A prospect of scaling USD 20 billion valuation during the forecast period (2017-2023) with an astounding CAGR of 25% seems a possibility for the global cloud billing market predicts Market Research Future (MRFR). Cloud billing is about sourcing information from cloud with predefined billing policies to make the process of generating bills swifter and more efficient. Its benefits are lasting as they can lower the overall cost, increase scalability, and enhance service quality of organizations.
MRFR’s segmentation of the global cloud billing market primarily focuses on type, application, deployment, providers, organization size and end-users. The detailed analysis of segments would give a holistic view of the cloud billing market both in terms of volume-wise and value-wise growths.
Based on the type, the cloud billing market can be segmented by subscription billing, cloud service billing, metered billing, provisioning, and others. Recent innovations are ensuring prospects of the subscription billing segment for the coming years.
Based on the application, the cloud billing market can be segmented into account management, revenue management, customer management and others.
Based on the deployment, the cloud billing market includes public cloud, private cloud, and hybrid cloud. The public cloud segment is cost-effective owing to which better revenues can be generated from the segment.
MRFR in an all-encompassing report on the global cloud billing market included, namely, North America, Europe, Asia Pacific and rest of the world.
As of 2016, North America had the maximum market share and is expected to retain its global market prominence in the coming years as well. Major attributes such as technological edge, infrastructural benefits, and easy acceptance, along with digital integration are boosting the regional market. The U.S. is fetching the most amount of revenue.
Europe’s growth is mostly depending on its low cost of deployment solutions. Along with it, need for flexible and convenient billing are on the rise which is backing the market. The APAC region is expected to register the fastest growth rate during the forecast period. In countries such as Taiwan, India, and China, the adoption of cloud-based billing services is gaining mileage riding on benefits provided by government regulations and structural revamping.
Among the global cloud billing market titans and innovators, Amazon Web Services, Inc. (U.S.), Amdocs (U.S.), Oracle Corporation (U.S.), Zuora Inc. (U.S.), IBM Corporation (U.S.), NEC Corporation (Japan), SAP SE (Germany), Aria Systems, Inc. (U.S.), Cloudability (U.S.), Computer Sciences Corporation (CSC) (U.S.), CGI Group Inc. (Canada), Utilibill (Australia), Verizon Wireless (U.S.), Chargebee (U.S.), BMC Software (U.S.), Comverse Technology, Inc. (U.S.), CSG International (U.S.), Comarch (Poland), Globetom (South Africa), Interworks (U.S.), Redknee (Canada), Metratech (U.S.), Blusynergy (U.S.), and others.
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