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Customer Information System Market: Advanced Innovation and Record to Hit USD 3.32 billion by 2028

Santosh Sargar

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As per the report published by Fior Markets, the global Customer Information System market is expected to grow from USD 1.54 billion in 2020 and to reach USD 3.32 billion by 2028, growing at a CAGR of 10.1% during the forecast period 2021-2028.

The Customer Information System market is witnessing significant growth in the past years. This growth is growing worldwide software consumption, rising cloud and IoT technologies, and smart town initiatives. The businesses relying on on-premise infrastructure for their enterprise processes power the demand for those Customer Information System systems. The Customer Information System deployed over in-house infrastructure provides more suitable control and management of business distribution strategies.

Customer data system as a provider facilitates the clients incorrectly executing the same through analyzing implementation plans supplied through the provider companies. These service providers also are aware of the evaluation of documentation and design, development, communique plans, and device deployment. The consumer data device as a provider implementation services confirms integration of existing data of the customer into the new consumer data device effectively. Customer data device performs a pivotal function in the transformation that the utility enterprise has undergone during the last few years. A developing number of application companies, especially in the electric-powered energy enterprise, are deploying consumer data structures as part of consumer relationship management. The motivations for implementing consumer data devices may be varied, but the key ones are for better consumer retention and becoming technologically savvy.

The global Customer Information System market is expected to witness significant growth, owing to the increase and improvement in the CIS market. Increasing adoption of customer facts structures for software services along with water, energy, wastewater management. It also permits key provider order management, bill processing engines, price calculations, etc. The factors restraining the market growth are issues concerning cybersecurity. Data regulations set by governments in diverse nations are any other factor that might have an effect on the growth of the global market. Growing utilization of internet of things programs and cloud computing will provide market growth opportunities.

Key players operating in the global Customer Information System market include Advanced Utility System, Agility CIS, Inc., ATS, Inc., Avertra Corporation, Cayenta Canada, Inc., Efluid SAS, EG Utility A/S. To gain a significant market share in the global Customer Information System market, the key players are now focusing on adopting strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

  • For instance, in 2019, SAP had almost doubled the variety of digital innovation solutions for the utility area compared to its portfolio in 2018.
  • In April 2020, Itineris entered into a settlement with The City of New York Department of Environmental Protection (NYC DEP) to provide higher services to the residents through using Itineris’ UMAX Customer Information System.

To Know More, View the Sample Report

The solutions segment dominated the market and held the largest market share of 53.72% in the year 2020

On the basis of Component, the global Customer Information System market is segmented into Solutions and Services. The solutions segment dominated the market and held the largest market share of 53.72% in the year 2020. This growth is attributed to the various applications supplied by CIS solutions like order processing, billing, fee designing, and payment processing that has led to its high preference over CIS services.

The cloud segment dominated the market and held the largest market share of 29.15% in the year 2019

On the basis of Deployment, the global Customer Information System market is segmented into Cloud and On-Premises. The cloud segment dominated the market and held the largest market share of 52.19% in the year 2020. This growth is attributed to the offering of advantages such as low setup cost, scalability, and no protection issues, among others.

The wastewater and Water Management segment dominated the market and held the largest market share of 36.10% in the year 2020

On the basis of Application, the global Customer Information System market is segmented into Power and Electricity Management, Wastewater and Water Management, and Utility Gas Management.  The wastewater and Water Management segment dominated the market and held the largest market share of 36.10% in the year 2020. This growth is attributed to the initiatives of enhancing the traditional billing machine of many water utilities and update them with CIS.

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