The global cloud
billing market is anticipated to witness tremendous growth over the specified
period of time owing to virtualized workplaces and simplified operations.
Increasing popularity of service-oriented culture and consumer-oriented
services among organizations is expected to drive industry growth. Growing
importance of transparency in charging process is expected to favor industry.
These solutions
provide flexibility to up-scale with increase customer base. Benefits such as
scalability and flexibility are anticipated to propel its demand tremendously. Additionally,
low capital and operational expenses, enhanced process, convergence, and
centralization are expected to boast revenue of the industry players.
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Benefit such as
real time management of large amount of data is anticipated to propel the industry
growth over the forecast period. These solutions eliminate over and
under-charging by supporting granular billing, dynamic price plans, and
sophisticated rating, by extending support for variable billable units.
Growing demand
for improved billing operations is a key factor for the growth of the global
cloud billing market. Cost effective solution is expected drive demand in small
and medium businesses. Industry can be segmented based on verticals as retail,
public sector and utilities, Banking & Financial Service & Insurance
(BFSI), telecom, healthcare, IT and media, logistics and transportation.
It can also be
segmented based on type as subscription, embedded, metered, cloud, and
professional service. It can also be segmented on the basis of deployment
models as private, public, and hybrid. Managed service providers, cloud service
providers, and communication service providers & network operators are offering
such solution.
Industry player
may tap customer with merged or bundled service to cater to wide need of customers
with single solution and enhance customer experience.
Asia Pacific is
expected to be key region over the specified period of time owing to popularity
of these services in small and medium business. Benefit such scalability and cost
is expected to play a major role in growth of these solutions worldwide.
Key industry players
include Aria Systems, Amazon Web Services (AWS), Blusynergy, Amdocs, Blueoss,
CSC, Cerillion, and Cloudability, CGI Group. Other prominent vendors include
Comverse, Chargebee, CSG International, Globetom, Comarch, Interworks, Monexa, IBM,
Metratech, Oracle, Mphasis, SAP, NEC Corporation, Redknee, Talligent, Utilibill,
and Zuora.
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