Global Cloud Billing Services Market 2015-2019 - Demand for Enhanced Billing Operations with Amdocs, CGI Group, Computer Science & Oracle Dominating

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Apr 08, 2015, 06:22 ET

DUBLIN, Apr. 07, 2015 /PRNewswire/ --Research and Markets

(http://www.researchandmarkets.com/research/w3dq62/global_cloud) has announced the addition of the "Global Cloud Billing Services Market 2015-2019" report to their offering.

The analysts forecast the Global Cloud Billing Services market to grow at a CAGR of 27.61% over the period 2014-2019.

The cloud billing services caters to both functional and non-functional requirements. The functional requirements include policies, payment schedules, user IDs, and conversion functions. The non-functional requirements include security, scalability, and standards.

One key trend emerging in this market is the outsourcing of telecom billing services by small and medium enterprises. The Billing industry is vast and vendors offer customized solutions for different sectors. However, most solutions are expensive and require professionals to handle them. This is encouraging vendors to outsource these services and focus on their core competency.

According to the report, one of the key drivers of the market's growth is the high demand for improved billing operations. Cloud-based billing services improve billing operations by describing the pattern of purchasing, thus enhancing customer experience. Also, the growing need to streamline the billing process and to make it easy for operators to understand and track data requires the implementation of cloud-based billing services.

Further, the report states that with advances in technology and growing volumes of structured and unstructured data, there has been a rise in data security issues. These data include the personal data of customers, which need to be protected from third parties.

This report covers the present scenario and the growth prospects of the Global Cloud Billing Services market for the period 2015-2019. To calculate the market size, the report considers revenue generated from sales of cloud billing services including subscription and update charges.

Moreover, the revenue includes: