Global Cloud Billing Market Trends And Strategies Of Major Players In The Cloud Billing Market 2021-2030
3 Aug, 2021
The cloud billing market consists of sales of cloud billing services by entities (organizations, sole traders, and partnerships) that are engaged in the providing of cloud-based billing solutions. The term cloud billing refers to a combination of cloud computing and electronic billing. Several firms are broadening their horizons by implementing an on-premises billing infrastructure. Cloud billing is transforming the computer system, allowing for greater billing flexibility and easier data access.
Global Cloud Billing Market Size And Drivers:
The global cloud billing market is expected to grow from $4.76 billion in 2020 to $5.92 billion in 2021 at a compound annual growth rate (CAGR) of 24.2%. The change in growth trend is mainly due to the growing demand for cloud billing owing to its lower operating costs. The cloud billing market is expected to reach $12.40 billion in 2025 at a CAGR of 20.3%. The rising need for lower capital and operating expenditure is expected to drive the growth of the cloud billing market in the forecast period.
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Trends In The Global Cloud Billing Market
Advancements in technology are shaping the cloud billing market. Major companies operating in the cloud billing sector are focused on developing technological solutions for cloud billing to accelerate business growth. For instance, in November 2020, Salesforce, an American cloud-based software company launched Revenue Cloud, based on multi-cloud billing technology to help companies to track revenue lifecycle. Revenue Cloud, which is part of Salesforce Customer 360 platform, combines the existing partner relationship management (PRM), CPQ and Billing, and B2B commerce solutions into a single solution for the firm.
Global Cloud Billing Market Segments:
The global cloud billing market is further segmented based on type, deployment type, organization size, application and geography.
By Type: Subscription Billing, Metered Billing, Cloud Service Billing, Provisioning, Others
By Deployment Type: Private Cloud, Public Cloud
By Organization Size: Large Enterprises, SMEs
By Application: Account Management, Revenue Management, Customer Management, Others
By Vertical: BFSI, Telecommunications And ITES, Consumer Goods And Retail, Healthcare And Life Sciences, Others
By Geography: The global cloud billing market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the cloud billing market in 2020.
Read More On The Report For The Global Cloud Billing Market At:https://www.thebusinessresearchcompany.com/report/cloud-billing-global-market-report
Cloud Billing Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides cloud billing market overviews, analyzes and forecasts market size and growth for the global cloud billing market, cloud billing market share, cloud billing market players, cloud billing market segments and geographies, cloud billing market’s leading competitors’ revenues, profiles and market shares. The cloud billing market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.