16-Jan-2020 | Facts and Factors
Facts and Factors Market Research has published a new report titled “IoT Billing & Invoicing Solutions Market By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Enterprises and SMEs), and By Vertical (Automotive, Telecommunication, Retail, Healthcare, Logistics & Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027”. According to the report, the global IoT billing & invoicing solutions market was valued approximately USD 4,448 million in 2018 and is expected to reach a value of around USD 32,984 million by 2027, at a CAGR of around 25.2% between 2019 and 2027.
Internet of Things (IoT) is highly valuable and efficient across various industry verticals. Today, IoT is present everywhere for transforming homes, organizations, training, and urban communities, among other uses. Distinctive business capacities are integrated with IoT, be it incentive management or client relationship administration. One such business work is billing and invoicing. The billing and invoicing software is a vital asset for any company, as it manages the cash. With IoT application, the billing and invoicing system have resulted to be immensely productive and fast. IoT billing and invoicing systems allow the clients to gather information and bill any kind of event or action, as per their plan of action. IoT billing and invoicing solution can receipt, charge, gather, and rate information endlessly with negligible human intervention to deliver great output.
Browse the full “IoT Billing & Invoicing Solutions Market By Deployment Mode (Cloud and On-Premises), By Organization Size (Large Enterprises and SMEs), and By Vertical (Automotive, Telecommunication, Retail, Healthcare, Logistics & Transportation, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018–2027” Report at https://www.fnfresearch.com/iot-billing-invoicing-solutions-market-by-deployment-mode-174
Seamless and stress-free accounting majorly driving the IoT billing & invoicing solutions market
The primary growth driver of the IoT billing & invoicing solutions market is that these solutions help businesses to have a stress-free, hassle-free, and seamless accounting experience. The technological aid in the connectivity of business ledgers worldwide for a company makes their accounting processes hassle-free. These ledgers are updated with real-time data with the help of IoT, which reduces all the effort related to paperwork along with saving time. Moreover, the price quotations are accurate in comparison to the ones derived manually without any computerized analysis. The use of IoT in billing aids connected tools to analyze, consolidate, and store the real-time data, which empowers the business. This is possible due to IoT’s conjunction with online billing software. Thus, convenience is the primary selling point of IoT billing systems.
The on-premises segment is projected to dominate the deployment mode segment
In 2018, the on-premise systems segment held more than 65% of share in the IoT billing & invoicing solutions market. It is also estimated to grow at CAGR of 24% over the forecast period.
The retail segment is likely to register the highest CAGR in the future
The retail segment will be the fastest-growing in the future in the IoT billing & invoicing solutions market. It will register a CAGR of 26.3%, owing to the rising demand for improved transparency in transactions and simplified and efficient accounting processes for better user experience.
North America leads the global IoT billing & invoicing solutions market
In 2018, North America held the largest share of the global IoT billing & invoicing solutions market. The region is projected to register a CAGR of 25.5% in the years ahead. This regional dominance can be attributed to the regional presence of leading companies across various industry domains that can afford the deployment of IoT billing & invoicing solutions.
Key players operating in the IoT billing & invoicing solutions market are Bill Perfect, Comarch, IOT Billing, MIND CTI, Rev.io, SAP, sterlitetech.com, Sigma Software, RevX Systems, PortaOne, LogiSense, JeraSoft, IDI Billing, Formula Telecom Solutions, Cerillion Technologies, and ARIA Systems, among others.
This report segments the IoT billing & invoicing solutions market into:
Global IoT Billing & Invoicing Solutions Market: By Deployment Mode
Global IoT Billing & Invoicing Solutions Market: By Organization Size
Global IoT Billing & Invoicing Solutions Market: By Vertical
- Logistics and Transportation
Global IoT Billing & Invoicing Solutions Market: By Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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