Cloud Billing Market:
Growth opportunities in the cloud billing market look promising over the next six years. This is mainly due to the rising focus on improving customer relationship, an unlimited number of transaction support, security and data protection, and a rise in the adoption of virtualized workplaces.
Cloud Billing Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The surging acquisition of virtualized workplaces and the web-scale and cloud allowed network software solutions by corporations, increasing demand of convergent and centralized billing systems are the prominent factors driving the growth of the cloud billing market. Moreover, other features like the capability to accommodate fluctuations in prices quickly, immense support for transaction, exact calculation of user charges, less licensing and servicing costs, tracking of third-party billing, improved mobility, portability, and scalability, safety, and data security, and better customer relationships are strengthening the market growth. In accordance with the Software Alliance, a member of the International Intellectual Property Alliance, and BSA, the demand for cloud computing will expand by 60 percent by 2020, thereby giving huge growth opportunities to the market. However, the substantial initial expenditure concerned with investment, installation, and maintenance of these solutions will hamper the market growth. Additionally, the accelerating number of cyber threats and data breaches are further projected to curb the cloud billing market size.
Deployment Segment Drivers
Based on the deployment, the public cloud is predicted to witness a higher CAGR in the market over the forecast period. This is because of its benefits like less initial investment, easy establishment, and immediate accessibility over the internet, and no infrastructure maintenance.
Regional Drivers
Based on regional coverage, Asia Pacific is projected to expand at a faster CAGR during the forecast period. This is primarily attributed to the boost in demand for these solutions across the healthcare, retail, and telecommunication sectors. Moreover, As stated by the India Brand Equity Foundation (IBEF), e-commerce business in India is anticipated to reach US$ 99 billion by 2024, escalating at a CAGR of 27% over 2019. This will bolster the market growth.
Cloud Billing Market’s leading Manufacturers:
- Aria Systems, Inc.
- Recurly, Inc.
- com, Inc.
- Zuora Inc.
- SAP SE
- Jamcracker, Inc.
- BillingPlatform
- Oracle Corporation
- Telefonaktiebolaget LM Ericsson
- Microsoft Corporation
Cloud Billing Market Segmentation:
Segmentation by Deployment
- Public Cloud
- Private Cloud
- Hybrid Cloud
Segmentation by Component
- Platform
- Services
Segmentation by End-Use Industry
- Retail
- Power & Energy
- Healthcare
- Telecommunications
- BFSI
- Others
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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