Cloud Billing Global Market Overview:
Cloud billing is process of generating bills by the help of predefined billing policies. The main purpose of cloud billing is to provide an interface to the personnel of an organization to generate bills by access of all the facilities available virtually. As the organizations are growing and management of bills becomes hectic job, cloud billing system is an effective alternative to it. According to a recent study report published by the Market Research Future, The global market of Cloud Billing is booming and expected to gain prominence over the forecast period. The market is projected to demonstrate a spectacular growth by 2022, surpassing its previous growth records in terms of value with a striking CAGR during the anticipated period (2016 – 2022).
The factors such as the increasing adoption of cloud services across numerous industry verticals, and the requirement of efficient and transparent mechanism for cloud billing has increased. Cloud service providers offer dynamic services, in addition to the fluctuating requirement of the cloud users. This leads to the complexities in billing modules. Companies have now realized the effect of having a cost-effective and custom build billing technique on the customer experience. Cloud billing not only helps in monetizing the cloud services but manages a large volume of data in real time by automating the billing process. The billing expertise helps the organizations to better focus on core business areas and enhance their performance.
Other aspects such as the advancement in cloud technology has increased the customer base significantly in the billing market and raised the demand for cloud billing. Various types of cloud service billing such as SaaS-based services are becoming more popular due to its capability to offer easy customization and innovative functionality.
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Major Key Players:
Zuora Inc. (U.S.), Amdocs (U.S.), Oracle (U.S.), Amazon Web Services, Inc. (U.S.), IBM (U.S.), NEC Corporation (Japan), Computer Sciences Corporation (CSC) (U.S.), SAP SE (Germany), Aria System, Inc (U.S.)., CGI Group, Inc. (Canada) are some of the prominent players at the forefront of competition in the Global Cloud Billing (FPGA) Market and are profiled in MRFR Analysis.
28 February 2012 – Amdocs a prominent company in Cloud Billing Market, is the leading provider of customer experience systems, today announced the launch of Amdocs Mobile Payments. The new solution is a cloud-based gateway, enabling mobile operators to quickly, securely and cost-effectively scale their mobile payments business for both prepaid and postpaid customers to open new revenue streams. Mobile payments that are charged via the carrier offer consumers the convenience of charging purchases directly to their mobile phone bill, prepaid balance or mobile wallet.
Jul 26, 2017 – Oracle a major player in cloud billing market has announced Oracle Monetization Cloud. The new cloud service accelerates time to market for digital and subscription-based products and services by enabling the full life cycle of customer on-boarding, offer creation, robust rating and discounting, billing, customized invoicing and reporting.
01 Nov 2017 – IBM announced a new IBM Cloud Private Software platform to help companies unlock billions of dollars in technology investment in core data and applications and extend cloud-native tools across public and private clouds. IBM (NYSE: IBM) today announced a new IBM Cloud Private Software platform to help companies unlock billions of dollars in technology investment in core data and applications and extend cloud-native tools across public and private clouds.
Cloud Billing Global Market Competitive Analysis:
The market of Cloud Billing Market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms.
Cloud Billing Global Market – Segmentation
The Cloud Billing Market can be classified into 5 key segments for the convenience of the report and enhanced understanding;
Segmentation by Type: Comprises subscription billing, metered billing, cloud service billing provisioning and others.
Segmentation by Provider: Comprises cloud service provider, telecom and communication service provider and managed service provider.
Segmentation by Application: Comprises account management, revenue management, customer management and others
Segmentation by Vertical: Comprises BFSI, IT & telecommunications, retail, healthcare and life sciences, manufacturing, public sector and utilities, education, media and entertainment and others.
Segmentation by Regions: Comprises Geographical regions – North America, Europe, APAC and Rest of the World.
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Cloud Billing Global Market – Regional Analysis
The cloud billing market is divided into four regions, namely North America, Asia Pacific Europe and the Middle East and Africa (MEA). North America market is expected to hold the largest market share in 2016 while APAC would be the fastest growing in terms of CAGR. Owing to mandatory government regulations, increasing need to focus on customer relationship management, high adoption of cloud-based solution by enterprises are the major factors supporting the growth of cloud billing market in the Asia Pacific market.
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