Need to Save Costs on Billing Infrastructure Drives Demand for Cloud Billing, According to a New Report by Global Industry Analysts, Inc.
San Jose, California (PRWEB) May 08, 2015 -- Follow us on LinkedIn – Traditional billing systems for recurring payments are increasingly becoming expensive, complex and data intensive. Factors such as expansion of service portfolios, changing customer subscriptions plans, need to track customer specific discounts and gift vouchers, and multiple tariff tiers are factors that are making billing a complex process. Recurrent billing in a customer-centric business world now requires significant computing resources, and dedicated networking capability. Required functionalities like automated bill generation and online access capabilities are additionally making effective billing management a challenge. High upfront investments and frequent maintenance/upgrades make conventional on- premise billing solutions expensive for service providers. The scenario is poised to benefit the market for cloud billing.
Cloud computing is expected to reshape traditional billing concepts and catalyze vital changes in conventional billing architecture. Defined as a concept that enables highly scalable IT resources, including computing infrastructure and software to be delivered directly over the Internet as a ‘service’, cloud computing is becoming an important technology distribution platform for billing systems. Right from offering billing software as ‘service' to providing computing, storage and related infrastructure platforms over the Internet, cloud billing is ushering in a democratic model of billing that is effective, flexible, agile, and affordable. Cloud billing allows clients to leverage the power of Internet to access and run billing applications directly on the vendor’s network. Key benefits driving the adoption of cloud billing include lower IT costs, reduced need to spend on infrastructure development and maintenance, and the ability to scale up and scale down resources on demand. Key end-user sectors for cloud billing include service providers such as telecom, BFSI, media & broadcast, utilities and other government services. The recurring subscription based billing needs in these sectors are creating an immediate need for inexpensive billing solutions like cloud billing. Public cloud service providers offering IaaS, PaaS and SaaS solutions on a subscription based delivery model also have recurring billing needs. The massively growing cloud computing services market is therefore forecast to spur demand for cloud based billing services among public cloud service companies.
As stated by the new market research report on Cloud Billing, the United States represents the largest market worldwide. Asia-Pacific is forecast to emerge as the fastest growing market with a CAGR of 31% over the analysis period. Growth in the region is led by robust growth in service sectors such as telecom, healthcare, banking and financial services, and public utility services such as water, electricity, and natural gas. Rapid urbanization, economic and community development, rising standards of living and increased consumption of services among the growing base of middle class population, represent key macroeconomic factors that provide a fertile environment for growth in the market.
Major players in the market include Accorto, Amdocs Inc., Amazon Web Services Inc, Aria Systems Inc., BluLogix, BMC Software Inc., Cerillion Technologies Ltd., CGI Group Inc.,Comarch SA, Comverse Inc., CSC, CSG System International Inc., International Business Machines Corporation, MetraTech, Mobilis Networks Limited, Mphasis Limited, NEC Corporation, Oracle Corporation, Redknee Inc., SAP SE, and Zuora Inc.
The research report titled “Cloud Billing: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, company profiles, mergers, acquisitions and other strategic industry activities. The report provides market estimates and projections in US$ for all major geographic markets including the United States, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific, Latin America, and Rest of World. World market for cloud billing is also analyzed by service segments Billing Services for Public Cloud Companies and Billing Services for Enterprises.
For more details about this comprehensive market research report, please click here
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes 1500+ full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
Global Industry Analysts, Inc.
Telephone: 408-528-9966
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Public Relations, Global Industry Analysts, Inc., http://www.StrategyR.com/, +1 408-528-9966, [email protected]
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