Global Cloud Billing Market Highlights over 2022-2031

The global cloud billing market was valued to be nearly USD 4 billion in 2021 and is anticipated to expand further at a CAGR of 17% over the forecast period, i.e., 2022 - 2031.  The growth of the market can be attributed to the increasing trend of workplace virtualization and simplification of operations, increasing demand for upgraded billing services, cost-saving and finer work agility advantages for organisations, and enhanced overall customer experience. Cloud billing also substantially reduces IT resources and expensive hardware, as well as results in low capital and operating disbursement. Moreover, benefits, such as real-time management of huge amounts of data, and first-class billing support are further expected to drive the market growth during the forecast period.

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COVID-19 has had a positive impact on the cloud billing market. Due to the pandemic cloud billing solutions have gained popularity as organizations have revised their budgets and changed their preferences to survive during the pandemic.

However, increasing cyber-attacks and data theft activities are one of key restraints for the growth of the market. Many firms are negligent of this issue and have unguarded data and poor cybersecurity practices which makes them vulnerable to data loss. Further, these services have high-priced licenses, which is also expected to hinder market growth.

The market is segmented by deployment type into private cloud, public cloud, and hybrid cloud, out of which, the public cloud segment is anticipated to hold the largest share over the forecast period owing to the benefits it provides which are either free or offered under a subscription model which helps organizations meet their demands for scalability, provides a pay per usage pricing model and ensures ease of deployment.

Global Cloud Billing Market Regional Synopsis

Regionally, the global cloud billing market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America region is expected to hold the largest share of the market during the forecast period owing to the rise in the implementation of cloud-based technology by various business processes across end-user industries, along with fine access to client needs.

Market Segmentation

Our in-depth analysis of the global cloud billing market includes the following segments:

By Type

• Subscription Billing

• Cloud Service Billing

• Metered Billing

By End-User

• Healthcare

• Retail and consumer goods

• Information Technology

• Media and Entertainment

• Education

By Deployment Type

• Private Cloud

• Public Cloud

• Hybrid Cloud

Growth Drivers and Challenges Impacting the Growth of the Global Cloud Billing Market

Growth Drivers

• Increasing trend of workplace virtualization and simplification of operations

• Increasing demand for upgraded billing services

• Cost-saving and finer work agility advantages for organisations

Challenges

• Increasing cyber-attacks and data theft activities  

• High-priced licenses for these services

Key Companies Dominating the Global Cloud Billing Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global cloud billing market that are included in our report are IBM, Oracle, Amazon Web Service, Inc., NEC Corporation, Apptio, Inc, Aria Systems, Inc, Cerillion, CSG, CGI Inc., Zoho Corporation Pvt. Ltd., and others.

Latest Development in the Global Cloud Billing Market:

• March 2022: Aria Systems, Inc. announced partnership with Rentokil Initial plc to offer Aria’s cloud-based billing platform to manage billing across multiple lines of business for its billing and monetization solution.

• March 2022: Amazon Web Services, Inc. (AWS) introduced AWS Billing Conductor which can be used by users to easily provide customizable pricing and cost visibility for their end customers or business units.

Key Reasons to Buy Our Report

• The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

• It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

• The report includes detailed company profiles of the major players dominating the market.

• We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

• We provide customized reports as per the client's requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal.

Geography Analysis:

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

• North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
• Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
• Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
• Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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