DALLAS, August 16, 2013 /PRNewswire/ --
The report "Cloud Billing Market [By Solution (Billing of Cloud Services, Billing Services on Cloud), By Delivery (SaaS, PaaS, IaaS), By Users (SMB, Enterprises)]: Global Advancements, Market Forecasts & Analysis (2013-2018)", defines and segments the Cloud Billing Market into various sub-segments with an in-depth analysis and forecasting of revenues. The report also identifies the factors driving this market, various restraints and opportunities impacting it along with the technology roadmap and adoption trends.
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The need for cost effective business processes is soaring as organizations aim to gain a competitive edge in the industry. Cloud billing solutions ensure cost efficiency as it reduces the IT resources and infrastructure required for the billing function. As businesses realize the impact of efficient billing processes on customer satisfaction and retention, the demand for cloud billing solutions is increasing. While organizations across the verticals look forward to integrate the cloud billing solutions into their mainstream work scenarios, the billing solution providers aim to gain competitive advantage in the emerging market by designing feature rich solutions and better visibility by undertaking innovative marketing strategies such as referral programs and free trials. Major forces driving the Cloud Billing Market are the increasing Capex pressure, businesses adopting service oriented culture and offering consumer oriented services, the reporting feasibility the cloud billing solutions deliver and the market trend of employing cloud technology.
MarketsandMarkets broadly segments the Cloud Billing Market for Billing Solutions for Cloud Services by:
For the Billing Services on Cloud Services, the segmentation is by:
The Cloud Billing Market is also segmented by type of services:
MarketsandMarkets believes that the need to increase business agility, along with cost control measures is playing a key role in embodying the cloud billing market. Though the adoption of these solutions is gradual due to concerns of loss of data and third party dependence, these solutions are expected to experience a tremendous growth, owing to the evolution of cloud and growing demand for automation of billing processes as a result of pricing intricacies. The assimilation of cloud billing solutions within the existing organizational framework will further amplify the growth of businesses by embedding best practices for consistency and accuracy of operations.
MarketsandMarkets forecasts the Cloud Billing Market to grow from $2.4 billion in 2013 to $9.58 billion in 2018, at a CAGR of 31.9% during the forecast period. In terms of geographies, North America (NA) is expected to be the biggest market in terms of revenue contribution, while Asia-Pacific (APAC) is expected to experience increased market traction, during the forecast period.
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