The global Customer
Information System (CIS) market is forecast to reach USD 2.06
Billion by 2026, according to a new report by Reports and Data. The expansion
of the Customer Information System market is the result of varied factors.
Advancements in digital technology, the Internet of Things [IoT], and cloud
technologies are some of the primary contributing factors boosting the growth
of the market. Another essential factor propelling the growth of the Customer
Information System (CIS) market is the increasing number of government smart
city initiatives. Under these smart city initiatives, increasing emphasis is
given on sustainability that results in managing transport, water, and energy
smartly and effectively. In this initiative, CIS turns out to be useful in
enhancing customer experience by providing them billing and consumption details
promptly. The effectiveness of Customer Information System (CIS) in smart city
initiatives has resulted in its increased demand, contributing to the growth of
the market.
In addition to the specified
factors, the fact that CIS is an essential component of the meter-to-cash value
chain for electric, energy and natural gas utilities, which has also resulted
in propelling the growth of the market. Key players of the market are taking
diverse initiatives that are also having a positive impact on the growth of the
market. As an instance, in 2018, SAP, a key player of the market, had
introduced SAP Leonardo Partner Medallion Initiative. Under this initiative, 13
partners of SAP would be provided with the necessary support to develop new
customer assistance solutions across the globe. Such actions by the key players
of the market are positively boosting the growth of the
market.
In regards to the region, Europe
occupies the second largest market share in the CIS market. The market
dominance of the region is the result of the emphasis on R&D activities,
acceptance, and incorporation of innovations along with technological
advancements.
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Further key findings from
the report suggest
Ø Customer
Information System (CIS) market held a market share of USD 0.88 Billion in the
year 2018, with a growth rate of 11.2% during the forecast period.
Ø Rising
investments in smart city initiatives are having a positive impact on the
growth of the CIS market. As an instance, USD 41 Trillion is expected to be
expended by the US government on smart city initiatives. Such rising
investments on smart city initiatives increases the scope of application of CIS
contributing to the growth of the market.
Ø In
the context of Operational platforms, the In-house segment can be seen to
generate the highest revenue of USD 0.57 Billion in 2018 with a growth rate of
11.4% during the forecast period. Factors contributing to the revenue generated
by this segment are continued high preference of In-house operational platforms
in the operation of different sectors, wherein the vendor has the authority of
managing the application.
Ø In
regards to Deployment type, On-premises segment can be seen to dominate the
market that occupied the larger market share of 68.0% in 2018 with a CAGR of
10.6% during the forecast period. The market dominance of On-premises segment
is the result of high on-premises deployment of CIS in various sectors like
electric power industry, and oil and gas sector to gather and manage the data
of customers, which is integral for the functioning of these industries.
Ø While
discussing Deployment type, it is worth mentioning that the Cloud segment is
forecasted to experience a higher growth rate of 12.4% during the forecast
period that is forecasted to occupy 35.0% of the market by 2026. The growth
experienced by the Cloud segment is the result of rising smart city initiatives
undertaken by the governments and associated rise in incorporation of advanced
technologies in these initiatives which result in increased demand for Cloud
technology contributing to the growth of this segment.
Ø In
regards to Application, the Wastewater and water management segment occupied
the largest market share of 40.0% in 2018, with a CAGR of 11.5% during the
forecast period. Factors contributing to the market dominance of Wastewater and
water management segment are initiatives of improving the traditional billing
system of many water utilities and replace it with CIS. The replacement of
conventional billing system with CIS in the water utilities have resulted in
increased use of CIS in this segment, contributing to its market share.
Ø In
regards to region, Asia Pacific is forecasted to experience the highest growth
rate of 12.5% during the forecast period. The growth rate of Asia Pacific in
the CIS market is the result of the expansion in IT companies, enhanced IT
penetration, and rise in energy consumption, making CIS highly relevant for
this region.
Ø Key
participants include Hansen, Oracle, SAP, Itineris, Milestone Utility Services,
Fluentgrid, Gentrack, Open International, Cayenta, and Hydro-Comp.
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For the purpose of this report,
Reports and Data have segmented the global Customer Information System (CIS)
market according to Operational platforms, Deployment Type, Component,
Application, and Region:
Operational platforms Type
Outlook (Revenue, USD Billion; 2020-2026)
- In-house
- Outsourced
- Co-sourced
- Hosted
- Others
Deployment type Outlook
(Revenue, USD Billion; 2020-2026)
- Cloud
- On-Premises
Offerings Type Outlook
(Revenue, USD Billion; 2020-2026)
- Solutions
- Services
Application Type Outlook
(Revenue, USD Billion; 2020-2026)
- Power and electricity management
- Wastewater and water management
- Utility gas management
- Others
Regional Outlook (Revenue, USD
Billion; 2020-2026)
- North America
- U.S.
- Europe
- UK
- France
- Asia Pacific
- China
- India
- Japan
- MEA
- Latin America
- Brazil
Read More Report of Information and communication Technology Category
at: https://www.reportsanddata.com/report/category/information-technology
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