Cloud Billing Market Flourishing at 23.9% CAGR to Hit $16.59 Bn to 2021 Dominated by North America

Cloud billing market size is estimated to grow from $ 5.68 billion in 2016 to $ 16.59 billion by 2021, at an estimated CAGR of 23.9% from 2016 to 2021.North America is expected to hold the largest market share in 2016 while APAC is the fastest maturing in terms of CAGR.

Cloud Billing Market flourishing due to growing demand for billing operations, centralized and convergent billing solutions and the need for lower capital and operating expenditure are driving the cloud billing market. APAC has a variety of billing systems and the criticality of billing is much higher due to its diverse nature. This is one of the major factors supporting the growth of cloud billing in this region to avoid security issues and IT glitches. Moreover, at the same time, cloud emergence and mandatory government regulation are boosting the growth of cloud billing market in the APAC region.

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The various key cloud billing vendors and service providers profiled in Cloud Billing Market report are as follows Amazon Web Service, Inc. (U.S.), CSC (U.S.), IBM Corporation (U.S.), NEC Corporation (Japan), Oracle Corporation (U.S.), Amdocs, Inc. (Israel),Aria System, Inc. (U.S.), CGI Group, Inc. (Canada), SAP SE (Germany), Zuora, Inc. (U.S.).
North America is expected to hold the largest market share in 2016 while APAC is the fastest maturing in terms of CAGR. APAC has a variety of billing systems and the criticality of billing is much higher due to its diverse nature. This is one of the major factors supporting the growth of cloud billing in this region to avoid security issues and IT glitches. Moreover, at the same time, cloud emergence and mandatory government regulation are boosting the growth of cloud billing market in the APAC region.

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In the process of determining and verifying the market size for several segments and sub-segments gathered through secondary research, extensive primary interviews were conducted with key people. The break-up of profiles of primary participants is given below as:
1. By Company Type: Tier 1 – 18%, Tier 2 – 31%, and Tier 3 – 51%
2. By Designation: C level – 42%, Director level – 33%, others – 25%
3. By Region: North America – 47%, Europe – 31%, APAC – 14%, ROW- 8%

The report will help the market leaders/new entrants in this market in the following ways:
1. This report segments the cloud billing market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub-segments across different verticals and regions.
2. The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders to better understand the competitors and gain more insights to better their position in the business. The competitive landscape section includes competitor ecosystem, new product developments, partnerships, and mergers & acquisitions.

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Account Management is expected to have the largest market share during the forecast period because the major part of account management includes customer handling and managing their account. Cloud billing solutions and services help organizations maintain a better professional relationship with their customers and solve their issues. This advantage of cloud billing has led to its penetration in the account management area.
Real-time billing, pay per use billing model, SaaS-based offerings, and customer-relationship management are some of the upcoming trends in the cloud billing market. Moreover, this would also help the organizations to avoid the vendor lock-ins, thereby enabling customers to have the flexibility to deploy various cloud-based applications and offerings from multiple vendors through a seamless interface. The increasing demand for cloud managed services among SMEs has further enhanced the demand for it across many verticals.

Browse related report
1) Telecom Cloud Billing Market by Type of Billing: Telecom cloud billing market size is estimated to grow from $2.49 billion in 2016 to $8.22 billion by 2021, at a Compound Annual Growth Rate (CAGR) of 27.0% from 2016 to 2021. Lower operational & administration cost, advancement & increase in adoption of cloud-based technologies, increasing mobile penetration and high subscriber growth, need for real-time billing, and increased demand for bundled services are some of the driving forces in the telecom cloud billing market.

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Release ID: 253838