Cloud Billing - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Cloud Billing Market is accounted for $2.55 billion in 2019 and is expected to reach $9.39 billion by 2027 growing at a CAGR of 17.7% during the forecast period. Increasing revenue leakages across industries, emergence of real-time billing, and need for lower operating expense (OPEX) and capital expenditures (CAPEX) are the major factors propelling the market growth. However, factors such as varying structure of regulatory policies and high initial costs of investment, installation, and maintenance are hampering the market growth.
Cloud billing is a process in which bills are generated using resource data with predefined billing policies. Cloud billing provides an interface to generate bills. Cloud billing enables the seller with different functionalities such as conversion function, customer identification, and others. Moreover, the cloud billing offers various benefits such as low investment, service availability, secured service, higher scalability, and others. With the ease in the deployment of cloud billing, the market is flourishing at a rapid pace.
Based on deployment type, the private cloud segment is going to have a lucrative growth during the forecast period owing to due to its security and control benefits. The private cloud deployment model enables a company to have better control over its data and reduce risks, such as data loss and issues related to regulatory compliance. The private cloud is used in banking and financial institutions, large enterprises, and government organizations, where only authorized users can access the system.
By geography, Asia Pacific is going to have a lucrative growth during the forecast period due to the increasing investments in cloud-based technology from China, India, and other emerging economies to save costs and make business process efficient. Additionally, the growing implementation of cloud billing among small scale organizations and increasing awareness benefits associated with cloud-based billing solutions in the region will supplement the market growth in this region during the forecast period.
Some of the key players profiled in the Cloud Billing Market include AppDirect, Amazon Web Services (AWS), Aria System, Cerillion, CGI, Chargebee, Chargify, Cloud Assert, ConnectWise, Jamcracker, Oracle, Recurly, Salesforce, SAP, Zoho, and Zuora.
Service Models Covered:
• Infrastructure as a Service (IaaS)
• Platform as a Service (PaaS)
• Software as a Service (SaaS)
Organization Sizes Covered:
• Large Enterprises
• Small and Medium-sized Enterprises (SMEs)
Billing Types Covered:
• Cloud Service Billing
• Convergent Billing
• Metered Billing
• Usage Based
Deployment Types Covered:
• Private Cloud
• Public Cloud
• Hybrid Cloud
• Account Management
• Customer Management
• Revenue Management
End Users Covered:
• Banking, Financial Services and Insurance (BFSI)
• Consumer Goods & Retail
• Healthcare and Life Sciences
• Information Technology (IT)
• Media & Entertainment
• Public Sector and Utilities
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
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