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(MoneyNewsWire.Net, July 02, 2018 ) Global Cloud Billing Market is accounted for $8.13 billion in 2017 and is expected to reach $48.4 billion by 2026 growing at a CAGR of 21.9% during the forecast period. Increasing demand for centralized & convergent billing solutions, rising demand for cloud billing in developed regions, growing demand for the billing system which requires low operation cost and capital requirement are some key factors propelling the market growth. However, time consumption and continuously changing technologies are hampering the market growth.
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Cloud billing can be defined as the process of generating bills from the resource usage data with the help of predefined data sets and billing policies. Cloud billing offers low cost of ownership, ability to add new services emerging in the dynamic environment, set of connectors, device and independent access to billing information. The cloud billing system enables users to easily manage and retrieve data from various locations and, also helps in serving their customers in a better manner.
Based on type, cloud service billing segment is expected to grow at the significant market share during the forecast period owing to the advancements in cloud technology which in turn increases demand for cloud billing. In addition, amongst end user, media and entertainment segment is witnessing a potential growth in the market due to the rising in the adoption of digital channels.
By geography, North America formed one of the key regions contributing to the growth for this market. The growing implementation of cloud based technology along with better access to client demands has been some of the major reasons for the rising demand of this market in this region. Asia Pacific is expected to grow at the highest CAGR during the forecast period factors such as adoption of cloud-based billing services, supporting government regulations and growing economies of emerging countries like Taiwan, India, and China are promoting the growth in this region.
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Some of the key players profiled in the market include Zuora Inc., Computer Sciences Corporation (CSC), NEC Corporation, Amazon Web Services, Inc. (AWS), International Business Machines Corporation (IBM), CGI Group Inc, Amdocs Inc, Oracle Corporation, Chargebee, Aria Systems, Inc., Talligent, Cloudability, Utilibill, SAP SE, Ericsson , Netcracker Technology (NEC Corporation), Huawei Technologies , Cerillion PLC, Tech Mahindra Limited, Redknee Solutions Inc., Asiainfo, Inc.
Types Covered:
- Metered Billing
- Provisioning
- Subscription Billing
- Cloud Service Billing
- Other Types
Deployment Models Covered:
- Platform as A Service (PaaS)
- Software as A Service (SaaS)
- Infrastructure as A Service (IaaS)
Providers Covered:
- Telecom and Communication Service Providers
- Managed Service Providers
- Cloud Service Providers
Organization Sizes Covered:
- Large Enterprises
- Small and Medium Enterprises
Applications Covered:
- Revenue Management
- Account Management
- Customer Management
- Other Applications
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