Cloud Billing Market Size Worth $20.41 Billion By 2032 | CAGR: 16.30%

The global cloud billing market size is expected to reach USD 20.41 billion by 2032, according to a new study by Polaris Market Research. The report “Cloud Billing Market Share, Size, Trends, Industry Analysis Report, By Component (Solutions, Services); By Billing Type; By Deployment Type; By Service Model; By Organization Size; By Vertical; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The growing investment in cloud billing is indeed fueling the growth of the cloud billing market. Cloud cost management company, CloudZero, has secured a USD 32 million investment, marking a significant milestone in the evolution of the cloud cost management sector. This investment represents a new era for cloud cost management and has the potential to impact the market. This investment can stimulate increased competition among cloud cost management providers. This competition fosters innovation and drives companies to differentiate themselves by offering unique features and services. As a result, customers benefit from a broader range of options and more advanced cloud billing solutions.

Security measures in cloud billing instill trust and confidence among businesses. When organizations have assurances that their payment data and transactions are protected, they are more inclined to adopt cloud billing services. The introduction of AWS' new cryptographic solution for secure payment processing in the cloud has the potential to drive the growth of the market.  The cryptographic solution provides a higher level of security for payment processing in the cloud. This creates further research by organizations on security features in cloud billing.

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The growing new innovations in cloud billing are indeed fueling the growth of the market. Cloud billing innovations enable the development of more flexible pricing models. Cloud service providers are continually introducing new pricing structures and options that align with customer needs. For instance, Oracle introduced additional functionalities that allow businesses to conveniently view and manage their cloud subscriptions and billing within the Oracle Cloud Console.

Cloud Billing Market Report Highlights

• Solutions segment is anticipated to witness faster growth in the coming years due to its cost management capabilities.
• Usage-based segment accounted for the larger market share as it is offering cost efficiency and flexibility.
• Public Cloud segment is projected to experience a larger revenue share due to the scalability and innovation.
• SaaS segment is expected to have higher growth owing to subscription-based billing model and focus on core competencies.
• North America is expected to grow larger revenue share owing to the growing cloud adoption rate.
• The global players include Zuora, Chargebee, Aria Systems, Recurly, Stripe, Salesforce, Oracle, SAP, Microsoft, AWS, Google Cloud Platform, Chargify, Cerillion, Gotransverse, CloudBilling, BillingPlatform, & Fusebill.

Polaris Market Research has segmented the cloud billing market report based on component, billing type, deployment type, service model, organization size, vertical and region:

Cloud Billing, Component Outlook (Revenue - USD Billion, 2019 - 2032)

• Solutions
• Services

Cloud Billing, Billing Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Subscription
• Usage-based
• One-Time
• Others

Cloud Billing, Deployment Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Private Cloud
• Public Cloud

Cloud Billing, Service Model Outlook (Revenue - USD Billion, 2019 - 2032)

• IaaS
• PaaS
• SaaS

Cloud Billing, Organization Size Outlook (Revenue - USD Billion, 2019 - 2032)

• Large Enterprises
• SMEs

Cloud Billing, Vertical Outlook (Revenue - USD Billion, 2019 - 2032)

• BFSI
• IT
• Telecommunications
• Education
• Consumer Goods & Retail
• Media & Entertainment
• Healthcare
• Others

Cloud Billing, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America
  • U.S.
  • Canada
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa

Cloud Billing Market Report Scope