Cloud Billing Market Is Likely to Experience a Tremendous Growth by 2028

The global cloud billing market is anticipated to grow at a considerable CAGR of 17.2% during the forecast period. Billing and maintaining a record of finances is one of the major concerns of all businesses. Cloud billing is the combination of cloud computing and electronic billing, it encompasses billing's functional requirements such as quotes, payment schemes, capturing recurring revenue, and others, as well as non-functional requirements such as security, scalability, and fault tolerance. From a functionality and benefits perspective, cloud-based billing delivers across every aspect from sales to recurring revenue recognition, with more efficiency and accuracy. The integration of cloud billing software and third-party systems provides a single source of information that enables the user to provide a unified customer view across self-service portals, e-commerce sites, sales, and support solutions.

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The demand for cloud-based billing is surging due to the advantages that cloud billing provides. It is a cost-effective way to address financial challenges for many businesses. When a business opts for cloud-based billing software over manual billing and invoices, while enhancing the recurring billing process of companies using the subscription model while saving time. With such software, users can set up accounts designated for recurring payments and notify clients before their payment dates. Billing software also allows for easily setting up a subscription-based business model so that enterprises can retain their customers. It also enables a simple auditing process as all critical details including recurring billings, invoices, subscription-based payments, and monthly income financial reports are generated automatically allowing detailed analysis of every report anytime from the dashboard through automated billing software. Additionally, it also allows to easily assess taxes, liabilities, and expenses which supports the user to get the benefit of tax deductions. For instance, in July 2020, Aria Systems launched the Aria Marketplace Suite, an extension to the Aria billing and monetization platform that enables B2B and B2C marketplace providers to streamline their digital marketplace operations. The suite builds on Aria's billing platform by providing an easy onboarding experience for partners/suppliers, a comprehensive set of product and revenue management tools for marketplace operators, and a seamless billing and payments experience for end customers.

Market Coverage

The market number available for - 2021-2028
Base year- 2021
Forecast period- 2022-2028

Segment Covered- 

By Component
By Billing Type
By Deployment Type
By Service Type 
By End-use

Regions Covered-

North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- including Oracle Corp., Salesforce, Inc., SAP SE, Zuora, Inc., and Aria Systems, Inc., Recurly, Inc., and others.

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Cloud Billing Market Report Segment

By Component

Solutions
Services

By Billing Type

Subscription Type
Usage-Based
Others

By Deployment Type

Private 
Public

By Service Type

IaaS
PaaS
SaaS

By End-use

BFSI
IT & Telecommunication
Education
Healthcare
Consumer Goods and Retail
Others

Cloud Billing Market Report Segment by Region

North America                                                                                                           

United States
Canada

Europe

UK
Germany
Spain
France
Italy
Rest of Europe

Asia-Pacific

India
China
Japan
South Korea
Rest of APAC

Rest of the World

Latin America
Middle East and Africa 

Company Profiles 

AppDirect, Inc.
Aria Systems, Inc.
BillingPlatform
Cerillion Technologies Ltd.
CGI Inc.
CHARGEBEE INC.
Chargify, LLC
CLOUDBILLING
ConnectWise, LLC
Jamcracker, Inc.
ONEBILL
Oracle Corp.
Recurly, Inc.
RecVue, Inc.
Salesforce, Inc.
SAP SE
Zoho Corp.
Zuora, Inc.

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