The customer information system market is expected to grow at a CAGR of 11.9% during the forecast period. The customer information system is a vital constituent of the meter-to-cash value chain for energy, electric, and natural gas utilities, and the increased demand from customers to be in control of their utility billing and consumption is a significant factor driving the market growth.
– The customer information system (CIS) has become a vital component of the meter-to-cash (M2C) value chain for electric utilities and other industries that provide metered delivery of commodities such as water and natural gas. With the increasing deregulation, emphasis on the adoption of renewable energy, growing numbers of smart meters, and growing sophisticated technology, it has become critical for organizations to have a centralized view on the entire customer lifecycle which is expected to boost the growth of CIS market during the forecast period.
– The solutions offered by the customer information system include features such as billing and rating engine, 360-degree view of the customer, customer relationship management, and prebuilt integration. For instance, CIS systems offered by providers such as Oracle and SAP consist of pre-built components can be quickly configured and deployed with the assistance of System Integrators (SIs), who bring along their template-based solutions and accelerators leading to reduction in risk and implementation time, in turn resulting in lowered costs.
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Key Market Trends
Water and Wastewater Management Segment is Expected to Witness Significant Growth
– The worldwide demand for water, due to the growing population, increasing urbanization, and the need to address the cost implications from maintaining aging infrastructure are among the major driving factors for growth of customer information systems in water management.
– Similarly, with the proliferation of IoT, smart cities across various regions are also expected to promote the growth of the market studied. Technological advancements pertaining to smart meters and their integration with communication solutions (SCADA, GIS, etc.) have transformed water management, to address the challenges faced by water utilities, residents, and industries, in terms of erroneous billing and water management.
– For instance, under the “Smart Applications via Smart Grid and Meters” initiative, the Dubai Electricity and Water Authority (DEWA) selected Honeywell to install 270,000 new smart meters across the city. The initiative contains ten programs, including AMI for electricity and water
– Customer Information System Softwares that address the meter-to-cash flow process are expected to witness growth majorly due to billing errors that happen for many different reasons. For instance, meters can be the wrong size for the usage pattern of the customer. If a 2″ meter is installed at a customer residence which only sees 5-10 gallons per minute (GPM) of water flow, the larger diameter meter is likely to dramatically under-report flow, thus the billing file data that is generated from the MDMS won’t be accurate.
Customer Information System Market Size Outlook , Demand, Competitive Analysis, Growth Factors, Forecast 2022-2031
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