Latin America Subscription & Billing Management Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 12.50 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Latin America Subscription & Billing Management Market Analysis
Latin America Subscription and Billing Management Market is expected to register at a CAGR of 4.2% during the forecast period (2022 - 2027). The increasing adoption of digitization and increasing demand for flexibility has given rise to subscription-based businesseas across sectors.
- Automation and standardization of the subscription billing process are becoming necessary due to the substantial growth of the customer base. This is in addition to organizations' growing emphasis on maximizing client retention through improved customer experience. As a result, industry usage of subscription billing management solutions is likely to rise during the projection period.
- Subscription billing solutions typically include tracking capabilities that allow businesses to understand the behavior of customers better and, as a result, boost engagement, customer happiness, and retention. When companies have access to a large amount of consumer data, they may segment clients based on their preferences and decide the best ways to engage each group. This characteristic is expected to drive the growth of the Subscription and Billing Management Market.
- According to Digital TV Research, in September 2021, it is stated that, by 2026, the Latin America region will have 131 million SVOD subscriptions. This represents a huge increase over the 76 million expected for Latin America region by the end of 2021.
- Furthermore, Netflix will remain the dominant SVOD operator; Disney, despite a relatively late start, will make great strides in the market in the following years. By 2026, Netflix will have 48.4 million members in Latin America, with Disney+ coming in second with 32.5 million.
- COVID-19 has had a favorable impact on market growth. Companies of all sizes are rethinking their business strategies for 2021 and beyond. These businesses are implementing subscription management tools with cross-channel visibility to drive normality and make things easier by matching their metrics.
Latin America Subscription & Billing Management Market Trends
This section covers the major market trends shaping the Latin America Subscription & Billing Management Market according to our research experts:
Significant Adoption Is Expected in the Media and Entertainment Industry
- The media and entertainment sector is a prime example of rapid digital transformation, constantly innovating technology and developing new ways to generate and distribute subscription-based digital products. Advertisers, publishers, broadcasters, and others are adopting the subscription-based business model to keep up with the continually expanding demand.
- The subscription video-on-demand (SVOD) streaming scene is fast expanding due to the expansion of media providers like Netflix, Amazon Prime, Eros Now, Hulu, Hotstar, and others. In addition, new entrants like Disney+ and Apple TV+, as well as Claro Video and HBO Max, fuel market expansion.
- Hence, the broadcast platforms, media corporations, and advertising companies are rapidly deploying subscription billing management solutions with an aim to integrate revenue processes into one streamlined customer-focused experience, which is expected to provide unprecedented insight into the entire Quote-to-Cash process.
- Smartphone adoption, low data tariffs, and investments in original and regional digital content are some favorable aspects driving the subscription and billing management industry.
- In September 2021, Respondents were asked to select their favorite subscription video-on-demand (SVOD) platform in a survey conducted by Sherlock Communications in Brazil. Almost two-thirds (63%) of those polled chose Netflix. Amazon Prime came in second place, with 16% of respondents choosing it. Globoplay and HBO Max were selected by around 6% of the subjects.
Internet Penetration holds Significant growth in the Market
- With the increasing number of smartphones worldwide and high-speed cellular networks present in most countries worldwide, the e-commerce industry is growing. With an increase in the E-commerce industry, mobile transactions are also expected to grow rapidly, providing a significant boost to the Subscription market.
- Both B2C and B2B businesses are seeing an increase in recurring revenue from subscriptions. Customers prefer to rent software rather than buy it. Therefore subscription as a service (SAAS) is becoming increasingly popular among enterprises.
- Latin America is a continent brimming with growth chances and potential, with a population of 657 million and a USD 10.5 trillion economy forecast to return to positive growth of 3.7 percent in 2021. It is home to a booming mobile-minded middle class and a knowledge-hungry workforce willing to embrace technological solutions to progress their communities.
- Moreover, According to GSMA Intelligence, mobile internet penetration in Latin America will rise from 53% in 2018 to 64% by 2025.
- For instance, prominent technology companies such as Uber, Spotify, Apple Inc., and Google LLC have transformed their business models to adapt to changing customer demand and are transitioning from a static & linear product offering to a subscription-based model to encourage predictable, recurring, and stable revenue.
- Organizations are considering introducing better billing strategies to build flexible business operations and save capital investment. Paperless billing methods help organizations save money on paper, printing, and shipping. Customers can better arrange their payment schedules and budgets and prevent excessive late penalties by employing software and internet portals for billing and subscriptions.
Latin America Subscription & Billing Management Industry Overview
The Subscription Billing Management Market is fragmented due to several market players in this region offering innovative billing and invoicing solutions for subscription-based businesses. Also, the new and emerging and existing companies are increasingly raising funds to enhance and improvise their offerings to gain maximum market traction.
- February 2022 - Vindicia, a division of Amdocs Media Division, announced an expansion of its long-standing partnership with Vimeo. Vimeo continues using Vindicia's services for subscription management and retention solutions as part of this arrangement.
- October 2021 - Stripe, a worldwide technology company that builds internet economic infrastructure, said it has agreed to purchase Recko, a leading provider of payments reconciliation software for internet businesses.
Latin America Subscription & Billing Management Market Leaders
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EBANX
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Cloudmore
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Oracle
-
SAP
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Vindicia, Inc.
*Disclaimer: Major Players sorted in no particular order
Latin America Subscription & Billing Management Market News
- April 2022 - Stripe, a financial infrastructure platform for businesses, has announced the Stripe Partner Ecosystem, a new partnership program with premier companies whose services help Stripe users succeed in the digital economy. Accenture, Amazon Web Services, IBM, Merkle, MuleSoft, ServiceNow, Slalom, Snowflake, and WPP are among the Stripe Partner Ecosystem members.
- May 2021 - Amdocs, announced the migration of Amdocs Media's Vindicia subscription management portfolio to Amazon Web Services, which will provide subscription-based businesses with enhanced flexibility, scalability, and growth (AWS). As part of the deal, Amdocs provides customers access to its cloud-based, microservices architecture running on AWS, allowing subscription businesses to establish an engaged customer base and build long-term subscription business growth.
- January 2021 - American Tower has agreed to buy 31,000 communications sites in Argentina, Brazil, Chile, Germany, Peru, and Spain from Telefónica's infrastructure company Telxius for USD 9.4 billion.
Latin America Subscription & Billing Management Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions? and Market Definition
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
-
4.2 Market Drivers
- 4.2.1 Surge in Adoption of Subscription business models
- 4.2.2 Increasing need for Updating Legacy Systems
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4.3 Market Challenges
- 4.3.1 Complexities related to Data Synchronization
- 4.4 Assessment of the Impact of COVID-19 on the Latin America subscription and Billing Management Market
- 4.5 Industry Ecosystem Analysis
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4.6 Industry Attractiveness-Porter's Five Force Analysis
- 4.6.1 Bargaining Power of Suppliers
- 4.6.2 Bargaining Power of Buyers/Consumers
- 4.6.3 Threat of New Entrants
- 4.6.4 Threat of Substitute Products
- 4.6.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
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5.1 By Deployment (Trends, Revenue for the period of 2020-2027 & Market Outlook)
- 5.1.1 Cloud
- 5.1.2 On-premise
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5.2 By Organization Size(Trends, Revenue for the period of 2020-2027 & Market Outlook)
- 5.2.1 Small and Medium Enterprises
- 5.2.2 Large Enterprises
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5.3 By End-user Industry (Trends, Revenue for the period of 2020-2027 & Market Outlook)
- 5.3.1 BFSI
- 5.3.2 Retail and E-Commerce
- 5.3.3 IT and Telecommunication
- 5.3.4 Public Sector and Utilities
- 5.3.5 Media and Entertainment
- 5.3.6 Other End-user Industries
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5.4 By Region (Trends, Revenue for the period of 2020-2027 & Market Outlook)
- 5.4.1 Brazil
- 5.4.2 Mexico
- 5.4.3 Rest of Latin America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 EBANX
- 6.1.2 Cloudmore
- 6.1.3 Oracle
- 6.1.4 SAP
- 6.1.5 Vindicia
- 6.1.6 Stripe
- 6.1.7 Kushki
- 6.1.8 Magnaquest Technologies
- 6.1.9 Chargebee
- 6.1.10 OneBill
- 6.1.11 Billcentrix
- *List Not Exhaustive
7. Investment Analysis
8. Future Outlook of the Market
** Subject To AvailablityLatin America Subscription & Billing Management Industry Segmentation
Subscription billing management enables businesses to automate their billing and invoicing process and automatic renewing of their customer's subscriptions on a timely basis. It helps the subscription-based businesses to meet the growing demand for reduction in billing errors by simplifying and automating the complex monetization process, and establish a new subscription billing and recurring revenue management capability.
| By Deployment (Trends, Revenue for the period of 2020-2027 & Market Outlook) | Cloud |
| On-premise | |
| By Organization Size(Trends, Revenue for the period of 2020-2027 & Market Outlook) | Small and Medium Enterprises |
| Large Enterprises | |
| By End-user Industry (Trends, Revenue for the period of 2020-2027 & Market Outlook) | BFSI |
| Retail and E-Commerce | |
| IT and Telecommunication | |
| Public Sector and Utilities | |
| Media and Entertainment | |
| Other End-user Industries | |
| By Region (Trends, Revenue for the period of 2020-2027 & Market Outlook) | Brazil |
| Mexico | |
| Rest of Latin America |
Latin America Subscription & Billing Management Market Research FAQs
What is the current Latin America Subscription and Billing Management Market size?
The Latin America Subscription and Billing Management Market is projected to register a CAGR of 12.5% during the forecast period (2024-2029)
Who are the key players in Latin America Subscription and Billing Management Market?
EBANX, Cloudmore, Oracle, SAP and Vindicia, Inc. are the major companies operating in the Latin America Subscription and Billing Management Market.
What years does this Latin America Subscription and Billing Management Market cover?
The report covers the Latin America Subscription and Billing Management Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Latin America Subscription and Billing Management Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Latin America Subscription and Billing Management Industry Report
Statistics for the 2024 Latin America Subscription and Billing Management market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Latin America Subscription and Billing Management analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
