The cloud billing software market has experienced dynamic changes in recent years due to the continuously changing and shifting trends in billing. Cloud billing is the process of generating bills from the resource usage data using a set of predefined billing policies. The growth in subscription and recurring revenue models has greatly influenced the cloud billing space.
Moreover, subscription and recurring revenue models have many benefits, including predictable and measurable revenue, higher levels of customer retention, access to growth, and increasing sales and profit margins.
Demand for accuracy, automation, lower operation expenses, efficiency, and centralization are anticipated to favor the cloud billing software market growth. The cloud billing market is primarily driven by increasing adoption of cloud services. Increasing mobile penetration and consumer base in emerging economies are anticipated to drive the market. Increase in the number of mobile applications for billing is also contributing the growth of cloud billing software market. In addition, growing need for effective billing software for small businesses is one of the growth drivers for cloud billing software market. Benefits such as error minimization in billing, flexibility, transparency in billing and scalability are expected to boost cloud billing software market demand. The market is experiencing high growth due to its customer-centric approach. Global adoption of cloud billing software across all industries for digital and non-digital service is expected to enhance its growth in future. Outsourcing of telecom billing by small and medium-sized telecom operators and increased use of mobile wallet is one of the interesting trends that have gained popularity in recent times.
Higher maintenance charge and heavy competition in the global telecom billing software market propels the growth of the market. Increasing adoption of cloud billing software across all industry verticals, the need to have an efficient and transparent mechanism for cloud billing has increased. Cloud service providers offer dynamic services, in addition to the varying requirement of the cloud users. Key players include Amazon Web Service, Inc. (U.S.), IBM Corporation (U.S.), Aria System, Inc (U.S.), Oracle Corporation (U.S.), Ericsson AB(Sweden), Amdocs, Inc. (Israel), Accenture (Dublin), SAP SE (Germany), NEC Corporation (Japan),Huawei Technologies Co., Ltd.(China), Hewlett-Packard (HP) and CSG International(US).
March 6, 2018- Aria Systems, the leader in cloud billing software, announced that Telstra, Australia’s leading telecommunications company, has selected Aria’s monetization platform to automate billing processes, increase customer self-service options, and accelerate the delivery of new products.
Jul 29, 2014- Ericsson AB announced the acquisition of US-based MetraTech Corp. to improve its cloud and enterprise billing capabilities.
The regions covered in this report are North America (NA), Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and Latin America (LA). Asia-Pacific (APAC) is expecting to experience the growth over a specified period of time owing to the adoption of these services in small and medium business. Increasing technological adoptions within the telecommunication industry and emerging markets such as India, China with greater subscriber growth is expected to provide numerous opportunities for this market to grow. APAC will provide a significant opportunity for cloud billing services companies in the region through 2019.
Cloud billing software market:
On the basis of type:
On the basis of deployment type
On the basis of vertical application
On the basis of Application
On the basis of Geography
Middle East& Africa
Key Market Players
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