Cloud Billing Market Size, Share | Industry Forecast – 2029
The Cloud Billing Market was estimated around USD 2,517 million in 2019 and is expected to grow at a CAGR of 16.1% over the forecast period (2020-2027).
The factors driving growth of Cloud Billing Market includes rising focus by companies on reducing capital and operating costs, emerging need to comply with changing business environment, rapid growth in the e-commerce industry, rising international student mobility and improvements in the living standards. Moreover, growing adoption of Business Intelligence (BI) solutions by enterprises for effective decision making, increasing demand for cloud billing solutions across industry verticals such as Healthcare, Telecommunication and BSFI and rapid urbanization, are some of the additional factors supplementing the Cloud Billing Market share. In addition, the increasing investments by major corporations on research and development, rise in the launch of innovative products and growing population growth rates, are further contributing towards the market growth.
However, growth of the Cloud Billing Market is hindered due to high cost of installing cloud billing solutions.
The leading players operating in the market are Jamcracker, Inc., Telefonaktiebolaget LM Ericsson, Zuora Inc., Oracle Corporation, Microsoft Corporation, SAP SE, Salesforce.com, Inc., BillingPlatform, Recurly, Inc., and Aria Systems, Inc. among others.
Based on Deployment, the Public Cloud segment is predicted to grow at a faster CAGR during the forecast period
Cloud billing solutions are easy to deploy, do not require infrastructure maintenance and are easily available over internet, are some of the factors pushing Cloud Billing Market size.
Based on End-Use Industry, the Retail segment is projected to grow at a robust CAGR over the forecast period
Increase in the number of e-commerce websites and growing demand for subscription-based products, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to expand at a remarkable CAGR during the forecast period
Growing demand for cloud billing solutions across retail, healthcare, and telecommunication industries, expansion of the e-commerce sector, increased adoption of advanced technologies by major enterprises, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in the Asia-Pacific region.
Key Developments
In 2020 – Aria Systems launched Aria Marketplace Suite. Aria Marketplace Suite is offered B2B and B2C marketplace providers to streamline their operations. Aria Marketplace Suite offers income and products management tools for market operations, seamless billing, and payments experience.
In 2020 – SA introduced SAP Subscription Billing, which allows sending notifications before and after an allowance expires, completing pending subscription, setting prices for allowance, and setting cancellation notice dates.
Market Segmentation
Segmentation by Deployment
Public Cloud
Private Cloud
Hybrid Cloud
Segmentation by Component
Platform
Services
Segmentation by End-Use Industry
Retail
Power & Energy
Healthcare
Telecommunications
BFSI
Others
Segmentation by Region
Asia PacificChina
Japan
India
Rest of APAC
North AmericaUnited States of America
Canada
EuropeUnited Kingdom
Germany
France
Spain
Rest of Europe
RoWBrazil
South Africa
Saudi Arabia
UAE
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