DALLAS, July 28, 2015 /PRNewswire/ --
According to a new market report, "Cloud Billing Market by Type (Embedded, Subscription, Metered, Convergent, Cloud Service Billing, Professional Services, and others), Service Provider (Cloud, Communication and Network Operator, and MSP) - Global Forecast (2015 - 2020)", published by MarketsandMarkets, The Cloud Billing Market is expected to grow from USD 4,550.0 Million in 2015 to USD 14,600.0 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 26.3%.
Browse 67 market data Tables and 44 Figures spread through 155 Pages and in-depth TOC on "Cloud Billing Market"
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The market report defines and segments the Cloud Billing Market into various sub-segments with an in-depth analysis and estimation of market size. It also identifies the drivers and restraints for this market with insights on trends, opportunities, and challenges
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The adoption of cloud billing solutions is proliferating as businesses move to the cloud. With increase in the adoption of the pay-as-you-use pricing model, tracking the usage of allocated resources and providing real-time view of an account's resource consumption is necessary to enhance customer experience and to avoid revenue leakages. The cloud billing solutions bring flexibility and scalability to comply with the changing needs of billing. The billing services on cloud provide organizations with several advantages, including increased transparency in the charging and billing processes, virtualized workplaces, flexibility to upscale with increase in the number of customers, and simplified operations, along with accelerated performance.
MarketsandMarkets has broadly segmented the Cloud Billing Market by type: embedded billing, subscription billing, metered billing, convergent billing, cloud service billing, professional services, and others; by vertical: Banking, Financial Services, and Insurance (BFSI), retail & wholesale, healthcare, public services & utilities, telecommunication & Information Technology (IT), media & entertainment, transportation & logistics, and others; and by region: North America, Europe, Latin America, Asia-Pacific (APAC), and the Middle East and Africa (MEA).
MarketsandMarkets believes that time consumption and ongoing maintenance are the major constraints in the Cloud Billing Market. These limitations carry a significant potential for hampering the adoption rate of cloud billing in various Small and Medium Businesses (SMBs) across a wide range of verticals.
The Cloud Billing Market is expected to grow from USD 4,550.0 Million in 2015 to USD 14,600.0 Million by 2020, at a Compound Annual Growth Rate (CAGR) of 26.3%. In regional segmentation, North America is expected to be the largest market in terms of market size while Asia-Pacific (APAC), Latin America, and the Middle East and Africa (MEA) are expected to emerge rapidly in this market at high CAGRs.
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