The global cloud billing market is anticipated to witness tremendous growth over the specified period of time owing to virtualized workplaces and simplified operations. Increasing popularity of service-oriented culture and consumer-oriented services among organizations is expected to drive industry growth. Growing importance of transparency in charging process is expected to favor industry.
These solutions provide flexibility to up-scale with increase customer base. Benefits such as scalability and flexibility are anticipated to propel its demand tremendously. Additionally, low capital and operational expenses, enhanced process, convergence, and centralization are expected to boast revenue of the industry players.
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Benefit such as real time management of large amount of data is anticipated to propel the industry growth over the forecast period. These solutions eliminate over and under-charging by supporting granular billing, dynamic price plans, and sophisticated rating, by extending support for variable billable units.
Growing demand for improved billing operations is a key factor for the growth of the global cloud billing market. Cost effective solution is expected drive demand in small and medium businesses. Industry can be segmented based on verticals as retail, public sector and utilities, Banking & Financial Service & Insurance (BFSI), telecom, healthcare, IT and media, logistics and transportation.
It can also be segmented based on type as subscription, embedded, metered, cloud, and professional service. It can also be segmented on the basis of deployment models as private, public, and hybrid. Managed service providers, cloud service providers, and communication service providers & network operators are offering such solution.
Industry player may tap customer with merged or bundled service to cater to wide need of customers with single solution and enhance customer experience.
Asia Pacific is expected to be key region over the specified period of time owing to popularity of these services in small and medium business. Benefit such scalability and cost is expected to play a major role in growth of these solutions worldwide.
Key industry players include Aria Systems, Amazon Web Services (AWS), Blusynergy, Amdocs, Blueoss, CSC, Cerillion, and Cloudability, CGI Group. Other prominent vendors include Comverse, Chargebee, CSG International, Globetom, Comarch, Interworks, Monexa, IBM, Metratech, Oracle, Mphasis, SAP, NEC Corporation, Redknee, Talligent, Utilibill, and Zuora.
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