Cloud Billing Market Growth Accelerates: Strategic Forecast Predicts $20.59 Billion by 2029

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What Will the Cloud Billing Industry Market Size Be by 2025?
The expansion of the cloud billing market has been swift and significant in the last few years. The market, which is projected to be worth $8.66 billion in 2024, is expected to inflate to $9.79 billion in 2025, with a compound annual growth rate (CAGR) of 13.1%. Numerous factors have spurred growth in previous years, including a surge in demand for subscription-based services, business scalability needs, the necessity for centralized and efficient billing systems, the progression of digital transformation efforts, and an escalating need for cost optimization and efficiency in operational processes.

What's the Long-Term Growth Forecast for the Cloud Billing Market Size Through 2029?
Anticipations are high for a significant surge in the cloud billing market size over the upcoming years. The market is predicted to amplify to $20.59 billion by 2029, posting a compound annual growth rate (CAGR) of 20.4%. This growth during the estimated period can be traced back to the rising adoption of hybrid and multi-cloud ecosystems, escalating attention on real-time billing and invoicing, stress on compliance and security in cloud billing, escalating demand for eco-friendly and sustainable cloud billing solutions, and the surge in demand for cloud billing solutions in sectors like retail, healthcare, and telecommunications. Integral trends for the estimated period comprise the implementation of artificial intelligence in billing procedures, the use of blockchain for secure and transparent transactions, the desire for personalized and customizable billing experiences, constant progress in pricing models, and growing partnerships between cloud service providers and billing solution providers.

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What Are the Key Growth Drivers Fueling the Cloud Billing Market Expansion?
The growth of the cloud billing market in the foreseeable future is predicted to be spurred by the increasing demand for reduced capital and operating expenses. The introduction of the cloud has transformed billing from a standalone back-office function into a crucial part of the complete quote-to-cash process. Cloud billing assists companies in cutting costs as well as in providing exceptional customer service. For example, the India Brand Equity Foundation reported in January 2024 that the total public cloud services market in India is projected to hit US$ 17.8 billion by 2027. Consequently, the escalating demand for a decrease in capital and operating costs propels the expansion of the cloud billing market.

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What Are the Key Trends Driving Cloud Billing Market Growth?
The evolution of technology is having a profound impact on the cloud billing sector. To ignite business expansion, a plethora of dominant businesses in this sector are turning their focus towards crafting cutting-edge technological solutions specifically for cloud billing. As an example, in May 2023, FinOps Foundation, a renowned US-based enterprise specializing in cloud-based financial operations, introduced the FinOps Open Cost and Usage Specification (FOCUS). This initiative aims at creating and maintaining an open standard for displaying cloud usage, billing, and pricing data. FOCUS is designed to enhance cooperation among key cloud providers, FinOps tool creators, major SaaS providers, and advanced FinOps organizations, many of which grapple with managing varied terminology, pricing, and billing concepts across multiple billing sources. Furthermore, FOCUS aims to provide a unified, FinOps-friendly format for cloud billing data, as an alternative to the assortment of distinct FinOps tools and platforms each having unique ways of summarizing, standardizing, or representing such data, that are currently in operation.

How Is the Cloud Billing Market Segmented?
The cloud billing market covered in this report is segmented -

1) By Type: Subscription Billing, Metered Billing, Cloud Service Billing, Provisioning, Other Types
2) By Deployment Type: Private Cloud, Public Cloud
3) By Organization Size: Large Enterprises, SMEs
4) By Application: Account Management, Revenue Management, Customer Management, Other Applications
5) By Vertical: BFSI, Telecommunications And ITES, Consumer Goods And Retail, Healthcare and life sciences, Other Verticals

Subsegments:
1) By Subscription Billing: Recurring Payments, Usage-Based Subscriptions, Tiered Subscription Plans
2) By Metered Billing: Pay-As-You-Go Models, Usage Tracking And Reporting, Tiered Usage Pricing
3) By Cloud Service Billing: Infrastructure As A Service (IaaS) Billing, Software As A Service (SaaS) Billing, Platform As A Service (PaaS) Billing
4) By Provisioning: Automated Provisioning Systems, Resource Allocation Management, Service Activation And Deactivation
5) By Other Types: Hybrid Billing Models, One-Time Payment Billing, Free Trial Billing

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Which Companies Are Leading the Charge in Cloud Billing Market Innovation?
Major companies operating in the cloud billing market include Aria System Inc., Amdocs Inc., Oracle Corporation, NEC Corporation, Jamcracker Inc., IBM Corporation, CGI Group Inc., SAP SE, Zuora Inc., BillingPlatform Corp., Recurly Inc., Cerillion plc, ConnectWise LLC, AppDirect Inc., Chargebee Inc., RecVue Inc., Chargify Inc., Salesforce. com Inc., Orbitera Inc., Amazon Web Services Inc., ChargeOver Inc., Fusebill Inc., Chargezoom LLC, Gotransverse Inc., SaaSOptics LLC, Cheddar Inc., PayStand Inc., Invoiced Inc., Zoho Corp., Paddle Ltd.

Which Regions Are Leading the Global Cloud Billing Market in Revenue?
North America was the largest region in the cloud billing market in 2024.Asia-Pacific is expected to be the fastest region in the forecast period. The regions covered in the cloud billing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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