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.