Middle East & Africa Revenue Assurance for BFSI Market Forecast to 2031 - Regional Analysis - by Component (Solution and Services), Deployment (Cloud and On-Premise), and Organization Size (Large Enterprises and SMEs)

Description

List of Tables

The Middle East & Africa revenue assurance for BFSI market was valued at US$ 24.64 million in 2023 and is expected to reach US$ 48.59 million by 2031; it is estimated to register a CAGR of 8.9% from 2023 to 2031.

Integration of Artificial Intelligence and Machine Learning Fuels Middle East & Africa Revenue Assurance for BFSI Market

Enterprises face an increasingly complicated data landscape, filled with ever-changing applications, data sources, data types, and data quantities, posing a significant data and technological burden on company operations.

With the proliferation of 5G and IoT, the complexity of this landscape has grown even more, particularly in advanced applications such as digital payments and e-wallet services. The complexity, combined with the increasing influx of customer-generated data, poses a significant challenge to revenue assurance and fraud management measures. Fundamentally, revenue assurance and fraud management are dependent on effective monitoring, highlighting the need to gather, connect, and evaluate data as the foundation of operational efficiency. Machine learning (ML) and artificial intelligence (AI) provide a potent solution to this problem, resulting in linked, automated, or semi-automated solutions that are effective in a complex and data-rich operating environment.

The modern banking sector is driven by rapid digitalization. Data is constantly generated from online payments, premiums paid online, e-billings, and users using various payment gateways. This consumer-generated data is crucial for various applications and is an imperative asset for revenue assurance professionals. ML and AI solutions can capture that data in systems that provide safe, secure, and automated risk management, assisting human professionals in optimizing revenue and fraud operations.

Middle East & Africa Revenue Assurance for BFSI Market Overview

As per the data from the Global Findex Database by the World Bank, slightly more than half of the population aged 15 and above in the Middle East and North Africa had a financial institution account in 2021, while only 40% reported having one in sub-Saharan Africa. Both these figures are lower than the global average of 74%. However, there has been a notable increase in the adoption of digital financial services in these regions, particularly following the COVID-19 pandemic. The Global Findex data for 2021 indicates that 50% of the population aged 15 and above in sub-Saharan Africa and 45% in the Middle East and North Africa had engaged in digital payments, compared to 37% and 34%, respectively, in 2017. The increased adoption of digital financial services, particularly in sub-Saharan Africa, is likely to have a significant impact on the revenue assurance for BFSI market in this region. As more individuals engage in digital payments and utilize mobile money for financial transactions, there is a growing need for robust revenue assurance solutions to ensure the integrity and security of these digital financial services. This presents an opportunity for revenue assurance providers to offer innovative solutions tailored to the evolving landscape of digital financial services in these regions.

Middle East & Africa Revenue Assurance for BFSI Market Revenue and Forecast to 2031 (US$ Million)

Middle East & Africa Revenue Assurance for BFSI Market Segmentation

The Middle East & Africa revenue assurance for BFSI market is categorized into component, deployment, organization size, and country.

Based on component, the Middle East & Africa revenue assurance for BFSI market is bifurcated into solution and services. The solution segment held a larger market share in 2023.

Based on deployment, the Middle East & Africa revenue assurance for BFSI market is bifurcated into cloud and on-premise. The cloud segment held a larger market share in 2023.

Based on organization size, the Middle East & Africa revenue assurance for BFSI market is bifurcated into large enterprises and SMEs. The large enterprises segment held a larger market share in 2023.

By country, the Middle East & Africa revenue assurance for BFSI market is segmented into Saudi Arabia, South Africa, the UAE, and the Rest of Middle East & Africa. The Rest of Middle East & Africa dominated the Middle East & Africa revenue assurance for BFSI market share in 2023.

Oracle Corp, PROCEPT AFRICA, Subex Ltd, Sunoida Solutions DMCC, and SunTec Business Solutions are some of the leading companies operating in the Middle East & Africa revenue assurance for BFSI market.

Product Code: BMIRE00031043

1. Introduction

1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation

2. Executive Summary

2.1 Key Insights
2.2 Market Attractiveness

3. Research Methodology

3.1 Secondary Research
3.2 Primary Research
- 3.2.1 Hypothesis formulation:
- 3.2.2 Macro-economic factor analysis:
- 3.2.3 Developing base number:
- 3.2.4 Data Triangulation:
- 3.2.5 Country level data:

4. Middle East & Africa Revenue Assurance for BFSI Market Landscape

4.1 Overview
4.2 PEST Analysis
4.3 Ecosystem Analysis
- 4.3.1 Solution/Service Providers
- 4.3.2 System Integrators
- 4.3.3 End Users
- 4.3.4 List of Vendors in the Value Chain

5. Middle East & Africa Revenue Assurance for BFSI Market - Key Market Dynamics

5.1 Market Drivers
- 5.1.1 Increasing Need for Revenue Leakage Prevention in Complex Banking Environment
- 5.1.2 Growing Technological Adoption in Banking Sector
5.2 Market Restraints
- 5.2.1 Lack of Awareness and Understanding about Revenue Assurance
5.3 Market Opportunities
- 5.3.1 Benefits of Managed Service Approach in Revenue Assurance
5.4 Future Trends
- 5.4.1 Integration of Artificial Intelligence and Machine Learning
5.5 Impact of Drivers and Restraints:

6. Revenue Assurance for BFSI Market - Middle East & Africa Market Analysis

6.1 Middle East & Africa Revenue Assurance for BFSI Market Revenue (US$ Million), 2021-2031
6.2 Middle East & Africa Revenue Assurance for BFSI Market Forecast Analysis

7. Middle East & Africa Revenue Assurance for BFSI Market Analysis - by Component

7.1 Solution
- 7.1.1 Overview
- 7.1.2 Solution: Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
7.2 Services
- 7.2.1 Overview
- 7.2.2 Services: Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)

8. Middle East & Africa Revenue Assurance for BFSI Market Analysis - by Deployment

8.1 Cloud
- 8.1.1 Overview
- 8.1.2 Cloud: Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
8.2 On-Premise
- 8.2.1 Overview
- 8.2.2 On-Premise: Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)

9. Middle East & Africa Revenue Assurance for BFSI Market Analysis - by Organization Size

9.1 Large Enterprises
- 9.1.1 Overview
- 9.1.2 Large Enterprises: Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
9.2 SMEs
- 9.2.1 Overview
- 9.2.2 SMEs : Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)

10. Middle East & Africa Revenue Assurance for BFSI Market - Country Analysis

10.1 Middle East & Africa Revenue Assurance for BFSI Market Overview
- 10.1.1 Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.1 Middle East & Africa Revenue Assurance for BFSI Market - Revenue and Forecast Analysis - by Country
  - 10.1.1.2 Saudi Arabia: Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.2.1 Saudi Arabia: Revenue Assurance for BFSI Market Breakdown, by Component
    - 10.1.1.2.2 Saudi Arabia: Revenue Assurance for BFSI Market Breakdown, by Deployment
    - 10.1.1.2.3 Saudi Arabia: Revenue Assurance for BFSI Market Breakdown, by Organization Size
  - 10.1.1.3 United Arab Emirates: Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.3.1 United Arab Emirates: Revenue Assurance for BFSI Market Breakdown, by Component
    - 10.1.1.3.2 United Arab Emirates: Revenue Assurance for BFSI Market Breakdown, by Deployment
    - 10.1.1.3.3 United Arab Emirates: Revenue Assurance for BFSI Market Breakdown, by Organization Size
  - 10.1.1.4 South Africa: Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.4.1 South Africa: Revenue Assurance for BFSI Market Breakdown, by Component
    - 10.1.1.4.2 South Africa: Revenue Assurance for BFSI Market Breakdown, by Deployment
    - 10.1.1.4.3 South Africa: Revenue Assurance for BFSI Market Breakdown, by Organization Size
  - 10.1.1.5 Rest of Middle East & Africa: Revenue Assurance for BFSI Market - Revenue and Forecast to 2031 (US$ Million)
    - 10.1.1.5.1 Rest of Middle East & Africa: Revenue Assurance for BFSI Market Breakdown, by Component
    - 10.1.1.5.2 Rest of Middle East & Africa: Revenue Assurance for BFSI Market Breakdown, by Deployment
    - 10.1.1.5.3 Rest of Middle East & Africa: Revenue Assurance for BFSI Market Breakdown, by Organization Size

11. Competitive Landscape

11.1 Heat Map Analysis by Key Players
11.2 Company Positioning & Concentration

12. Industry Landscape

12.1 Overview
12.2 Market Initiative
12.3 Product News & Company News
12.4 Collaboration and Mergers & Acquisitions

13. Company Profiles

13.1 Sunoida Solutions DMCC
- 13.1.1 Key Facts
- 13.1.2 Business Description
- 13.1.3 Products and Services
- 13.1.4 Financial Overview
- 13.1.5 SWOT Analysis
13.2 PROCEPT AFRICA
- 13.2.1 Key Facts
- 13.2.2 Business Description
- 13.2.3 Products and Services
- 13.2.4 Financial Overview
- 13.2.5 SWOT Analysis
13.3 SunTec Business Solutions
- 13.3.1 Key Facts
- 13.3.2 Business Description
- 13.3.3 Products and Services
- 13.3.4 Financial Overview
- 13.3.5 SWOT Analysis
13.4 Oracle Corp
- 13.4.1 Key Facts
- 13.4.2 Business Description
- 13.4.3 Products and Services
- 13.4.4 Financial Overview
- 13.4.5 SWOT Analysis
13.5 Subex Ltd
- 13.5.1 Key Facts
- 13.5.2 Business Description
- 13.5.3 Products and Services
- 13.5.4 Financial Overview
- 13.5.5 SWOT Analysis

14. Appendix

14.1 About The Insight Partners
14.2 Word Index