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Global Customer Information System Market to 2023 - Opportunities in Convergence of AI With CIS
DUBLIN, Nov. 13, 2018 /PRNewswire/ --
The "Customer Information System Market by Component (Solutions and Services), Application (Water and Wastewater Management, Electricity and Power Management, and Utility Gas Management), Deployment Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Global Customer Information System (CIS) market size is expected to grow from USD 877 million in 2018 to USD 1,539 million by 2023, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period.
The growing global utility consumption, emerging cloud and IoT technologies, and smart city initiatives are the major factors driving the growth of the Customer Information System market.
By component, the solutions segment is expected to be the largest contributor in the Customer Information System market during the forecast period
CIS solutions offer various functions, such as account maintenance, order processing, product/service management, rate design, billing, collection and debt management, accounts receivable, statement preparation, and payment processing. CIS vendors include companies, such as Oracle, SAP, Hansen, Itineris, NorthStar, ATS, and Open International. CIS solutions assist organizations by managing millions of customers' accounts and bills every month. It streamlines and automates manual tasks of organizations to increase the efficiency and reduce human error with the automation mechanism
Support services segment is expected to grow at the highest CAGR during the forecast period
Support services offer assistance to manage the deployed CIS solutions. Support services focus on efficiently understanding and managing customers business application to support utilities companies for sustaining in the competitive market. These services include 24/7 professionally skilled assistance, product update, avoid costly reimplementation, repairing, technical support from technicians, and test scenario management. Moreover, support services include establishing high quality and professional support for CIS solutions and methodologies for the application management services. These services primarily include on-premises and cloud-based application support and maintenance that are useful for improving the implementation of CIS solutions.
Americas is expected to account for the largest market size during the forecast period
The Americas is expected to hold the largest market share in the global Customer Information System market. The Americas comprises North America and Latin America. North America is further categorized into the US and Canada. North America holds the highest market share in the global CIS market. North American countries have been extensively implementing CIS solutions, due to the increasing consumption of energy, government initiatives, and grid modernizations projects.
Recent Developments:
- In June 2018, SAP announced that it has doubled the number of digital innovation solutions and announced the launch of the SAP Leonardo Partner Medallion Initiative. The new initiative offers 13 SAP partners to develop and deliver new industry innovation solutions to assist customes across the globe.
- In June 2018, Gentrack acquired Evolve Analytics, a market leading provider of energy data analysis software and services provider in the UK. This acquisition assisted Gentrack to enhance its CIS offerings as Evolve Analytics specializes in the identification and correction of settlement and billing errors, as well as the accuracy of the standing data.
- In April 2018, Oracle Utilities partnered with American Electric Power (AEP) in support of AEP's strategy for improving services provided to customers and enhancing operational efficiency.
Key Topics Covered:
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders
2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Assumptions for the Study
2.5 Limitations of the Study
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Customer Information System Market
4.2 Market Top 3 Applications and Regions
4.3 Market By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Global Utility Consumption
5.2.1.2 Emerging Cloud and IoT Technologies
5.2.1.3 Smart City Initiatives
5.2.2 Restraints
5.2.2.1 Stringent Government Data Regulations
5.2.3 Opportunities
5.2.3.1 Convergence of AI With CIS
5.2.4 Challenges
5.2.4.1 Cybersecurity Challenges
5.3 Use Cases
6 Customer Information System Market, By Component
6.1 Introduction
6.2 Solution
6.2.1 Utility Billing and Distribution Management
6.2.2 Collection and Debt Management
6.3 Services
6.3.1 Americas is Estimated to Hold the Largest Market Size in 2018
7 Market By Service
7.1 Introduction
7.2 CIS Implementation Service
7.2.1 CIS Implementation Service Providers Prototype the Implementation for Interconnection Between Customers and Utility Providers
7.3 Support Service
7.3.1 Need for 24/7 Professionally Skilled Assistance, to Lead the Growth of Support Services
7.4 Legacy Extension Consulting Service
7.4.1 Aging Customer Management Systems is the Major Driving Factor for the Growth of the Legacy Extension Consulting Service
8 Customer Information System Market, By Application
8.1 Introduction
8.1.1 Water and Wastewater Management Segment Holds the Largest Market Size in the Application Segment
8.2 Water and Wastewater Management
8.2.1 to Effectively Manage the Increasing Consumption of Water is Driving the Growth of the Water and Wastewater Management Segment
8.3 Electricity and Power Management
8.3.1 to Reduce Complexity and Offer Real-Time Monitoring of Electricity are the Factors Contributing to the Growth of the Electricity and Power Management Segment
8.4 Utility Gas Management
8.4.1 The Ability of CIS to Detect the Risk and Minimize the Operational Costs are the Major Reasons for the Growth of Customer Information System
9 Market By Deployment Type
9.1 Introduction
9.1.1 Cloud Segment is Estimated to Hold the Largest Market Size in 2018
9.2 On-Premises
9.2.1 Complete Control Over the Customer Data and Security is Expected to Facilitate the Growth of the On-Premises Segment
9.3 Cloud
9.3.1 Increasing Demand of CIS-As-A-Service is Expected to Lead the Growth of the Cloud Segment
10 Customer Information System Market, By Region
10.1 Introduction
10.2 Americas
10.2.1 US
10.2.1.1 Increasing Government Initiatives for Energy and Utilities is Expected to Drive the Growth of the CIS Market in Us
10.2.2 Canada
10.2.2.1 Increasing Government Initiatives, and Energy and Utility Regulations are Driving the Growth of CIS Market in Canada
10.2.3 Rest of Americas
10.3 Europe
10.3.1 UK
10.3.1.1 Increasing Investments in Technologies is Contributing the Growth of CIS Solutions and Services in UK
10.3.2 Germany
10.3.2.1 Increasing Technology Maturity and Emerging Technologies Such as IoT and Cloud Computing are Driving the Growth of Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Growing Utility Generation and Consumption and Evolving Economies is Expected to Lead the Growth of the CIS Market in the Region
10.4.2 Rest of APAC
10.5 Middle East and Africa
10.5.1 Ksa
10.5.1.1 Urge to Manage the Optimum Utilization of Limited Utilities Such as Water is Expected to Facilitate the Growth of the CIS Market in Ksa
10.5.2 UAE
10.5.2.1 Urge of Utility Providers to Fulfill the Billing and Distribution Need of Utility Customers are Driving the Growth of UAE
11 Competitive Landscape
11.1 Overview
11.2 Competitive Landscape
11.2.1 New Product Launches and Product Upgrades
11.2.2 Acquisitions
11.2.3 Partnerships and Collaborations
12 Company Profiles
12.1 Oracle
12.2 SAP
12.3 Itineris
12.4 Hansen
12.5 Fluentgrid
12.6 Open International
12.7 Gentrack
12.8 Milestone Utility Services
12.9 Cayenta
12.10 Advanced Utility Systems
12.11 Engineering
12.12 Indra
12.13 Ferranti Computer Systems
12.14 Northstar Utilities
12.15 Vertexone
12.16 IBM
12.17 Wipro
12.18 Agility CIS
12.19 Avertra
12.20 ATS
12.21 Cogsdale
12.22 Fathom
12.23 EG
12.24 Efluid
12.25 Hydro-Comp
For more information about this report visit https://www.researchandmarkets.com/research/pgd9lm/global_customer?w=5
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