Portland, OR, Feb. 09, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cloud billing market garnered $3.9 billion in 2021, and is estimated to generate $15.8 billion by 2031, manifesting a CAGR of 15.3% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $3.9 billion |
| Market Size in 2031 | $15.8 billion |
| CAGR | 15.3% |
| No. of Pages in Report | 321 |
| Segments covered | component, billing type, deployment type, service model, enterprise size, industry vertical, and region |
| Drivers | Adoption of IoT technology in cloud billing in process industries Increasing demand for adoption of IoT system in industries Need for lower operational and administration expenditure Need for lower OPEX and CAPEX |
| Opportunities | Growing need among enterprises to leverage BI |
| Restraints | Increasing cyberattacks and data theft activities High cost for investment compared with on premises billing |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a positive impact on the growth of the global cloud billing market.
- Sales of cloud billing system systems, particularly usage-based pricing, have gained appeal as businesses adjust their budgets and preferences in order to survive the pandemic.
The research provides detailed segmentation of the global cloud billing market based on component, billing type, deployment type, service model, enterprise size, industry vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
Based on deployment type, the public cloud segment held the highest share in 2021, accounting for nearly half of the global cloud billing market, and is expected to continue its leadership status during the forecast period. However, the private cloud segment is expected to register the highest CAGR of 18.7% from 2022 to 2031.
Based on service model, the SaaS segment accounted for the highest share in 2021, contributing to more than half of the global cloud billing market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the PaaS segment is expected to manifest the highest CAGR of 18.5% from 2022 to 2031.
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Based on enterprise size, the large enterprises segment accounted for the highest share in 2021, holding nearly two-thirds of the global cloud billing market, and is expected to continue its leadership status during the forecast period. However, the small and medium-sized enterprises segment is estimated to grow at the highest CAGR of 17.0% during the forecast period.
Based on region, North America held the largest share in 2021, contributing to nearly two-fifths of the global cloud billing market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 18.6% during the forecast period. The research also analyzes regions including North America and Asia-Pacific.
Leading market players of the global cloud billing market analyzed in the research include Cerillion, Recurly, Inc., Amazon Web Services, Inc., Chargify LLC., SAP, Maxio LLC., Oracle, Zuora, Inc., Aria Systems, Inc., ConnectWise, LLC.
The report provides a detailed analysis of these key players of the global cloud billing market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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About Us
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
