The cloud billing market size is estimated to grow from USD 5.68 Billion in 2016 to USD 16.59 Billion by 2021, at expected Compound Annual Growth Rate (CAGR) of 23.9% from 2016 to 2021. High demand for billing operations, centralized, and convergent billing software and the growing need to lower capital and operating expenditure is increasing the demand for cloud billing in the market.