Cloud billing is a technique of generating bills for the clients based on the resource usage data and policy. The global cloud billing Market is estimated to be $3.9 billion in 2017 and is estimated to surpass $9.3billion mark by growing at a CAGR of 19.07% during 2018-2023. Metered billing holds the largest market share and generated revenue of $1.2billion in 2017 and is estimated to surpass $3.1 billion by growing at a CAGR of 20.22% during 2018-2023. By region Americas holds the largest market share with 35%.
What is Cloud Billing?
Cloud billing refers to the process of generating bills from the resource usage data catering its application in revenue management and customer management. This type of billing are set of predefined billing policies and can leverage both recurring and usage-based revenue models. Cloud based billing solutions manage the difficulty associated with the delivery of digital and non-digital services, and provide robust support for integration.
What are the major applications for Cloud Billing?
Cloud-based billing software provides high service availability, supports an unlimited number of transactions, safeguards your customers' data, and seamlessly connects with your infrastructure and business applications (including ERP cloud services), to meet the demands of your growing business.
Cloud billing supports basic requirements and provides many key advantages which include an enhanced customer experience. ability to monetize your assets and services in new way, Accelerated go-to-market for products and services, The elimination of patches and upgrades.
The major end-users for clod billing include retail, education, public sectors, banking & financial services, health-care, manufacturing, media & entertainment, telecommunication and others.
Market Research and Market Trends of Cloud Billing
- Companies such as Amazon now offer per second pricing, and IoT continues to play a role in developing predictable and new revenue streams in industries such as automotive and medical all of which makes offers and transactions more intricate.
- Companies are quickly configuring the broad variety of monetization models that are changing the operations dynamic so billing operations help drive the growth of a business.
- Ingram Micro which is into supply chain and global technology services has entered into an agreement to acquire Ensim, which is a provider of provisioning and management technology for cloud-based application. Ensim provides a complete solution for storefront, recurring billing, ticketing, service catalog, subscription management, and others.
- Telinta which is into cloud based billing services launches a new solution enabling Voice over internet protocol service that can easily charge per minute fee and per channel fee, charge monthly fee, offer volume discounts, special promotions, prepaid & postpaid services etc.
Who are the Major Players in Cloud Billing market?
The companies referred in the market research report includes Microsoft, Salesforce, Skytap, HP, IBM, Amazon and Google.
What is our report scope?
The report incorporates in-depth assessment of the competitive landscape, product market sizing, product benchmarking, market trends, product developments, financial analysis, strategic analysis and so on to gauge the impact forces and potential opportunities of the market. Apart from this the report also includes a study of major developments in the market such as product launches, agreements, acquisitions, collaborations, mergers and so on to comprehend the prevailing market dynamics at present and its impact during the forecast period 2018-2023.
All our reports are customizable to your company needs to a certain extent, we do provide 20 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.
Key Takeaways from this Report
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