Cloud computing or internet based computing offers the much needed flexibility and disaster recovery protection for businesses. As a result, small and large businesses are quickly adopting these services. Cloud billing is one of the budding platforms offered by cloud computing services. These are cloud-optimized billing services that provide a flexible interface, which businesses can use to generate usage bills. These bills are generated based on predefined billing policies that do not necessarily specify using a particular economic model. Global cloud billing market is expected to make tremendous growth during the next few years. Thanks to the keen interest and impressive investments of small and large organizations and technological advancements in the industry are contributing to the growth of the market.
Cloud Billing Industry Components
Rapid adoption is a strong sign for the global market for these services. These services address the requirements of changing the existing business models with monetizing the services with cloud technology. Cloud billing market helps merging convergent billing with cloud computing and offer high-tech billing systems that are user-friendly and convenient. As a result, there is a leap in demand as well as technological advancements in the industry. All these factors influence various aspects and components of the market. Studying all these segments is vital for critical analysis and market research reports for cloud billing industry. Basic segments in the industry are based on the types of delivery and deployment and billing models. All these segments are further divided into several significant sub-segments.
- Billing Models: Direct to customer or D2C and direct
- Delivery Models: IaaS, SaaS and PaaS
- Deployment Models: Hosted and on premise
Forecasting Results from 2013 to 2018
With increasing demand and rapidly changing technology, the cloud billing market is gaining momentum with each passing day. All these segments in the industry are witnessing strong growth particularly due to rising awareness about the convenience, flexibility and cost effectiveness of these billing services. Increasing interest of small and medium businesses and significant investments from large enterprises is also creating better business opportunities for existing and potential companies from different parts of the world. As a result, experts expect cloud billing market to grow at an expected CAGR of over 31% during the forecasting period of over four to five years. According to the latest reports, the industry is expected to grow from $2.4 billion in 2013 and become worth more than $9.58 billion in 2018.