[April 10, 2017]

Global $25.46 Billion Cloud Billing Market Insights, Opportunity, Analysis 2017-2023 - Research and Markets

Research and Markets has announced the addition of the "Global Cloud Billing Market Insights, Opportunity, Analysis, Market Shares And Forecast 2017 - 2023" report to their offering.

Increasing demand for the billing system which requires low operation cost and capital requirement has fueled the cloud billing system around the world. Cloud billing market in 2016 was of $ 5.68 billion and estimated to be of $25.46 billion in 2023 with CAGR of 23.9%.

There has been an increase in the adoption of the cloud billing especially in the Asia Pacific region. Growth in the Asia Pacific region is due to the development of banking sectors, healthcare, telecom and financial services. Other than this, there has been an increase in the use of public service such as electricity, natural gas, and water billing system. Rapid urbanization has been one of the major factors that has played a role in the increasing adoption of cloud billing. Growing middle class market in the developig countries, increase in use of e-payment, use of the internet due to the availability of the internet services at low cost has fueled the market.

Players in the cloud billing market are Zoura, Key innovator, CGI Group (News - Alert), SAP SE, Aria System, Amdoc's Inc, International Business Machine Corporation, Nec Corporation, Amazon Web Service Corporation, And Computer Science Corporation.

Market Determinants

Market Drivers

• Need for the System Which Require Low Capital And Less Operating Cost

Growing Demand for the Billing Operation

• Increasing Demand for Centralized Billing Solution

Market Restraints

• Change in Technology. Time Consuming Transition Continuous Change In Technology.

Market Opportunities

• CRM demand is Increasing in Market
• Growing Demand for Real Time Billing

Market Challenges

• Lack of Awareness
• Lack of Security

Companies Mentioned

• Amazon Web Services (News - Alert)
• Amdocs Inc.
• Aria System
• Blue Synergy
• CGI Group
• Co Computer Science Corporation
• International Business Machine Corporation
• Magnaquest
• Mule Soft
• Nec Corporation
• Oracle (News - Alert) Corporation
• Sap Se
• Zoura Inc.

For more information about this report visit http://www.researchandmarkets.com/research/xhrstq/global_cloud

View source version on businesswire.com: http://www.businesswire.com/news/home/20170410005992/en/

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