Cloud Billing Market Size, Share, Growth, Trends Analysis, Forecast Report 2027

The global Cloud Billing market size is projected to reach US$ 20690 million by 2027, from US$ 8418.2 million in 2020, at a CAGR of 13.6% during 2021-2027. As demand for billing operations, centralized and convergent billing systems, and the need to decrease capital and operating expenses develops, the market for cloud billing is rising. Some of the anticipated industry trends include subscription-based billing, pay-per-use charging, and real-time billing.

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Cloud billing is defined as a technique that assists businesses in generating bills by enforcing predetermined standards. Authors frequently address functional needs such as payment schemes, quote service, and others when defining the billing service module. When defining the phrase cloud billing, non-functional needs such as fault tolerance, security, and so on are included. The emergence of the cloud billing industry has enabled the much-discussed cloud optimised billing element to provide a bill-generating interface.

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Growing corporate needs and constantly changing client preferences have prompted a re-definition of agility through the adaption of effective business models. The ability to provide usage-based pricing plans, as well as a lean system that tracks resource utilisation and invoicing difficulties related to cost and metering, are opening up new business opportunities for cloud billing market participants.

Cloud Billing Market Share Analysis
For main industries including telecoms, IT, BFSI, and telephony, North America is predicted to be the most promising market. COVID-19 has a significant impact on North America.

Because of the increased adoption of cost-effective technology by small and medium-sized businesses as well as large corporations, the Asia Pacific area will experience rapid growth. High scalability and other advantages are projected to drive market demand.

Cloud Billing Market Share by Type

o Subscription Billing
o Metered Billing
o Cloud Service Billing
o Provisioning
o Others

Cloud Billing Market Share by Application

o Account Management
o Revenue Management
o Customer Management
o Others

Top Players in the Cloud Billing Market

o Amazon Web Services (AWS)
o Computer Sciences Corporation (CSC)
o IBM
o NEC Corporation
o Oracle
o Amdocs Inc.
o Aria Systems
o CGI Group Inc.
o SAP SE
o Zuora

Similar Reports :

Telecom Cloud Billing Market: https://reports.valuates.com/market-reports/QYRE-Auto-29N5974/global-telecom-cloud-billing

Cloud Services Market: https://reports.valuates.com/market-reports/ALLI-Manu-3H17/cloud-services

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This release was published on openPR.