Ubiquity of Cloud Technology to Spur Telecom Cloud Billing Market

Cloud telecom billing is an effective process for charging data and voice mails through tracking, authentication and analysis. This cloud-based solution meets the increasing need for quick business support in telecommunications operators ‘ billing process. Cloud telecommunications billing offers customer management, account management, revenue management, and many more to several companies and governmental organizations. Cloud software offers the entire market through a range of services.

The increased use of telecommunications services has led to a strong need for billing systems. Growth is on the way to supporting a wide range of customers for online payment transactions, with OSS and Business Support System (BSS) solutions growing.

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Need to Reduce IT Infrastructure to Fuel Market

Cloud billing solutions have ensured cost-effectiveness because they reduce IT infrastructure and resources, which are used by most cloud services industries. They have several advantages including improving the transparency of billing and charging, flexibility to upgrade, improved customer performance, and virtualized places of work and simpler operation. These services are flexible and therefore offer opportunities across different vertical lines that help drive the market for cloud billing.

The global telecom cloud billing market has great opportunities for growth over the expected time frame; however, factors such as the continued use of legacy systems and stringent telecoms regulations are anticipated to hinder growth in established markets.

New product Launches to Accelerate Growth Opportunities

Telecom service providers ‘ growing focus is further anticipated to drive the growth of the Telecom Cloud billing market due to the increased demand across their pre-paid customer segment. A growing industry competition has encouraged operator companies with various payment options to offer value added services (VAS, prepaid, postpaid, data, voice, Internet Protocol Television (IPTV) and Voice over the Internet Protocol (VOIP).

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Recently, AT&T deployed White Box Hardware in their cell tower to enable the 5G era. Such instances are likely to support the growth of telecom cloud billing market in the coming years.

Global Cloud Billing Market Boosted by Flexibility in Scaling it Offers

San Francisco, California, October 03, 2018: A recent report by TMR Research, titled, “Cloud Billing Market – Global Industry Analysis, Market Share, Drivers, Restraints, Growth and Forecast 2017–2025,” states that cloud billing is gaining traction because of its numerous benefits. It serves to lessen the expenses needed to develop infrastructure and also brings down the IT cost. In this manner, it enables easy scaling up or down of the resources. It also does not require maintenance as the hardware setup is not required.
Going forward, the global cloud billing market is set to expand further since it is better than traditional billing. The rising uptake of digital channels is projected to generate a greater demand for cloud billing. So far, the telecommunications sector and the ITES sector have been at the forefront of driving the global cloud billing market. This is because it does away with overcharging and undercharging loopholes thus generating a transparent billing and charging process.

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Other end use sectors expected to offer a major boost to the global cloud billing market in the near term are the banking and finance sector. Besides, public utility services such as natural water, natural gas, and electricity are also seen leveraging cloud billing.
Depending upon service delivery, the key segments of the global cloud billing market are Infrastructure as a Service (IaaS), Software as a Service (SaaS), and Platform as a Service (PaaS). Depending upon deployment, the two main segments of the global cloud billing market are hosted and on-premise. Based on services again, the market can be classified into revenue management, account management, integration, and customer management.
Prominent participants in the global cloud billing market that have been profiled in the report are Aria Systems, Amazon Web Services (AWS), Comarch SA, Cerllion Technologies Ltd., Amdocs Ltd., and IBM Corporation.

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Cloud Billing Market Display Double-digit CAGR by 2025

Cloud Billing Market: Snapshot

As companies focus on customer retention and taking feedbacks from customers and improvising their services and products, the demand for cloud billing for customer management will grow at a remarkable pace. The increasing need for reducing operating expenditure is fueling the demand for cloud billing. The media and entertainment is expected to be a lucrative segment in the cloud billing market in the coming years. The growing adoption of digital channels is anticipated to create a heightened demand for cloud billing. Furthermore, the ITES sector and the telecommunications sector have been known to be in the forefront of adopting cloud based technologies to be able to provide better service to customers. Thus, these two sectors will drive the global cloud billing market.

Cloud billing reduces the expenses to develop infrastructure and also reduces IT cost, thus driving their demand. Cloud billing allows the ability to scale up or scale down the resources as per demand and also reduces the hassles of maintenance. Thus, the adoption rates of cloud billing are expected to increase over the years. The telecom, banking, and finance sector are making use of cloud billing and benefitting extensively. Public utility services such as natural gas, water, and electricity are also deploying cloud billing, thus driving the market. Overall, the market’s progress can be attributed to urbanization, economic development, growing standards of living, and increasing use of various services by middle class population base.

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Global Cloud Billing Market: Overview

Cloud billing involves traditional billing combined with cloud technology. It is a billing solution for both digital as well as non-digital services. The cloud billing solutions are aimed to automate the billing process, create virtual workplaces, and enrich customer experience. The deployment of cloud billing solutions offers enhanced flexibility to customers and helps in revenue generation for anytime, anywhere services. This eliminates undercharging and overcharging loopholes, resulting in transparent billing and charging process. Thus, cloud billing solutions capacitate organizations across different industry verticals to increase revenue and manage its customers effectively.

Global Cloud Billing Market: Drivers and Restraints

The rising demand to increase business flexibility combined with cost control stipulations are some of the prominent factors driving the cloud billing market. Cloud billing solutions offer benefits of cloud technology and effectively address the requirements of changing business models, which is leading to its increased adoption across several industry verticals. These billing solutions are scalable and allow streamlining of the billing process, thus improving customer satisfaction. Cloud billing solutions also lower upfront costs since real-time, multi-tenant billing systems are maintained by third-party services. Apart from cost benefits. Cloud billing solutions enable billing accuracy and management of large volume of data in real-time.

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However, the adoption rate of these solutions has been sluggish in the recent years due to concerns over data loss and over dependence on third-party service providers. Nevertheless, these solutions are expected to display a significant demand due to the increasing demand for automated billing processes and development of cloud-based services. The integration of current organizational framework with cloud billing solution is expected to benefit businesses by means of incorporation of best practices for consistent and accurate operations. These benefits will result in the global cloud billing market to display double-digit CAGR from 2017 and 2025.

Global Cloud Billing Market: Market Segmentation

The cloud billing market is segmented on the basis of deployment model, service delivery, service, end-use vertical, and geography. By service delivery, Software as a Service (SaaS), Infrastructure as a Service (IaaS), and Platform as a Service (PaaS) are the segments of the market. On the basis of deployment model, on-premise and hosted are the segments of the global cloud billing market. On the basis of service, account management, revenue management, customer management, and integration are the segments of the market. By end-use vertical, banking, Financial Services and Insurance (BFSI), public sector and utilities, information technology and media, retail, telecommunication, healthcare, and transportation and logistics are the segments of the cloud billing market. Geography-wise, North America, Europe, Asia Pacific, and Rest of the World are segments of the market.

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Major Companies Mentioned in Report

The report provides a vendor landscape of the global cloud billing market with a detailed competitive profile of leading companies operating in the market. Some of the leading companies operating in the global cloud billing market are Amazon Web Services (AWS), Aria Systems, Cerllion Technologies Ltd, Comarch SA, IBM Corporation, NEC Corporation, SAP AG, Amdocs Ltd, BMC Software Inc., CGI Group Inc., Comverse Inc., Mphasis, and Oracle Corporation among others.

Trend of Paperless Billing to Drive Cloud Billing Market

San Francisco, California, June 19, 2017: TMR Research in its latest report, studies the global cloud billing market. The report is titled “Cloud Billing Market – Global Industry Analysis, Market Share, Drivers, Restraints, Growth and Forecast 2017 – 2025.” According to the report, the need for effectively managing business processes in a cost friendly manner will drive the demand for cloud billing in large organizations. As organizations seek to gain competitive advantage over their rivals, cloud billing will be the technology they seek as it reduces the requirement for resources and IT infrastructure, thereby saving large costs, which can be put to use to expand their business or further investments. With advantages such as transparent billing and charging processes, virtual workplace, improved performance, flexibility to up-scale when the need arises, and ease of operations, the demand for cloud billing will witness a new high.

Owing to the flexibility of cloud billing services, potential opportunities across verticals have been created and this will push the demand for cloud billing. The emergence of cloud computing as an IT strategy will create growth opportunities for cloud billing market. As the telecom industry has complex billing requirements, it will serve as the most lucrative end use market for the cloud billing industry. Growing applications in the government sector are also anticipated to create opportunities in the cloud billing market. Cloud billing solutions are witnessing a high demand and shall continue to do so, on account of the accuracy in billing, which they offer. Cloud billing also enables the effective management of large volumes of data in real time. All these factors are estimated to boost the growth of this market worldwide.

Today, customer feedback and retention have become very important for companies and organizations, and thus, the customer management application in the cloud billing market will witness a growth. Cloud billing not only helps in customer retention but also establishes a healthy company to customer relationship. In addition to this, the trend of paperless billing is encouraging the adoption of cloud billing. On the other hand, data security will pose a challenge for the cloud billing market. However, the number of benefits associated with cloud billing outnumbers the challenges of this technology, and thus, the market is anticipated to witness a stupendous growth during the period from 2017 to 2025.

The report profiles key vendors operating in the global cloud billing services. They are: NEC Corporation, Oracle Corporation, IBM Corporation, Aria Systems, Mphasis, Amazon Web Services (AWS), Cerllion Technologies Ltd, BMC Software Inc., CGI Group Inc., Comarch SA, SAP AG, Amdocs Ltd, and Comverse Inc.