Amazon Web Service, Oracle and IBM are considered top in the cloud billing market

It is expected that the Global Cloud Billing Market to reach $9.3 billion by 2022. It is a combination of the annual growth rate (CAGR) of more than the 19 percent with the Amazon Web Service, Oracle and IBM which are the major players in the Cloud Market. 
According to the report by the IndustryARC where the other players consist of Computer Science Corp. and NEC. These Industry Giants are implementing different strategies initiatives which also include partnerships, product launches, collaborations and acquisitions to gain market share. 

Cloud billing tracks the recurring revenue from the new digital services in the cloud market. Public Cloud is increasingly adopted by the SMEs because of the high capital cost of in-house data centers is the major reason for optimizing the cost so that they can focus more on their core part of their business which will ultimately increase the performance. 

The Cloud Market is going to provide various services on several platforms by providing various applications in different types of industries such as financial, insurance and banking whereas it also going to facilitate their services in Retails, public sector and utilities, education and many others. It is also estimated that Telecom is also going continue the dominance in the Cloud billing market which is expected to reach nearly $2.2 billion by the end of the year 2022. 

North America is the place where it is the largest cloud billing market due to its higher demand and the need for such technologies in various retails functions. Europe and Asia Pacific follow after North America. It is projected that Asia Pacific is going to have the fastest growth rate in the expected growth period because of the rapid development of the retail business network and technological growth adoption in various business practices in the major developing technologies such as India and China. India is coming forth in the Cloud market and adapting to the rapid changes in the technology which will help in increasing the growth rate of the adoption of Amazon Web Service.