According to new market research report on"Cloud Billing Market by Component (Solutions, Services), Billing Type (Subscription, Usage-Based, One-Time, Others), Deployment Type, Service Model (IaaS, PaaS, SaaS), Organization Size, Vertical, and Region - Global Forecast to 2025",  published by MarketsandMarkets™, the Cloud Billing Market size is expected to grow from USD 3.0 billion in 2020 to USD 6.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.6% during the forecast period.The key factors that are expected to drive the growth of the market are the need for lower OPEX and CAPEX and increasing revenue leakages across industries.Browse and in-depth TOC on “Cloud Billing Market”205  – Tables42 - Figures207 - Pages            Download PDF Brochure@ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1022 Solutions segment to hold a larger market size during the forecast periodCloud billing solutions are tools that perform the billing of cloud-based software and infrastructure and act as a single source of invoicing.

Cloud billing solutions include features such as the ability to easily accommodate new SKUs or pricing changes, calculate usage charges, and track third-party billing & payouts.

For instance, it can combine solutions such as Microsoft Office 365, Azure, and Cisco into one billing engine and eliminate disparate portals and invoices.SMEs segment to grow at the highest CAGR during the forecast periodOrganizations with less than 1,000 employees are categorized under the SMEs segment.

They have a low marketing budget and often lack the resources and capabilities required for effective marketing orchestration.

SMEs, with their limited marketing budget, try to scale up their business through cost-effective marketing techniques to generate maximum RoI from their marketing spend.

The various factors driving this adoption are the rising purchasing power of customers and the increasing customer expectations, leading to existing customer retention and new customer acquisition.