Cloud billing is interpreted as a process that helps enterprises generate bills by applying predefined policies. Authors often define the billing service module by discussing functional requirements such as payment schemes, quote service and others. Non functional requirements such as fault tolerance, security etc. are also covered, when defining the term cloud billing. Emergence of cloud billing market has enabled the much talked about cloud optimized billing element to offer an interface for generating bills. Furthermore, not only for real money the reference can be used for abstract concept currency exchange. However, this mainly depends upon an individuals cloud computing stratagem.
There are several drivers, restraints and opportunities shaping the future of cloud billing market worldwide. The modernization of the billing systems backed by companies understanding, the need for strengthening consumer satisfaction indicates, that the market has a bright future. Enterprises are now parting ways with their traditional systems and blending cloud technology into it. Growing business needs and ever-changing customer preferences have resulted in the adaption of effective business models to re-define agility. The key elements hindering the progress of the industry are on going maintenance and time consumption. Capability to provide usage based pricing plans paired with lean system that tracks resource utilization and complexities in billing related with cost as well as metering, are creating new opportunities for the business.
Furthermore, the market is segmented in terms of applications, types, deployment, geography, service providers and industries. The market by types consists of cloud service billing, metered billing, embedded billing and others. Popular applications of cloud billing include customer management, customer management etc. Besides this, service providers serving the market are segmented into managed service providers, cloud service providers and others. The major deployment models such as public cloud, hybrid cloud as well as private clouds have contributed greatly to the expansion of the cloud billing market. Business vertical such as BFSI, Healthcare, Information Technology etc. depend greatly on this technology. Strong presence of the technology is felt in regions including Latin America, Europe, North America, Asia Pacific, Middle East as well as Africa.
Cloud billing companies are seen expanding their business by adding new products to their existing portfolio. Proven business strategies such as acquisitions, collaborations etc. are helping many companies put forth their brand value successfully. Enterprises are investing generously to maintain a competitive edge in the market. The list of most prominent market players includes Amazon Web Services, Aria Systems,Cerillion Technologies,BMC Software, CSG International, Computer Scie, CGI Group,Blusynergy, Amdocs, Blulogix, Comarch and others.
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Market By Industries
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