The report "Cloud Billing Market [By Solution (Billing of Cloud Services, Billing Services on Cloud), By Delivery (SaaS, PaaS, IaaS), By Users (SMB, Enterprises)]: Global Advancements, Market Forecasts & Analysis (2013-2018)”, defines and segments the cloud billing market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the technology roadmap and adoption trends.
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To sustain through the intense competition, organizations across various industries are aligning their resources to retain customers as recurring business from existing customers is more cost effective than acquiring new customers. The billing systems are undergoing modernization with businesses realizing the role of billing in strengthening customer satisfaction. Cloud billing redefines the traditional billing system by blending it with cloud technology. Evolving business needs and changing customer preferences has given way to the adaption of new business models and disruptive technologies to refine the business agility.
Over the past few years, organizations are embracing subscription-based business models with pay-as-you-use pricing to deliver convenience to customers and enrich their service experience. These businesses need usage-based or time-based pricing models with lean and efficient systems to track the utilization of resources and address the billing complexities associated with pricing and metering. Cloud billing solutions manage the billing intricacy associated with the delivery of digital or non-digital services along with the robust support for integration with the existing systems.
The Cloud Billing Market solutions merge the convergent billing solutions with the cloud technology to deliver value to the customers through the billing systems. The cloud billing solutions help in reducing the large upfront costs as the real-time, multi-tenant billing systems are maintained by the vendor. The cloud billing solutions bring various benefits beyond cost effectiveness such as transparent rating and charging, large volume of data management in real-time, billing expertise and help organizations focus well on their core business functions.
With the penetration of cloud technology, the number of cloud service users has significantly increased creating a need for tailored service plans to address the varying customer demands. The billing solutions for cloud services help in avoiding under and over-charging by supporting sophisticated rating, dynamic price plans and granular billing by extending support for variable billable units.
Organizations are aggressively moving their business processes on the cloud to reduce the reliance on in-house expertise. Billing solutions on cloud are deployed by organizations of all sizes across various verticals to reduce the large upfront investment and deliver flexibility and scalability to comply with the changing business needs. Businesses keen on automating and streamlining the billing process to enable real-time insight into customer accounts are adopting the billing services on the cloud.
Businesses are leveraging the technological advances to build cost-efficient and transparent billing processes by employing cloud services to deliver effective and efficient business outcomes. MarketsandMarkets forecasts the cloud billing market to grow from $2.4 billion in 2013 to $9.58 billion in 2018 at a CAGR of 31.9% during 2013 to 2018.
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Leading Players in Cloud Billing Market are Amazon Web Services, Amdocs, Aria Systems, IBM, Oracle, Bmc Software, Cerillion, CGI Group, Comarch, Mphasis, SAP and Zuora
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