The global cloud billing market is expected to be valued at USD 8.84 billion by 2027, according to the latest report by Emergen Research. This growth is attributable to the increasing need for creating a more cost-efficient environment in the IT sector by reducing cost of resources. The adoption of billing services is growing for its benefits, such as improving transparency and virtualization of workplaces to enhance its flexibility. Additionally, demand for solutions for simplifying work operations, coupled with enhancing performances of employees are driving the growth of the global cloud billing market.
In addition, various factors, such as the need for improving procedures for keeping records faster and increasing popularity of platforms for accessing information in real time is driving the growth of the global cloud billing market. Furthermore, other factors, such as increasing inclination toward service-oriented culture, consumer-oriented services, and focus on fulfilling functional and non-functional requirements, are fueling the demand for the product. The abovementioned factors are driving the growth of the global cloud billing market.
The demand for real-time billing and improving customer relationship maintenance are providing numerous opportunities and would continue to do the same over the forecast period. However, constantly changing technologies and swiftly changing time-consuming processes are restraining growth of the global cloud billing market.
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Key Highlights from the Report
- Cloud-based infrastructure and software sub-segment is holding substantial share as they can be deployed on-premises or cloud themselves. This segment is estimated to contribute more in the overall revenue of the cloud billing market.
- Based on deployment type, the public cloud sub-segment is estimated to dominate the market and remain dominant in the coming years. This growth is attributable to a multi-tenant platform with millions of users. Large public clouds have complicated billing models.
- Based on service model, the Infrastructure as a Service (IaaS) sub-segment is estimated to hold substantial share in the revenue of cloud billing market. This growth is attributable to increasing adoption of rapid computing infrastructure and demand for online managed and provisioned services.
- Based on organization size, the SMEs sub-segment is estimated to hold substantial share in the overall revenue of market. This growth is attributable to the rising need for low marketing budget coupled with often lack the resources for transition to cloud-based services.
- By vertical, the telecommunication sub-segment is estimated to remain dominant in terms of revenue of the market for cloud billing. This growth is attributable to the increasing number of subscribers and the advent of 5G. The telecommunication sector is lucratively tapping opportunities for digital transformation at a rapid pace, which is driving segmental growth.
- Regionally, the Asia Pacific region is estimated to witness growth with faster growth rate due to the booming adoption of cost-effective technologies. The small and medium-sized enterprises along with large enterprises are increasingly looking for solutions with high scalability, which is expected to fuel the regional growth of the market.
- Key players in the cloud billing market include Oracle, SAP, Aria Systems, Cerillion, Recurly, ConnectWise, Zuora, Salesforce, AppDirect, and Chargify.
For the purpose of this report, Emergen Research has segmented the Global Cloud Billing Market on the basis of component, billing type, deployment type, service model, organization size, vertical, and region:
- Component Outlook (Revenue, USD Billion; 2017-2027)
- Billing Type Outlook (Revenue, USD Billion; 2017-2027)
- Deployment Type Outlook (Revenue, USD Billion; 2017-2027)
- Service Model Outlook (Revenue, USD Billion; 2017-2027)
- Organization Size Outlook (Revenue, USD Billion; 2017-2027)
- Large Enterprises
- Small and Medium-Sized Enterprise
- Vertical Outlook (Revenue, USD Billion; 2017-2027)
- Consumer Goods and Retail
- Media & Entertainment
- Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- Rest of MEA
- North America
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