Revenue Management Market - Overview
Revenue
management, also called yield management, refers to a form of disciplined
analytics that allows capacity-constrained industries to optimize product
availability and profitability by predicting consumer behavior and allocating
the right product to the right consumer at the right time and price. Concepts
of revenue management can be applied to virtually all industries that have
products or services which can be sold in advance, have inconsistent patterns
of demand, are capacity constrained, and service at low marginal service
charges. Understanding the consumers’ perception of the value of a service or a
product and modifying their availability and prices to earn the maximum profit
forms the core of revenue management practices.
Some
industries that are ripe for the application of revenue management principles
are airlines, hotels, car rentals, freight transportation, television
broadcast, advertising, web conferencing, theaters, healthcare,
telecommunications, manufacturing, and retail. The report analyzes the global
revenue management market based on the application of revenue management systems
in some of these key end-user industries.
The
report also presents a detailed analysis of key revenue management solutions in
the market, including pricing and revenue forecast management, risk management,
data management, revenue leakage detection, and channel revenue management.
On the
basis of mode of deployment of revenue management systems, the market has been
examined for on-premise and hosted services.
The
report presents detailed quantitative and qualitative data of the key market
segments, from the global as well as regional standpoint. The data has been
gathered using standard primary and secondary research mechanisms and narrowed
down with the help of a number of industry-based analytical methods.
Revenue Management Market: Growth Drivers, Challenges, and
Opportunities
Rising
awareness of the direct impact of revenue management systems on overall
revenues of organizations of all sizes, and the flourishing telecommunications,
tourism, manufacturing, and airlines industries in developing countries in Asia
Pacific, are chief drivers of the global revenue management market. An
increased rate of utilization of a variety of revenue management systems in
several small- and mid-sized organizations, owing to the reduction in prices of
products and services, and the flexibility allowed by cloud hosting platforms,
will help the market witness exponential growth across the globe over the
report’s forecast period. The cloud is expected to be the most popular mode of
deployment in the global revenue management market over the report’s forecast
period.
Revenue Management Market: Regional Scenario
The
report examines the global revenue management market for regional markets such
as North America, Asia Pacific, Europe, and Rest of the World (RoW). Over the
report’s forecast period, North America is projected to be the dominant regional
market for revenue management, on account of heightened demand from companies
in service industries that are looking to increase revenues and profitability
in the extremely competitive environment.
Nevertheless,
the global revenue management market will earn a major share of its revenues
from Asia Pacific over the report’s forecast period, where small- and mid-sized
companies in the services industry will switch to technologically advanced
revenue management systems to benefit from a heightened demand for a variety of
services. Industries such as aviation, healthcare, hospitality, and tourism
will offer the most lucrative growth opportunities in the market. Also, highly
flexible and economic cloud hosted solutions will be a hit in the price-sensitive
Asia Pacific revenue management market over the report’s forecast period.
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