
Cloud billing involves the process of generating bills using a set of defined billing policies from the resource data. A cloud billing service module is used for a service oriented architecture that covers functional requirements including quote service, conversion policies, user identification, and payment schemes along with the non-functional ones such as security, standards, fault tolerance, and scalability among others. Billing solutions are generated from the cloud that provides a solution supporting multi-tenancy where vendors run it in a public cloud allowing multiple operators to access it. This process does not provide any customization along with the compute resources being paid on the basis of usage or on monthly basis rather than a long-term contract. The global cloud billing market has been segmented on the basis of type, provider, end use industries and geography. Based on type, the global market for cloud billing has been segmented into metered billing, provisioning, subscription billing and cloud service billing among others. On the basis of provider the market includes cloud service provider, managed service provider and telecom & communication service provider. Retail, manufacturing, education, telecommunication, healthcare and media form the different end use industries based on which the global market has been segmented.