As per IndustryARC Estimates, APAC will be the Fastest Growing Region for Cloud Billing Market during 2016-2022
Asia-Pacific region which include China, India, Japan, South Korea and other countries are projected to witness high growth rate in cloud billing market
during 2016-2022. The growth is primary attributed because of the emergence of IOT which has been opening new avenues of business streams that further enabling a shift in designing new practices for numerous applications in diverse industry verticals. These applications are centered on real-time monitoring activities and decision making capabilities along with access to web-based data, thus creating huge potential for cloud billing market in near future.
As per the IndustryARC estimates, the Asia-Pacific region accounted a market share of 23% in the year 2015 and this region is estimated to grow significantly over the forecast period. Additionally, there is also a significant rise in the number of investments especially in developing economies such as Brazil, India, China and others have been presenting enormous opportunities for deployment of cloud billing services especially for retail applications. In 2015, Tencent, a Chinese internet company attracted investment of approximately $1.5 billion for next five year to augment its cloud service business.
Regardless of different challenges with infrastructure, security and trade policy, some of the countries in this region that include India, Philippines, and South Korea remains a top market for U.S. cloud service exporters. This is primarily due to increasing number of consumers with internet access owing to the rising demand from both private and government organizations with regards to cloud billing services which further fuels the growth in the market. The Asia Cloud Computing Association (ACCA) opted Japan as the prominent cloud service market as it has encouraged the public and private sector collaboration on processing government documents including online applications which inspires the public to use mobile devices for accessing government functions. Hence, there is ample of opportunity for cloud service providers to strengthen their business in Asia-Pacific region.
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