According to a new market research report “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 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”
241 – Tables
44 – Figures
252 – 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.
Request a Sample Report @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=1022
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.
Browse Adjacent Markets @ Cloud Computing Market Research Reports & Consulting
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
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. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high-growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” 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.