PDF-Customer Information System Market

Customer Information System Market will observe substantial
demand from 2018 to 2024: Global Market Insights, Inc.
Customer Information System Market has penetrated into different application areas
including electricity & power management, water & wastewater management, and
utility gas management. The water & waste management segment dominates the
customer information system market as the government is globally taking strategic
steps to curb the wastage of water by enabling smart distribution of water depending
on the customers’ usage pattern and area population. Furthermore, the increasing
water consumption has made water utilities a dominant force in CIS selection and
implementation market. Water utility companies are also looking toward fixing their
legacy billing systems with high level CIS, allowing utility providers to take advantage
of the latest version of CIS software.
Customer Information System Market is expected to register an excellent growth over
the forecast timeline as rising digital technology trends and changing customer
behavior will drive the customer information system market demand. Mobile, IoT, and
cloud technologies are creating massive changes in the way the data is distributed,
managed, and used. The customers’ demand to be in control of their utility billing and
consumption is a major factor driving the market growth. The CIS is a vital constituent
of the meter-to-cash value chain for energy, electric, and natural gas utilities.
The growing government smart city initiatives also assist in augmenting the market
growth. The smart cities are using innovative technologies to improve sustainability
thereby managing the water, transport, infrastructure and energy in a better and
smarter way. The customer information system solutions assist in improving customer
experience by providing timely consumption and billing details. It provides robust rate
calculators and bill processing engines along with account, customer, and multiservice
management capabilities.
The CIS also offers features that are capable of supporting customer data entity and
promoting a single point for customer contact. It also provides access to raw data,
allowing utilities to design, execute, and manage customized marketing programs. The
CIS also efficiently gathers and manages customer information, improves system
operations, supports new marketing initiatives, provides flexible billing of commodities
& services, and leverages e-commerce and the Internet, driving the customer
information system market growth.
The cybersecurity challenge is a major parameter hampering market growth. Around
20% of the organizations lack disaster recovery solutions, which enable malicious
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attackers to attack the CIS, hacking critical customer information. Hence, it is essential
for organizations to adopt a disaster recovery strategy, improving customer data
protection.
Customer information system market in services segment is growing at a fast rate in
the market with CIS providers offering these services to either third-party providers or
an in-house service team. The support services are growing at the fastest rate as they
concentrate on proficiently managing the customer’s business applications along with
providing 24/7 assistance, product updates, and repairing & testing services. By
offering these services, the utility companies are able to meet the rising customer
expectations, gaining a competitive edge in the market.
North America leads the global customer information system (CIS) market due to the
rising adoption of CIS solutions and growing consumption rate of energy and related
utilities. The government initiatives aimed at reducing the energy consumption also
drive the market growth. POWER initiative, Effective Utility Management (EUM), and
Grid Modernization Initiative (GMI) are the major projects undertaken by the U.S.
government, contributing to the market growth. Furthermore, the region is a home to
some of the leading customer information system providers including Oracle and IBM,
driving regional growth.
Europe also holds a large share in the global customer information system market as
the companies operating in this region are accepting new technologies and
innovations thereby bringing about changes in their legacy systems. The companies
are also investing huge funds in the R&D to develop advanced electricity networks,
accelerating the market growth.
The customer information system market is fragmented with the presence of a
significant number of vendors. Some of the major players present in the market are
Open International, Oracle, SAP, Cayenta, Agility CIS, Northstar Utilities, IBM, Wipro,
Vertexone, EG, Efluid, Hydro-comp, Avertra, Indra, Gentrack, Hansen, Advanced
Utility System, Fathom, and ATS. These companies are entering into strategic
partnerships to expand their market presence and gain a larger customer base in the
extremely lucrative market.
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