Cloud Billing Market is projected to witness a compound annual growth rate of 26.14% to reach the total market size of US$15.182 billion in 2021, from US$3.768 billion in 2015. Cloud billing solutions enable generation of bills from the resource usage data, using a set of predefined billing policies. Adoption of Cloud Billing is accompanied by a number of advantages, such as enhanced performance, higher transparency in billing and charging processes, flexibility, virtualized workplaces and simplified operations. Some of the key factors driving the growth of this market are increasing demand for billing operations, need to lower capital and operating expenditure, centralized and convergent billing solutions. Other factors include increased adoption of cloud technology by Small and Medium Enterprises, increasing use of subscription-based billing and pay-per-use model. As companies are working on improving customer experience and focusing on customer retention, Cloud billing market is expected to grow significantly during the forecasted period. However, the transition from on-premises to cloud-based billing, dynamic technology and lack of awareness are few factors hindering the Cloud Billing Market growth. Americas region is expected to dominate the global cloud billing market with dominant market share, whereas the Asia-Pacific (APAC) region is expected to exhibit the highest growth rate over the next six years.
Firstly, the report provides a brief introduction of the market and deals with detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segmentations which have been covered as part of the report.
Next, the section provides comprehensive market dynamics through an overview section along with growth drivers, challenges, and opportunities which exist in the current market. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth and a brief technological aspect of Cloud Billing. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.
Thirdly, Cloud Billing Market has been segmented on the basis of application, provider, organization size, industry vertical and geography as follows:
By Organization Size
By Industry Vertical
Energy and Power
Media and Entertainment
Communication and Technology
Europe Middle East and Africa
The Middle East and Africa
Finally, competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Amazon Web Services, Computer Sciences Corporation (CSC), International Business Machines Corporation, NEC Corporation and Oracle Corporation among others.