According to FMI, the global cloud billing industry will grow at a 15.2 percent compound annual growth rate (CAGR) from USD 3.5 billion in 2021 to USD 7.10 billion by 2026.
The growing number of cloud billing subscribers is one of the strong drivers pushing cloud billing tools and service adoption across regions. Increasing international student mobility, as well as increased government efforts and funding, are expected to benefit cloud billing providers.
The epidemic has benefited the cloud billing industry. As organizations change their budgets and tastes to survive the COVID-19 epidemic, cloud billing systems, particularly usage-based pricing, have gained popularity.
In addition, businesses all over the world are expanding their investments in cloud billing systems to keep their operations running. Governments are putting in place initiatives to help businesses cope with the pandemic, with a particular focus on small and medium-sized businesses (SMEs).
