The global cloud billing market size is expected to reach the value of USD 160 billion by 2027 with a CAGR of 17% throughout the forecast period 2022-2027.
Cloud billing is termed as producing bills from resource data usage using a set of terms and conditions. Cloud services are available in three types like platform as a service, software as a service, and infrastructure as a service. Database processing, online storage of data, and web-based email services are some examples of cloud services. Cloud billing solutions combine traditional billing solutions with cloud technology and allow billing for both digital and non-digital services.
Cloud billing has wide applications like providing protecting customer’s data, supporting the number of transactions, and also provides high service availability. The cloud billing market also provides many advantages which include developed customer experience and removal of patches and promotions.
Factors driving the cloud billing market include technological advancements and the majority of the companies concentrating on augmenting technological solutions. The demand for less monetary and operating expenses escalates the cloud billing market growth globally.
The factors responsible for the cloud billing market include growing cloud services adoption and the increasing demand for efficient and transparent mechanisms for cloud billing. The increasing demand for centralized and convergent billing solutions and growing demand for billing operations fuel the market growth.
Factors restraining the cloud billing market include inadequate bandwidth and low access to high-speed internet, and shortage of administrative frameworks and industry standards. Data breaches and cyberattacks hinder market growth.
COVID-19 Impact on Cloud Billing Market
The recent novel coronavirus (COVID-19) has created a positive effect on the cloud billing market. The cloud billing market has gained more popularity due to the sudden pandemic period, particularly usage-based billing. Enterprises are experiencing a bright future over cloud services and billing. Due to the lockdown period, different manufacturing firms paused their ongoing operations, and hence some are making use of some of the cloud services.
Market Size Available
2022 – 2027
2022 – 2027
By Type, Application, Industry Verticals, and Region
Revenue Forecast by 2027
USD 160 Billion
North America, Europe, APAC, RoW
Market Leaders Profiled
Amazon Web Services, Inc. (AWS), Computer Sciences Corporation (CSC), International Business Machines Corporation (IBM), NEC Corporation, Oracle Corporation, Amdocs Inc., Aria Systems Inc., CGI Group Inc., SAP SE, Zuora, Inc., Others
The research report on the global Cloud Billing Market is segmented and sub-segmented based on type, application, and industry verticals.
By type, the software as a service (SaaS) segment is expected to hold the majority of the cloud billing market.
• Customer Management
• Revenue Management
• Account Management
By application, the customer management segment dominates the cloud billing market across the timeline period.
The telecommunication industry vertical segment dominates the cloud billing market. The segment growth owes to the huge rise in subscribers and the 5G appearance has motivated the increasing demand for the services.
The retail segment is expected to hold a maximum amount of share. The rise in the number of digital documents such as invoices and bills.
North America is to dominate the cloud billing market with the highest share over the timeline period. The region's growth attributes to the existence of different solution providers. 80% of the North American companies use a complicated deployment model in the cloud i.e.,51% of the hybrid and 21% of the multi-cloud strategy. The growing execution of cloud-based technology together with a superior entry for client demand boosts the cloud billing market growth throughout the region. The U.S. cloud billing market is predicted to grow with a prominent CAGR due to increasing economical development and considerable infrastructure results in revenue growth across the region. Technologically, the U.S is an advanced country with good sound knowledge and the existence of a huge number of TSPs, CSPs, and the presence of large key players like AWS, Microsoft, and IBM contribute to the majority of the cloud billing market growth. The Canadian cloud billing market is anticipated to provide opportunities for service providers and cloud billing solutions.
Europe contributes a tremendous share in the cloud billing market over the forecast period. The European cloud billing market is augmenting at a higher rate and the initiatives taken by the European government.
However, the cloud billing market in Asia-Pacific is said to be the quickest growing region globally. The market growth in the region owes to the familiarity of the services among the small and medium businesses, and advantages like scalability and price play a vital role. The rising adoption of cost-effective technology by small and medium enterprises along with large ones.
Latin America is the second highest and quickest growing region followed by Asia-Pacific with a quick CAGR pace. Nearly 90% of the Latin American companies are either high or medium adopters of cloud, as per Accenture Research. On January 26, 2022, IBM disclosed that Technology Solutions Providers have chosen IBM Cloud in bringing their solutions to life and drive innovation.
The Brazilian cloud billing market is said to grow with a CAGR of 34% during the historical period 2022-2027. The market in Brazil owes to the rise in demand for centralized payment services and billing. Due to the adaptability and stretchability of the billing solutions, quick adoption of cloud billing solutions is made in Brazil.
The Middle East & Africa is anticipated to have quick growth in the upcoming years. UAE is likely to hold a major share in the cloud billing market. The companies in UAE are quickly feeling the market globally. Also, the organizations in UAE started adopting cloud billing solutions, and the cloud billing market is likely to have high perforation and implementation over the forthcoming years. The African countries are adapting to shift their economy and education system by upgrading their entrance to mobile connectivity and public cloud.
Cloud Billing Market Key Players
Oracle (US), SAP (Germany), Salesforce(US), Zuora(US), Aria System(US), BillingPlatform(US), Recurly(US), Jamcracker(US), Cerillion(UK), CGI(Canada), ConnectWise(US), Zoho(India), AppDirect(US), CloudBilling(Netherlands), Chargebee(US), RecVue(US), Cloud Assert(US), CloudXchange.io(India), and Chargify(US) are some key players involved in the global cloud billing market.
Recent Happenings in the global Cloud Billing Market
Cloud Billing Market - Forecast (2021 - 2026)
Chapter 1. Cloud Billing Market – Scope & Methodology
1.1. Market Segmentation
1.3. Research Methodology
1.4. Primary Sources
1.5. Secondary Sources
Chapter 2. Cloud Billing Market – Executive Summary
2.1. Market Size & Forecast – (2021 – 2026) ($M/$Bn)
2.2. Key Trends & Insights
2.3. COVID-19 Impact Analysis
2.3.1. Impact during 2021 - 2026
2.3.2. Impact on Supply – Demand
2.3.3. Impact on Production Cost
2.3.4. Impact on Supply Chain
Chapter 3. Cloud Billing Market – Competition Scenario
3.1. Market Share Analysis
3.2. Product Benchmarking
3.3. Competitive Strategy & Development Scenario
3.4. Competitive Pricing Analysis
3.5. Supplier - Distributor Analysis
Chapter 4. Cloud Billing Market Entry Scenario
4.1. Case Studies – Start-up/Thriving Companies
4.2. Regulatory Scenario - By Region
4.3 Customer Analysis
4.4. Porters Five Force Model
4.4.1. Bargaining Power of Suppliers
4.4.2. Bargaining Powers of Customers
4.4.3. Threat of New Entrants
4.4.4. Rivalry among Existing Players
4.4.5. Threat of Substitutes
Chapter 5. Cloud Billing Market - Landscape
5.1. Value Chain Analysis – Key Stakeholders Impact Analysis
5.2. Market Drivers
5.3. Market Restraints/Challenges
5.4. Market Opportunities
Chapter 6. Cloud Billing Market – By Type
6.1. Subscription Billing
6.2. Metered Billing
6.3. Cloud Services Billing
6.3.1. Software as a Service (SaaS)
6.3.2. Platform as a Service (PaaS)
6.3.3. Infrastructure as a Service (IaaS)
Chapter 7. Cloud Billing Market – By Application
7.1. Customer Management
7.2. Revenue Management
7.3. Account Management
Chapter 8. Cloud Billing Market – By Industry Verticals
8.1. Banking, Financial Services, and Insurance (BFSI)
8.4. Public Sector and Utilities
8.5. Healthcare and Life Sciences
8.7. Media and Entertainment
8.8. Telecommunication and ITeS
Chapter 11. Cloud Billing Market , By Geography – Market Size, Forecast, Trends & Insights
11.1. North America
11.2.7. Rest of Europe
11.3. Asia Pacific
11.3.2. South Korea
11.3.5. Australia & New Zealand
11.3.6. Rest of Asia-Pacific
11.4. Rest of the World
11.4.1. Middle East
11.4.3. South America
Chapter 12. Cloud Billing Market – Company Profiles – (Overview, Product Portfolio, Financials, Developments)
12.1. Company 1
12.2. Company 2
12.3. Company 3
12.4. Company 4
12.5. Company 5
12.6. Company 6
12.7. Company 7
12.8. Company 8
12.9. Company 9
12.10. Company 10
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