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(IT-NEWSWIRE.COM, September 07, 2021 ) According to new market research report on "Cloud Billing Market by Component (Solutions, Services), Billing Type (Subscription, Usage-Based, One-Time, Others), Deployment Type, Service Model (IaaS, PaaS, SaaS), Organization Size, Vertical, and Region - Global Forecast to 2025", published by MarketsandMarkets™, the Cloud Billing Market size is expected to grow from USD 3.0 billion in 2020 to USD 6.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.6% during the forecast period.
The key factors that are expected to drive the growth of the market are the need for lower OPEX and CAPEX and increasing revenue leakages across industries.
Browse and in-depth TOC on “Cloud Billing Market”
205 – Tables
42 - Figures
207 - Pages
Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1022
Solutions segment to hold a larger market size during the forecast period
Cloud billing solutions are tools that perform the billing of cloud-based software and infrastructure and act as a single source of invoicing. Cloud billing solutions include features such as the ability to easily accommodate new SKUs or pricing changes, calculate usage charges, and track third-party billing & payouts. For instance, it can combine solutions such as Microsoft Office 365, Azure, and Cisco into one billing engine and eliminate disparate portals and invoices.
SMEs segment to grow at the highest CAGR during the forecast period
Organizations with less than 1,000 employees are categorized under the SMEs segment. They have a low marketing budget and often lack the resources and capabilities required for effective marketing orchestration. Customer data is important for any organization. SMEs, with their limited marketing budget, try to scale up their business through cost-effective marketing techniques to generate maximum RoI from their marketing spend. The intense competitive market scenario has encouraged SMEs to invest in cloud billing solutions & services and derive insights from a large pool of data for their business growth.
Consumer goods & retail vertical to grow at the highest CAGR during the forecast period
The consumer goods & retail vertical is adopting advanced technologies such as cloud computing, Big Data analytics, DevOps, digital stores, and social networks at a high rate. The various factors driving this adoption are the rising purchasing power of customers and the increasing customer expectations, leading to existing customer retention and new customer acquisition. Online retailing and cloud technologies have significantly disrupted the retail & consumer goods vertical, leading to the adoption of cloud computing mainly for storage, backup, and security services. Cloud computing services enable retailers to access customer data with just one click from any store located anywhere, leading to better customer service delivery.
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North America to account for the highest market share during the forecast period
Stable economic conditions and increasing SaaS adoption are expected to offer major significant drivers for the Cloud Billing Market in North America. The US is estimated to hold the largest share of the North America Cloud Billing Market in 2020, and the trend is expected to continue until 2025. It is a technologically advanced country due to the high level of technology awareness and the presence of a large number of CSPs, TSPs, and MSPs. The presence of giant cloud players, such as Microsoft, AWS, and IBM (all headquartered in the US), contributes to the growth of cloud computing in the US.
The major players in the Cloud Billing Market are 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).
The study includes an in-depth competitive analysis of key players in the Cloud Billing Market with their company profiles, recent developments, COVID-19 developments, and key market strategies.
About MarketsandMarkets
MarketsandMarkets is the largest market research firm worldwide in terms of annually published premium market research reports. Serving 1700 global fortune enterprises with more than 1200 premium studies in a year, M&M is catering to a multitude of clients across 8 different industrial verticals. We specialize in consulting assignments and business research across high growth markets, cutting edge technologies and newer applications. Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors.
M&M’s flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets. The new included chapters on Methodology and Benchmarking presented with high quality analytical infographics in our reports gives complete visibility of how the numbers have been arrived and defend the accuracy of the numbers.
We at MarketsandMarkets are inspired to help our clients grow by providing apt business insight with our huge market intelligence repository.
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Markets and Markets
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Email: sales@marketsandmarkets.com
Content Source: https://www.marketsandmarkets.com/PressReleases/cloud-billing.asp
Report: https://www.marketsandmarkets.com/Market-Reports/cloud-billing-market-1022.html
MarketsandMarkets™
Mr. Aashish Mehra
1-888-600-6441
raviraj.tak@marketsandmarkets.com
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