region is increasing the number of tourists year-on-year. These factors are promoting the growth of the hospitality industry across the region. The region is witnessing increased investment in constructing new hotels and restaurants to cater to the increasing number of domestic and international tourists. These factors are influencing the hospitality industry across South America to adopt solutions such as revenue management systems for data analytics, consumer behaviour study, and competitive prices.

South America Revenue Management System Market Revenue and Forecast to 2028 (US$ Million)

South America Revenue Management System Market Segmentation

The South America revenue management system market is segmented into component, deployment, verticals, and country.

Based on component, the South America revenue management system market is segmented into solution, and services. The solution segment held the larger South America revenue management system market share in 2022.

Based on deployment, the South America revenue management system market is segmented into cloud based and on-premise. The cloud based segment held the larger South America revenue management system market share in 2022.

Based on verticals, the South America revenue management system market is segmented into IT and telecom, hospitality, travel and tourism, retail and ecommerce, banking, healthcare, insurance, media and entertainment, and others. The hospitality segment held the largest South America revenue management system market share in 2022.

Based on country, the South America revenue management system market is segmented into Brazil, Argentina, and the Rest of South America. The Brazil dominated the South America revenue management system market share in 2022.

Amdocs Ltd; Cerillion Plc ; CSG Systems International Inc; Telefonaktiebolaget LM Ericsson; Netcracker Technology Corp; Optiva Inc; Oracle Corp; SAP SE; and Sage Group Plc are the leading companies operating in the South America revenue management system market.

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