Cloud Billing
Market Technological breakthroughs by 2025
Cloud billing
involves the process of generating bills using a set of defined
billing policies from the resource data. A cloud billing service
module is used for a service oriented architecture that covers
functional requirements including quote service, conversion policies,
user identification, and payment schemes along with the
non-functional ones such as security, standards, fault tolerance, and
scalability among others. Billing solutions are generated from the
cloud that provides a solution supporting multi-tenancy where vendors
run it in a public cloud allowing multiple operators to access it.
This process does not provide any customization along with the
compute resources being paid on the basis of usage or on monthly
basis rather than a long-term contract. The global cloud billing
market has been segmented on the basis of type, provider, end use
industries and geography. Based on type, the global market for cloud
billing has been segmented into metered billing, provisioning,
subscription billing and cloud service billing among others. On the
basis of provider the market includes cloud service provider, managed
service provider and telecom & communication service provider.
Retail, manufacturing, education, telecommunication, healthcare and
media form the different end use industries based on which the global
market has been segmented.
Global cloud
billing market on the basis of geography has been segmented into
North America, Europe, Asia Pacific, Latin America and Middle East
and Africa.
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It is the ability to
issue invoices faster along with reduction of errors that form some
of the major drivers for this market globally. Usage of cloud billing
system enables reaching a client quickly along with reducing the
chance of typo errors. Moreover, using this system helps in
monitoring customer subscription that may be weekly, monthly or
yearly. This process helps in tracking the whole payment system of
customers along with sending timely reminders regarding the due
payment further reducing chances of deferred payment. Usage of cloud
billing system improves the overall record keeping making it faster
to access along with the ability to access these information from
anywhere without being physically present at the location. With all
these drivers that has a positive impact on the growth of this
market, there are certain challenges as well that has a negative
impact on the implementation procedure of this technology. One such
factor being the security related issues that may risk the customer
related data to get hacked along with the chances of confidential
data being used by third person posing challenges for this market.
In addition to this, it is also the high costs along with the
possible chances of downtime that form some other restraints to
restrict the growth. Considering these drivers and restraints, it is
the technological shift for faster information access that provides
huge scope of opportunities for this market in the coming years.
Geographically,
North America formed one of the major regions contributing to the
growth for this market. The rising implementation of cloud based
technology along with better access to client demands has been some
of the major reasons for the rising demand of this market. Asia
Pacific formed another major region along with being one of the
fastest growing region for this market globally. China, Japan and
India among others are some of the major regions contributing to the
growth. Technological shift towards easier access of data along with
growth of cloud based technology have been certain major factors to
have driven the market in this region.
Some of the key
players that are operating in the global cloud billing market include
Computer Sciences Corporation (The U.S.), International Business
Machines Corporation (The U.S.), Amazon Web Services, Inc. (The
U.S.), Aria Systems(The U.S.), NEC Corporation (Japan), Amdocs Inc.
(Israel), Oracle Corporation (The U.S.), SAP SE (Germany), Cerilion
Technologies Ltd. (The UK),CGI Group Inc. (Canada) and Zuora, Inc.
(The U.S.) among others.
The report offers a
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about market size. The projections featured in the report have been
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