(PRWEB) June 06, 2014
In today’s fast-growing market, every organization needs to have an operational structure, which is both cost-effective as well as accessible, for it to thrive and grow. A cloud billing solution is a flexible and scalable billing solution, which supports organizations across verticals, to effectively manage customers and also avoid revenue leakage, if any. Cloud billing solutions are being integrated by various organizations in their business units on a large scale, thus giving great impetus to the cloud billing market. The cloud billing market is expected to grow at a CAGR of 31.9% in the years to come.
Browse through the market data tables, figures and detailed ToC on the “Cloud Billing Market”.
North America Cloud Billing Market
The cloud billing market in North America has achieved technological maturity, and many organizations are adopting this solution to achieve a competitive edge through their billing processes. Due to this factor, the cloud billing market crossed $1.6 billion in 2013 and is expected to reach $5.4 billion by 2018. The cloud billing market is expected to grow at a CAGR of 27.7% from 2013 to 2018. The governments of the North American countries are taking initiative and implementing cloud technologies in various processes, thus resulting in faster growth of the cloud billing market. The top cloud billing companies such as Oracle, IBM, Amdocs, CSC, and SAP, among others, have launched many advanced products and services in the cloud billing market.
European Cloud Billing Market
The European cloud billing market was estimated at $988.7 million in 2013 and is expected to grow at a CAGR of 30.4% from 2013 to 2018. The cloud billing market in Europe is increasing at a high pace, as more and more organizations are in the process of replacing the traditional billing system with the new real-time billing process. This adoption rate is increasing with the endorsement of the cloud billing solution in order to have greater business agility. Thus, the cloud billing market in Europe is expected to reach $3.72 billion by 2018. The top industries providing cloud billing services in Europe include Oracle, Amdocs, IBM, CSC, and SAP, among others.
Asia-Pacific Cloud Billing Market
The Asia-Pacific cloud billing market crossed $435.9 million in 2013 and is expected to reach $2.6 billion by 2018. The cloud billing market of Asia-Pacific is the fastest growing market as compared to other regions, and is expected to grow at a CAGR of 42.9%. This is because the cloud billing solution is being deployed at a very fast rate by companies in the Asia-Pacific region. Industries such as telecommunication are adopting cloud billing systems to leverage their businesses by having a competitive edge over the other cloud service providers. The cloud billing system providers, such as IBM, Oracle, Amdocs, and CSC, among others, are providing customized managed service to these industries.
Latin America Cloud Billing Market
The cloud billing market in Latin America is expected to grow at a CAGR of 36.1% from 2013 to 2018. The market was observed to have crossed $70.3 million in 2013, and is projected to reach $328.7 million by 2018. The cloud billing system is adopted widely in Latin America because the system is easily accessible and flexible. The top players such as Oracle, SAP, IBM, Amdocs, and CSC are investing heavily on cloud billing markets in this region because of the advantages gained from the cloud billing system.
Middle East and African Cloud Billing Market
Organizations in the Middle East and African region have started to adopt the cloud billing process in their businesses. The cloud billing market in MEA was estimated at $98.3 million in 2013 and is expected to reach $464.6 million by 2018. As the companies are getting globalized, new technologies such as subscription-based services are being used to retain customers. The cloud billing market is expected to have higher penetration and implementation MEA region in the coming years. The major players in this market include CSC, Oracle, and IBM, among others.
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