A recent report by TMR Research, titled, “Cloud Billing Market â€" Global Industry Analysis, Market Share, Drivers, Restraints, Growth and Forecast 2017â€"2025,†states that cloud billing is gaining traction because of its numerous benefits. It serves to lessen the expenses needed to develop infrastructure and also brings down the IT cost. In this manner, it enables easy scaling up or down of the resources. It also does not require maintenance as the hardware setup is not required.
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Going forward, the global cloud billing market is set to expand further since it is better than traditional billing. The rising uptake of digital channels is projected to generate a greater demand for cloud billing. So far, the telecommunications sector and the ITES sector have been at the forefront of driving the global cloud billing market. This is because it does away with overcharging and undercharging loopholes thus generating a transparent billing and charging process.
Other end use sectors expected to offer a major boost to the global cloud billing market in the near term are the banking and finance sector. Besides, public utility services such as natural water, natural gas, and electricity are also seen leveraging cloud billing.
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Depending upon service delivery, the key segments of the global cloud billing market are Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS). Depending upon deployment, the two main segments of the global cloud billing market are hosted and on-premise. Based on services again, the market can be classified into revenue management, account management, integration, and customer management.
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Prominent participants in the global cloud billing market that have been profiled in the report are Aria Systems, Amazon Web Services (AWS), Comarch SA, Cerllion Technologies Ltd., Amdocs Ltd., and IBM Corporation.
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