Cloud Billing Market by Verticals (Banking & Financial Service & Insurance (BFSI), Retail, Public Sector and Utilities, Telecom, IT and Media, Healthcare, Transportation, and Logistics), Types (Embedded, Subscription, Convergent, Metered, Cloud Service, and Professional Service), Deployments (Public, Private, and Hybrid), Services (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)), Applications (Revenue Management, Customer Management, and Account Management) and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global cloud billing market is anticipated to expand at a robust CAGR during the forecast period, 2021 – 2028. The growth of the market is attributed to simplified operations and virtualized workplaces along with high performance.
Cloud billing is a blend of electronic billing and cloud computing. Most businesses prefer on-premises billing platform. Cloud billing is transforming the computer system by offering flexibility for billing and gathering data easily. These solutions assist in minimizing under & over-charging by supporting granular billing, sophisticated rating, dynamic price plans and variable billable units. Cloud billing software functions on remote servers and is available from any authorized computer.
Market Trends, Drivers, Restraints, and Opportunities:
- Rising number of businesses offering consumer-oriented services and opting for service-oriented culture are expected to fuel the market.
- Growing necessity for transparency in charging process is projected to drive the market.
- Rising number of customers along with flexibility is likely to boost the market.
- Need to cope up with the changing business environment is inducing majority of organizations to opt for cloud billing.
- Worldwide implementation of such services or solutions in both digital and non-digital verticals is anticipated to drive the market during the forecast period.
- Increasing demand for low capital, enhanced process, convergence & centralization, and operational expenses are projected to fuel the market.
- Factors such as real time management of huge data are estimated to boost the market.
- Rising demand for enhanced billing solutions is major factor driving the market.
- Cloud billing helps in tracking customer experience, analyze purchasing pattern, and streamlining the process, making it easy to understand for operators.
- High maintenance costs and time consumption are estimated to hamper the market growth.
- Rising data thefts and cyber-attacks are estimated to hinder the market growth.
Scope of the Report:
The report on the cloud billing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Global Cloud Billing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Verticals (Banking & Financial Service & Insurance (BFSI), Retail, Public Sector and Utilities, Telecom, IT and Media, Healthcare, Transportation, and Logistics), Types (Embedded, Subscription, Convergent, Metered, Cloud Service, and Professional Service), Deployments (Public, Private, and Hybrid), Services (Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS)), Applications (Revenue Management, Customer Management, and Account Management), and Regions |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Aria Systems, Amazon Web Services, CSC, Cerillion, Blusynergy, Amdocs, CGI Group, Blueoss, Cloudability, Csg International, Chargebee, Interworks, Metratech, Oracle, Redknee, Globetom, NEC Corporation, Zuora, Comverse, Talligent, Comarch, Utilibill, IBM, SAP, Monexa, and Mphasis |
Market Segment Insights:
The BFSI segment is expected to hold a major market share of the total revenue during the forecast period
Based on verticals, the global cloud billing market is segregated as banking & financial service & insurance (BFSI), retail, public sector and utilities, telecom, IT and media, healthcare, transportation, and logistics. The BFSI segment is projected to expand at a rapid pace during the forecast period. Rapid technological advancement and digitization are projected to drive the segment. It helps in reducing large capital expenditure by minimizing the need for investment in software & hardware coupled with staff to maintain it. Moreover, it helps banks and insurance companies to concentrate on customer functions. Additionally, it provides a whole data backup, making it reliable for use in BFSI. Data security is a major concern for the BFSI industry. The cloud keeps all the data secure from unauthorized access, which fuels the segment.
The healthcare segment is projected to expand at a high CAGR during the forecast period. Earlier the major concern was about keeping patient records safe and secure. Digital records are encrypted with password and therefore safe from any loss. If the computer crashes, the data is safe in the cloud. Cloud billing provides free access to data in remote locations via desktop computer or mobile devices. This is essential for organizations, , as it becomes easy to track claims from every patient in real time. With cloud billing, healthcare professionals can dedicate more time on patient care, getting paid, and submitting clean claims.
It is difficult for the telecom sector to maintain data, improve customer experience, and retain existing customers. Companies are focusing on reducing revenue loss. Cloud billing solutions may help telecom enterprises to integrate data usage with invoicing.
The public segment is projected to hold a large market share of the total revenue during the forecast period
On the basis of deployments, the global cloud billing market is fragmented as public, private, and hybrid. The public segment is estimated to expand at a rapid pace during the forecast period. Services provided by public deployment are either offered under subscription or free. Public model includes several resources such as storage, virtual servers, applications, and hardware through internet. It assists enterprises to fulfill their demands for scalability, ease of deployment, and provides pay per use pricing package. Cloud deployment helps enterprises to work efficiently. It generates bills and provides monthly, weekly, and daily performance reports.
Hybrid segment integrated with both private and public models is expected to expand at a robust CAGR during the forecast period. Hybrid deployment is expected to be the most preferred type of deployment model among industries, which is expected to drive the cloud industry.
The software as a service segment is projected to hold a major market share of the total revenue during the forecast period
In terms of services, the global cloud billing market is segregated as Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS). SaaS denotes a cloud-based solution of providing software to users. Users subscribe to the application instead of buying it. Users are able to access SaaS application from any mobile device over the internet. The main application functions in the cloud server, hence there is no need to install the software on each user’s device. It helps to minimize the cost of scales and deploys and upgrades business applications rapidly.
The market in Asia Pacific is likely to grow at a rapid pace during the forecast period
Based on regions, the global cloud billing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Growth of cloud billing solutions in Asia Pacific is attributed to large number of adoption by small and medium businesses. Cost & scalability are estimated to play a vital role in the purchase decision of the consumers during the forecast period.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Cloud Billing Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Cloud Billing Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Cloud Billing Market - Supply Chain
4.5. Global Cloud Billing Market Forecast
4.5.1. Cloud Billing Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Cloud Billing Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Cloud Billing Market Absolute $ Opportunity
5. Global Cloud Billing Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Cloud Billing Market Size and Volume Forecast by Types
5.3.1. Embedded
5.3.2. Subscription
5.3.3. Convergent
5.3.4. Metered
5.3.5. Cloud Service
5.3.6. Professional Service
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Cloud Billing Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Cloud Billing Market Size and Volume Forecast by Applications
6.3.1. Revenue Management
6.3.2. Customer Management
6.3.3. Account Management
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Cloud Billing Market Analysis and Forecast by Region
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by Region
7.2.2. Y-o-Y Growth Projections by Region
7.3. Cloud Billing Market Size and Volume Forecast by Region
7.3.1. North America
7.3.2. Latin America
7.3.3. Europe
7.3.4. Asia Pacific
7.3.5. Middle East and Africa (MEA)
7.4. Absolute $ Opportunity Assessment by Region
7.5. Market Attractiveness/Growth Potential Analysis by Region
7.6. Global Cloud Billing Demand Share Forecast, 2019-2026
8. North America Cloud Billing Market Analysis and Forecast
8.1. Introduction
8.1.1. Basis Point Share (BPS) Analysis by Country
8.1.2. Y-o-Y Growth Projections by Country
8.2. North America Cloud Billing Market Size and Volume Forecast by Country
8.2.1. U.S.
8.2.2. Canada
8.3. Absolute $ Opportunity Assessment by Country
8.4. North America Cloud Billing Market Size and Volume Forecast by Types
8.4.1. Embedded
8.4.2. Subscription
8.4.3. Convergent
8.4.4. Metered
8.4.5. Cloud Service
8.4.6. Professional Service
8.5. Basis Point Share (BPS) Analysis by Types
8.6. Y-o-Y Growth Projections by Types
8.7. North America Cloud Billing Market Size and Volume Forecast by Applications
8.7.1. Revenue Management
8.7.2. Customer Management
8.7.3. Account Management
8.8. Basis Point Share (BPS) Analysis by Applications
8.9. Y-o-Y Growth Projections by Applications
8.10. Market Attractiveness/Growth Potential Analysis
8.10.1. By Country
8.10.2. By Product Type
8.10.3. By Application
8.11. North America Cloud Billing Demand Share Forecast, 2019-2026
9. Latin America Cloud Billing Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.1.3. Latin America Average Pricing Analysis
9.2. Latin America Cloud Billing Market Size and Volume Forecast by Country
9.2.1. Brazil
9.2.2. Mexico
9.2.3. Rest of Latin America
9.3. Absolute $ Opportunity Assessment by Country
9.4. Latin America Cloud Billing Market Size and Volume Forecast by Types
9.4.1. Embedded
9.4.2. Subscription
9.4.3. Convergent
9.4.4. Metered
9.4.5. Cloud Service
9.4.6. Professional Service
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. Latin America Cloud Billing Market Size and Volume Forecast by Applications
9.7.1. Revenue Management
9.7.2. Customer Management
9.7.3. Account Management
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. Market Attractiveness/Growth Potential Analysis
9.10.1. By Country
9.10.2. By Product Type
9.10.3. By Application
9.11. Latin America Cloud Billing Demand Share Forecast, 2019-2026
10. Europe Cloud Billing Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Europe Average Pricing Analysis
10.2. Europe Cloud Billing Market Size and Volume Forecast by Country
10.2.1. Germany
10.2.2. France
10.2.3. Italy
10.2.4. U.K.
10.2.5. Spain
10.2.6. Russia
10.2.7. Rest of Europe
10.3. Absolute $ Opportunity Assessment by Country
10.4. Europe Cloud Billing Market Size and Volume Forecast by Types
10.4.1. Embedded
10.4.2. Subscription
10.4.3. Convergent
10.4.4. Metered
10.4.5. Cloud Service
10.4.6. Professional Service
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Europe Cloud Billing Market Size and Volume Forecast by Applications
10.7.1. Revenue Management
10.7.2. Customer Management
10.7.3. Account Management
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Market Attractiveness/Growth Potential Analysis
10.10.1. By Country
10.10.2. By Product Type
10.10.3. By Application
10.11. Europe Cloud Billing Demand Share Forecast, 2019-2026
11. Asia Pacific Cloud Billing Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Asia Pacific Average Pricing Analysis
11.2. Asia Pacific Cloud Billing Market Size and Volume Forecast by Country
11.2.1. China
11.2.2. Japan
11.2.3. South Korea
11.2.4. India
11.2.5. Australia
11.2.6. Rest of Asia Pacific (APAC)
11.3. Absolute $ Opportunity Assessment by Country
11.4. Asia Pacific Cloud Billing Market Size and Volume Forecast by Types
11.4.1. Embedded
11.4.2. Subscription
11.4.3. Convergent
11.4.4. Metered
11.4.5. Cloud Service
11.4.6. Professional Service
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Asia Pacific Cloud Billing Market Size and Volume Forecast by Applications
11.7.1. Revenue Management
11.7.2. Customer Management
11.7.3. Account Management
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Market Attractiveness/Growth Potential Analysis
11.10.1. By Country
11.10.2. By Product Type
11.10.3. By Application
11.11. Asia Pacific Cloud Billing Demand Share Forecast, 2019-2026
12. Middle East & Africa Cloud Billing Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Middle East & Africa Average Pricing Analysis
12.2. Middle East & Africa Cloud Billing Market Size and Volume Forecast by Country
12.2.1. Saudi Arabia
12.2.2. South Africa
12.2.3. UAE
12.2.4. Rest of Middle East & Africa (MEA)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Middle East & Africa Cloud Billing Market Size and Volume Forecast by Types
12.4.1. Embedded
12.4.2. Subscription
12.4.3. Convergent
12.4.4. Metered
12.4.5. Cloud Service
12.4.6. Professional Service
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Middle East & Africa Cloud Billing Market Size and Volume Forecast by Applications
12.7.1. Revenue Management
12.7.2. Customer Management
12.7.3. Account Management
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Market Attractiveness/Growth Potential Analysis
12.10.1. By Country
12.10.2. By Product Type
12.10.3. By Application
12.11. Middle East & Africa Cloud Billing Demand Share Forecast, 2019-2026
13. Competition Landscape
13.1. Global Cloud Billing Market: Market Share Analysis
13.2. Cloud Billing Distributors and Customers
13.3. Cloud Billing Market: Competitive Dashboard
13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
13.4.1. Aria Systems
13.4.2. Amazon Web Services
13.4.3. CSC
13.4.4. Cerillion
13.4.5. Blusynergy
13.4.6. Amdocs
13.4.7. CGI Group
13.4.8. Blueoss
13.4.9. Cloudability
13.4.10. Csg International
13.4.11. Chargebee
13.4.12. &
Segments Covered in the Report:
The global cloud billing market has been segmented on the basis of
Verticals
- Banking & Financial Service & Insurance (BFSI)
- Retail
- Public Sector and Utilities
- Telecom
- IT and Media
- Healthcare
- Transportation
- Logistics
Types
- Embedded
- Subscription
- Convergent
- Metered
- Cloud Service
- Professional Service
Deployments
- Public
- Private
- Hybrid
Services
- Software as a Service (SaaS)
- Infrastructure as a Service (IaaS)
- Platform as a Service (PaaS)
Applications
- Revenue Management
- Customer Management
- Account Management
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key players in the global cloud billing market include Aria Systems, Amazon Web Services, CSC, Cerillion, Blusynergy, Amdocs, CGI Group, Blueoss, Cloudability, Csg International, Chargebee, Interworks, Metratech, Oracle, Redknee, Globetom, NEC Corporation, Zuora, Comverse, Talligent, Comarch, Utilibill, IBM, SAP, Monexa, and Mphasis. In July 2014, Ericsson declared the acquisition of MetraTech to improve its enterprise and cloud billing capabilities. In May 2013, Mphasis launched Billing as a Service (BaaS) to increase operational efficiency.
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