Cloud Billing Market – Global Industry Analysis and Forecast 2023 – 2029

Cloud Billing Market was valued at US$ 10.88 Bn. in 2022 and is expected to reach US$ 26.57 Bn. by 2029, at a CAGR of 13.6% during a forecast period.
Cloud Billing Market Overview:
The growing number of cloud billing applications has emerged as one of the most powerful reasons driving the adoption of cloud billing tools and services across geographies. Growing international mobility, as well as increased government efforts and financing, are likely to offer several possibilities for cloud billing companies.

Companies are continuously attempting to reduce their capital expenditures and operational costs. Because of the current competitive environment and global economic crisis, the adoption of cost-effective strategies for restructuring existing business models has increased. With its cost-saving and improved business agility benefits for all organizational sizes, emerging cloud technology is gaining significant market momentum throughout the world.

The cloud enables businesses to simplify their billing procedures, ultimately improving the entire customer experience. The use of cloud billing solutions has financial benefits for any organization since it significantly decreases the IT resources and infrastructure necessary due to the lack of integration and expensive hardware, as well as the danger of vendor lock-in for billing operations. Because they replace human procedures, these billing solutions result in cheap capital and operational expenses.

The Cloud Billing Market is segmented based on Type, Provider, Application, Organization Size Industry Verticals, and Region. The growth of various segments helps our clients in acquiring knowledge of the many growth factors expected to be prevalent throughout the market and develop different strategies to help identify core application areas and the gap in the target market. The report provides an in-depth analysis of the market and contains meaningful insights, facts, historical data, and statistically supported and industry-validated market statistics. It also includes estimates based on an appropriate set of assumptions and methodologies.To know about the Research Methodology :- Request Free Sample Report
Cloud Billing Market Dynamics:
To achieve a competitive advantage in the industry, corporate organizations are seeking for cost-effective solutions to improve their operations. Cloud billing solutions are cost-effective since they help to reduce the cost of resources and IT infrastructure, which drives the need for cloud billing systems. The cloud billing system also provides additional benefits such as the ability to scale up as the number of clients grows, streamlined operations with quicker performance, transparency in billing and charging procedures, and virtualized workplaces. Because of the flexibility, it is helpful in the cloud billing systems, opportunities across several sectors have increased, and fueling the need for the cloud billing system. Cloud services must be properly established in order to maintain market competition and avoid revenue leakage.

The numerous simple ways to capture the cost of the cloud services case with ongoing billing for license and usage-based accounts, which is helpful for a high level of operational efficiency. The key problems of manual billing, such as time-wasting and risk, are the primary drivers that force enterprises to have cloud billing solutions, as these reports provide detailed visuals and insights into cloud services. Cloud billing solutions enable businesses to grow swiftly and increase product line income.

There are lots of advantages to using cloud billing solutions and there are numerous drawbacks related to pricing and overhead. The licensing component of these technologies is costly, and many customers claim fewer licenses than are required to keep costs under control. The billing system for better IT infrastructure and dependable connections is quite powerful and the enterprises in poor nations confront severe connectivity and IT infrastructure challenges. The solutions process critical company data, there is a growing necessity for regular and control of the system to maintain high reliability. The enormous cost of installation and other activities is expected to pose a barrier to suppliers participating in the global cloud billing market.
Cloud Billing Market segment analysis:
Based on type, the cloud service billing market held the largest market share of xx% in 2022. As the demand for cloud billing has risen and cloud technology has advanced, the billing market's customer base has grown dramatically. Additionally, demand for cloud service billing is increasing, owing to its properties like it is helpful for improving operational efficiency, reducing operational costs, and boost in sales and revenue.

Based on the provider, cloud service provider held the largest market share of xx% in 2022, owing to its properties like it’s a cost saving system, it gives fast response time, and this service provides better control over service level which gives high performance and maintenance. The cloud service provider is an organization that helps to host the services like software, networking, infrastructure, and more. The client organization are managing all the transactions and it is responsible for setting their infrastructure and managing them.

Based on industry Verticals, the media and entertainment sub-segment held the largest market share of xx% in 2020, owing to the increasing need for the adoption of the digital channel. Additionally, it is helpful for improving customer’s intimacy, improving operational efficiency, it allows viewers to interact, engage, and respond to the content immediately. The new options and feedbacks in this segment are giving a significant impact on the production process in the entertainment and media industry.
Cloud Billing Market Regional Insight:
Asia Pacific region held the largest market share of xx% in 2022. The frequency of these services in small and medium-sized businesses. Benefits like scalability and cost are expected to play a significant role in the global growth of these solutions. The necessity of focusing on customer relationship management, government-mandated regulations, and the increasing use of cloud-based solutions are factors driving market growth in the Asia-Pacific region.

North America is the second dominant region and it held xx% of the share in 2022. The availability of many solution providers contributes to the region's progress. 80 % of North American businesses employ a difficult cloud deployment architecture, which includes 51% of hybrid and 21 % of multi-cloud strategies. The increasing implementation of cloud-based technology, together with a superior entry for client demand, drives the growth of the cloud billing market in the region. The cloud billing market in the United States is expected to grow at a rapid pace as economic development and significant infrastructural investments result in revenue growth across the area.

Recent developments:

SAP Subscription Billing will include cloud billing in September 2022. It is an innovative technology with a range of capabilities such as sending alerts before and after an allowance expires, determining prices for allowances, completing delayed subscriptions, and setting apart cancellation notice dates.

Aria Marketplace Suite, a process that is an extension of the Aria billing and monetization platform, was announced in July 2020, allowing B2B and B2C marketplace suppliers to disseminate their operations more profoundly. Aria Marketplace Suite provides products and revenue management tools for marketplace operations, resulting in improved client interactions.

The objective of the report is to present a comprehensive analysis of the Cloud Billing market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the Cloud Billing market dynamics, structure by analyzing the market segments and projects the Cloud Billing market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Cloud Billing market make the report investor’s guide.
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Cloud Billing Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 10.88 Bn.


Forecast Period 2023 to 2029 CAGR:
13.6%
Market Size in 2029:
US $ 26.57 Bn.


 Segments Covered:
by Type
Subscription Billing
Metered Billing
Cloud Service Billing
Provisioning
Others


by  Provider
Cloud Service Provider
Telecom and Communication Service Provider
Managed Service Provider


by Application
Account Management
Revenue Management
Customer Management
Others


by Organization Size
Small and Medium Enterprise (SME)
Large enterprise


by Industry Verticals
BFSI
Telecommunications & ITES
Retail
Healthcare and life sciences
Manufacturing
Public sector and Utilities
Education
Media and Entertainment
Others



Cloud Billing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Cloud Billing Market, Key Players are
1.Zuora Inc.
2. Computer Sciences Corporation
3. NEC Corporation
4. Amazon Web Services, Inc.
5. International Business Machines Corporation
6. CGI Group Inc
7. Amdocs Inc
8. Oracle Corporation
9. Chargebee
10. Aria Systems, Inc.
11. Talligent
12. Cloudability
13. Utilibill
14. SAP SE
15. Ericsson
16. Netcracker Technology
17. Huawei Technologies
18. Cerillion PLC
19. Tech Mahindra Limited
20. Redknee Solutions Inc.
21. Asiainfo, Inc.

Frequently Asked Questions:

1. Which region has the largest share in Cloud Billing Market?
Ans: Asia pacific region holds the highest share in 2022.

2. What is the growth rate of Cloud Billing Market?
Ans: The Cloud Billing Market is growing at a CAGR of 13.6 % during forecasting period 2023-2029.

3. What segments are covered in Cloud Billing market?
Ans: Cloud Billing Market is segmented into type, provider, application, organization size, industry verticals and region.

4. Who are the key players in Cloud Billing market?
Ans: The important key players in the Cloud Billing Market are – ZuoraInc., Computer Sciences Corporation, NEC Corporation, Amazon Web Services, Inc., International Business Machines Corporation, CGI Group Inc, Amdocs Inc, Oracle Corporation, Chargebee, Aria Systems, Inc., Talligent, Cloudability, Utilibill, SAP SE, Ericsson, Netcracker Technology, Huawei Technologies.

5. What is the study period of this market?
Ans: The Cloud Billing Market is studied from 2022 to 2029.