Customer Information System Market - Global Forecast to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 13, 2018--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.
Major growth factors for the market include the growing global utility consumption, the emerging cloud and IoT technologies, and smart city initiatives. However, stringent government data regulation issues could restrain the market growth.
The water and waste water management segment is one of the dominating segments in terms of CIS deployments. CIS solutions assist organizations by registering, tracking, and monitoring the water meter population through complete billing and meter data solutions. CIS assists organizations to calculate water consumption bills, generate bill receipts, report on-demand delivery, and track leakages if any.
The water and waste water management segment account for the highest market size, owing to the increase in water consumption. The overall water consumption across the globe is increasing at a significant rate, and the effective management of it requires CIS implementations. Furthermore, various governments are taking several initiatives to enable smart distribution of water based on customer density and usage pattern. These initiatives drive the growth of CIS implementations, hence leading to the growth of the overall market.
The US government is focusing on various initiatives, strategies, and projects to enhance the utilities sector. Grid Modernization Initiative (GMI), Effective Utility Management (EUM) Initiative, EPA’s Clean Water and Drinking Water Infrastructure Sustainability Policy, and POWER Initiative are some of the major initiatives and policies contributing to the growth of CIS market in North America.
The US is expected to invest USD 41 trillion for the Smart Cities USA project to enhance the city infrastructure with the help of the emerging technologies. These investments are expected to help grow CIS deployments, thereby boosting the overall market growth. On the other hand, Latin America’s market share is considerably low in the global CIS market. Major countries, such as Brazil and Mexico, have witnessed the serious droughts and electricity shortages.
Europe is the second largest contributor to the CIS market, due to its acceptance of innovations and upcoming technologies, such as cloud and IoT. European Electricity Grid Initiative (EEGI) initiated in 2012, a nine-year European Research and Development (R&D) program introduced to accelerate innovation and the development of electricity networks of the future in Europe.
Key Topics Covered:
2 Research Methodology
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
5.2 Market Dynamics
22.214.171.124 Growing Global Utility Consumption
126.96.36.199 Emerging Cloud and IoT Technologies
188.8.131.52 Smart City Initiatives
184.108.40.206 Stringent Government Data Regulations
220.127.116.11 Convergence of AI With CIS
18.104.22.168 Cybersecurity Challenges
5.3 Use Cases
6 Customer Information System Market, By Component
6.2.1 Utility Billing and Distribution Management
6.2.2 Collection and Debt Management
6.3.1 Americas is Estimated to Hold the Largest Market Size in 2018
7 Market By Service
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
8.1.1 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
9.1.1 Cloud Segment is Estimated to Hold the Largest Market Size in 2018
9.2.1 Complete Control Over the Customer Data and Security is Expected to Facilitate the Growth of the On-Premises Segment
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
11 Competitive Landscape
11.2 Competitive Landscape
11.2.1 New Product Launches and Product Upgrades
11.2.3 Partnerships and Collaborations
12 Company Profiles
(Business Overview, Solutions and Services Offered, Recent Developments, SWOT Analysis)*
12.6 Open International
12.8 Milestone Utility Services
12.10 Advanced Utility Systems
12.13 Ferranti Computer Systems
12.14 Northstar Utilities
12.18 Agility CIS
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Related Topics:Information Management
INDUSTRY KEYWORD: TECHNOLOGY DATA MANAGEMENT SOFTWARE
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 11/13/2018 10:54 AM/DISC: 11/13/2018 10:54 AM