According to a new report, published by KBV research, The Global Cloud Billing Market size is expected to reach $10.1 billion by 2028, rising at a market growth of 15.2% CAGR during the forecast period.
The Services segment is showcasing a CAGR of 17.2% during (2022 - 2028). Cloud billing services include both functional and non-functional needs. The functional need involves policies, payment schedules, user IDs, and conversion functions. The non-functional need contains standards, scalability, and security. In addition, the flexibility of utilizing services like SaaS (software as a service), PaaS (platform as a service), and IaaS (infrastructure as a service) anywhere and anytime has created various business opportunities across several industry verticals, leading to market growth in this segment.
The SaaS segment acquired maximum revenue share in the Global Cloud Billing Market by Service Model in 2021 thereby, achieving a market value of $4.7 billion by 2028. This is credited to the rise in demand for enhanced billing working is one of the most significant factors for developing the international cloud billing market. Such facilities enhance the customer experience, defining the purchasing pattern, making it easy for the operator to track and understand the data, and streamlining the process.
The Subscription segment has shown the growth rate of 15.4% during (2022 - 2028). With the subscription model, cloud billing could estimate the revenues and the income, which further aids the organizations in strategizing their business plans accordingly. They could focus on the recurring revenues every month, quarter, or year. Furthermore, it becomes simple to bundle various services or products at accessible costs regularly. From a consumer point of view, it is very suitable as they don’t require to pay large upfront prices, and the payment is only on a consumption basis.
The Public segment is leading the Global Cloud Billing Market by Deployment Type in 2021 thereby, achieving a market value of $4.8 billion by 2028. In this segment, several resources, like storage, applications, hardware, and virtual servers, are accessible to customer businesses through the internet. The facilities provided by the public cloud are either provided under a subscription model or free. It helps companies to provide a pay-per-usage pricing model, ensures ease of deployment, and satisfies their demand for scalability. Companies could use public clouds to build their performance notably more efficiently.
The Small & Medium Sized Enterprises segment is poised to grow at a CAGR of 16.5% during (2022 - 2028). Businesses are now becoming more focused on non-banking financial organizations in comparison to banks, due to more accessible application procedures for SMEs and quick factoring service sanctions, which as a result, has propelled the segment’s growth. The demand for cloud billing is increasing in SMEs due to a shortage of workforce.
The Telecom & IT segment is generating highest revenue share in the Global Cloud Billing Market by Vertical in 2021 thereby, achieving a market value of $2.1 billion by 2028. It is a problem for telecommunications suppliers to organize this data and maintain existing consumers, along with enhancing client experience and obtaining new subscribers. Most businesses utilize out-of-date billing systems in the telecommunications segment, which cannot be combined with the latest technologies. Instead, these businesses are concentrating on streamlining income loss.
The North America market dominated the Global Cloud Billing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3.4 billion by 2028.The Europe market is exhibiting a CAGR of 14.9% during (2022 - 2028). Additionally, The Asia Pacific market would showcase a CAGR of 16% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/cloud-billing-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Amazon Web Services, Inc. (Amazon.com, Inc.), Aria Systems, Inc., Recurly, Inc., Zuora Inc., SAP SE, Oracle Corporation, Cerillion PLC, Salesforce.com, Inc., Zoho Corporation Pvt. Ltd., and CGI, Inc.
By Component
By Service Model
By Billing Type
By Deployment Type
By Enterprise Size
By Vertical
By Geography
Companies Profiled
Unique Offerings 
