Global Cloud Billing Market is valued approximately USD 3.9 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 15.3% over the forecast period 2022-2029. Cloud billing aids in the charging of cloud-based software and infrastructure. Either private or public clouds can be used for the deployment of cloud systems. Cloud billing is a method that helps organizations create bills by enforcing particular requirements. Additionally, firms can speed their billing procedures through cloud, which enhances the overall client experience. The use of cloud billing solutions decreases the amount of IT infrastructure and resources needed because there is less need for pricey hardware integration. The increasing penetration of subscription-based business models and growing adoption of cloud application & services are key factors driving the market growth.
The rising penetration of subscription-based business models is contributing towards the growth of the Global Cloud Billing market. For instance – according to Statista – in 2020, the market size of the digital subscription economy worldwide was estimated at USD 650 billion, and as per projections the global digital subscription economy would reach to USD 1500 billion by 2025. Additionally, according to Statista – in 2021, the global cloud applications market was valued at USD 133.6 billion and is expected to grow to USD 168.6 billion by 2025. Also, rising need for convergent and centralized billing solutions and growing emergence of IoT & ML Technologies would create lucrative growth prospectus for the market over the forecast period. However, rising concern over data thefts and cybersecurity attacks stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cloud Billing Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, owing to the availability of robust technological infrastructure and rising adoption of cloud-based billing solutions in the region. Whereas Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as rising adoption of public cloud services, and growing use of cloud-based billing solutions and services as well as increasing popularity of subscription services in the region.
Major market player included in this report are:
Amazon Web Services Inc.
Corporation Service Company
Recent Developments in the Market:
? July 2020 – Aria Systems announced launch of Aria Marketplace Suite. This new solution is intended for B2B and B2C marketplace providers to streamline their operations. Aria Marketplace Suite offers revenue and products management tools for market operations, seamless billing, and payments experience.
? September 2020 – SAP announced upgradation in its SAP Subscription Billing. The new upgrade facilitates sending notifications before and after an allowance expires, completing pending subscription, setting prices for allowance, and setting cancellation notice dates.
Global Cloud Billing Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Billing Type, Deployment Type, Enterprise Size, End User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Billing Type
By Deployment Type
By Enterprise Size
Retail and Consumer Goods
Media and Entertainment
Rest of the World