The cloud billing market is driven by factors such as increased adoption of cloud technology by Small and Medium Enterprises (SMEs) and the organization's inclination toward subscription-based billing and pay-per-use model.
Subscription billing is expected to have the largest market share during the forecast period. Cost efficiency for customers is the major advantage of the subscription billing as it charges customers based on the products and services they utilize. Moreover, its ability to predict the revenue of the business process helps companies to further plan their business has contributed to its popularity.
Account Management is expected to have the largest market share during the forecast period because the major part of account management include customer handling and managing their account. Cloud billing solutions and services help organizations maintain a better professional relationship with their customers and solve their issues. This advantage of cloud billing has led to its penetration in the account management area.
North America is expected to hold the largest market share in 2016 while APAC is the fastest maturing in terms of CAGR. APAC has a variety of billing systems and the importance of billing is much higher due to its diverse nature. This is one of the major factors supporting the growth of cloud billing in this region to avoid security issues and IT glitches. Moreover, at the same time, cloud emergence and mandatory government regulation is boosting the growth of cloud billing market in the APAC region.
The cloud billing market size is estimated to grow from USD 5.68 billion in 2016 to USD 16.59 billion by 2021, at an estimated CAGR of 23.9% from 2016 to 2021.
Amazon Web Services, Inc. (AWS)
Aria Systems, Inc.
CGI Group Inc.
Computer Sciences Corporation (CSC)
International Business Machines Corporation (IBM)
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Cloud Billing Market Overview
6 Cloud Billing Market: Industry Trends
7 Cloud Billing Market Analysis, By Type
8 Cloud Billing Market, By Application
9 Cloud Billing Market, By Provider
10 Cloud Billing Market, By Organization Size
11 Cloud Billing Market Analysis, By Industry Vertical