The cloud billing market is expected to grow from USD 5.68
Billion in 2016 to USD 16.59 Billion by 2021, at a Compound Annual Growth Rate
(CAGR) of 23.9% during the forecast period. High demand for billing operations,
centralized and convergent billing solutions and the need to lower capital and
operating expenditure are driving the market.
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The customer management is expected to grow at the highest CAGR
during the forecast period. As the companies are looking for ways to enhance
their customer experience and majorly focusing on customer retention and
customer feedback, of the application of customer management in the cloud
billing market is increasing. Moreover, cloud billing not only helps in
retaining the customers but also delivers value by establishing a healthy
customer-provider relationship.
Continuously changing technology, transition from on-premises to
cloud-based billing, and lack of awareness are some of the major restraints and
challenges in the market. The pace at which the need for billing operation and
lowering the capital expenditure is increasing among the organizations, the adoption
of cloud billing solutions and services is rising in the market.
The
major vendors in this market include 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), and Zuora, Inc (U.S.). These players have adopted
various strategies such as new product development, mergers and acquisitions,
collaborations, and partnerships to serve the cloud billing market.
Scope of the Report
The research report categorizes the cloud billing market to
forecast the revenues and analyze the trends in each of the following
sub-markets:
By Type
- Subscription Billing
- Metered Billing
- Cloud Service Billing
- Provisioning
- Others
By Provider
- Cloud Service Provider
- Telecom and Communication Service
Provider
- Managed Service Provider
By Application
- Account Management
- Revenue Management
- Customer Management
- Others
By Organization Size
- Small and Medium Enterprise (SME)
- Large enterprise
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