Cloud Monetization Market: Rise In Demand For Backup And Recovery Services Is Key Factor Driving The Demand

Industry Insights Technology

Cloud monetization offers a revenue management system for digital service providers by delivering hosted services through the Internet with significant cost benefits and on-demand access to any service or resource in any volume. It is used to manage customer relationships, create customer accounts, charge for services, and analyze and collect revenue. Gemalto Inc. offers a Sentinel Cloud, a cloud-based licensing and enforcement solution, for cloud monetization. Currently, many enterprises have started investing in cloud services by either subscribing to external public cloud or virtual private cloud services or by running an internal private cloud. Most enterprises prefer the private cloud model for compliance and security purposes. Cloud monetization offers various benefits such as security, scalability, and operational simplicity. It also improves customer retention by delivering flexible monetization cloud billing models.

The global cloud monetization market is primarily driven by the increase in demand from enterprises for a single bill that includes all cloud services and cloud-specific service level agreements (SLAs). Additionally, expansion of managed and professional services for cloud monetization is expected to boost the demand for cloud monetization across the globe. Rise in focus on generating recurring revenue by enterprises is also driving the demand for cloud monetization across the globe.

Currently, increase in demand for secure, scalable, and reliable solution for cloud billing is anticipated to boost the demand for cloud monetization globally. Increase in demand for developing long customer relationship by enterprises is another key factor driving the global market. Cloud monetization reduces risk and time by providing simplified and easy-to-use cloud billing model. This is boosting the demand for cloud object storage globally. Rise in demand for backup and recovery services is another key factor driving the demand for cloud monetization market across the globe. However, high cost of cloud billing model or subscription is estimated to hamper the demand for cloud monetization in the near future.

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The global cloud monetization market can be segmented based on cloud platform, services, deployment, enterprise size, industry, and region. In terms of cloud platform, the market can be classified into software as a service, infrastructure as a service, and platform as a service. In terms of service, the market can be classified into professional services and maintenance services. The professional services segment can be further classified into support & maintenance, integration & deployment, and consulting.

Based on deployment, the cloud monetization market can be bifurcated into cloud based and on-premise. The cloud based segment can be further sub-segmented into public cloud, private cloud, hybrid cloud, and community cloud. In terms of enterprise size, the market can be divided into small & medium enterprises and large enterprises. In terms of industry, the global cloud monetization market can be segregated into travel & logistics, banking, financial services & insurance (BFSI); healthcare; IT & telecom; e-commerce & retail; and manufacturing.

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Based on region, the global cloud monetization market can be split into Middle East & Africa, Europe, North America, South America, and Asia Pacific. The market in North America is estimated to expand at a substantial pace during the forecast period due to the presence of established vendors of cloud monetization in the region. The cloud monetization market in Asia Pacific is projected to expand at a significant pace during the forecast period. The region is estimated to create attractive opportunities in the cloud monetization market in the near future. Increase in urbanization and advancement of technologies are propelling the demand for cloud monetization in Asia Pacific. Rise in awareness about the recurring revenue by use of cloud billing is boosting the cloud monetization market in Asia Pacific.

Major players operating in the global cloud monetization market include Aria Systems, Inc., Oracle Corporation, Comverse Technology, Inc., AppDirect, Inc., Computer Associates International, Inc., SAP SE, Hewlett-Packard Enterprise, Cisco Systems, Aspire Systems, and Gemalto Inc.

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Lisa Smith

Lisa Smith is a specialist in search engine optimized (SEO) content with a wealth of experience gathered from working in leading market research firms. Currently, she is the Team Lead for the SEO department at Transparency Market Research. In the said role, she has actively contributed to building a winning content strategy leveraging right keywords, link building, market research and analysis, and competitor analysis. Lisa has a Bachelor’s Degree in Computer Science from Nagpur University and a Master’s degree in Business Administration.

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