Demand for the convergent and centralized billing solution for billing operation and to minimize the operating expenditure there is rise in the demand of the cloud billing. It is used for paying the bill or to purchase any item such as movie tickets. Market of the cloud billing has been estimated to increase with the CAGR of 23.9% and will be of $ 25.46 billion in the 2023.
Key drivers which are driving the market are increase demand for the convergent and centralized billing solution, need for lower and opex and capex, high demand for the bills operation. One of the key factors that has driven the market especially in the developing countries is the digitalization of the system. Government initiative by launching the programme of digital India which aim to convert the traditional system such as manually going to bank for the services one should be able to deal through digital platform such as computer system, mobiles, tablet and personal computer system. For this government has upgraded the telecommunication system for example 3G and 4G services are been provided by the government and other private company at very low cost. Other than these government is aiming to spread the telecommunication network in the remote area as because huge number of the population reside in the village. Due to use of this technology there will be saving in the operation costs as less paper work is to be done. Data is collected, store and administered on the cloud platform which will further decrease the cost which is conventional method of storing the data.
Segmentation of the cloud billing market is done on the basis of the type, application, and providers. On the basis of the application it is sub segmented as metered billing, subscription billing, provisioning cloud service billing and others. Cloud service is further classified as platform as the service, platform as service, software as the service. On the basis of the application segmentation is done as account management, customer management, revenue management, and others. On the basis of the providers segmentation is done as cloud service providers, telecom and communication service providers, and manage service providers. On the basis of the size of the organization segmentation is done as small size organization and large size segmentation. Subscription billing is the system which is used to bill the customer at that time to determine service and product which they receive. For example monthly invoice of the internet access for newspaper archives. Other common uses of is downloading of the game, digital download, e-book. In the market there are many companies which provide the subscription billing for the online apps which is integrated with the all online gate away payments. Another is Zora cloud technology which help the firms to build the business model by cultivating, monetizing and establishing customer relationship.
Major players of the market are Amazon Web Service Inc, Computer Science Cooperation, International Business Machine, NEC Corporation, Oracle Corporation, Amdocainc, Aria System Inc, CGI Group Inc, SAP Se, Zourainc, And Key Innovator. Amazon web service offers the infrastructure such as storage, computing, content delivery, networking service and database. Networking services such as platform service that include application, analytics, enterprise, mobile service and internet of things. Internet of Things include management tool, developer tool, application service and security and identity service. Company provide backup and recovery, cloud solution for the website, disaster recovery, archiving, development and test, disaster recovery, high performance computing, ecommerce media, mobile service, IT business, game, and health services.
In the developed and developing countries use of the cloud billing has risen due to the increasing internet facility and adoption of the same. Another factor is that advancement in the technology say mobile phones, approximately 80% of US population is using mobile phones. Cloud billing technology has made the billing and payment system easy and time saving. Payments can be done from anywhere by the platform which support the cloud billing such as smart phones. In developed country such as China there is huge cloud billing system due to 3G/4G technology. Due to the increasing internet facility, increasing number of user combined with increase in the business services has resulted in the growing number of users. In the developing countries such as India there has been increase of the use of cloud billing system in last few years. Many companies are providing this service such as PATYM, MOBIWIK, Payu money, Payzippy, etc. Factor which has increased the adoption of this services is increasing digitalization in India. From the conventional method of paying, people are shifting towards the e-payment system.
Major Constraint to this market is that people still don’t think it is safer way for the transaction for doing business, as there has been frequent attacks of the hackers in the personal domain.