Customer Information System Market Growth Rate Analysis 2020 to 2026

Rapid implementation of strategies to improve customer service across the globe is anticipated to bolster global Customer Information System Market size in years ahead.

Likewise, modernization of the existing information systems, along with accelerating demand for advanced solutions, will provide a considerable boost to the overall industry outlook over the estimated timeline. These advanced solutions are being adopted by various enterprises to control and manage the billing processes and utility consumption.

For instance, in November 2019, SAP SE & Accenture announced the co-development and innovation of a new solution, SAP Cloud for Utilities, to ensure effective management of business process & customer experiences. This initiative was also targeted towards driving energy transition, allowing companies to rapidly adapt and grow in new business environments.

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Furthermore, accelerating needs for efficient and precise delivery of services and commodities will significantly augment global customer information system market expansion in the forthcoming years.

As per Global Market Insights, Inc. estimates, the global customer information system market size is expected to exceed $3 billion by 2026.

Rapid rise in demand for CIS solutions can be attributed to their enhanced capabilities such as elimination of M2C integrations, simplification of meter-to-cash processes, as well as centralization of data management.

CIS aids various companies in consolidating the CRM & mainframe billing processes in a single platform. Additionally, it offers insights on customer requirements and service consumption in real-time, thereby helping enterprises in efficiently serving customers and improving user experiences.

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In terms of segmentation by component, the solutions segment is poised to expand at a CAGR of nearly 8% through 2026.

The segmental growth can be attributed to its capability to drive revenue generations and reduce the Total Cost of Ownerships of major companies worldwide. These customer information system solutions, which offer embedded strong billing engine & built-in configuration interfaces, ensure infrastructure innovations and easy integration.

With regards to the deployment model spectrum, the global customer information system market from the on-premise segment is set to register over 5% CAGR through 2026, due to enhanced administration and control of the business distribution processes.

In addition, several enterprises are leveraging on-premise CIS systems to deliver services and commodities irrespective of the critical external environment.

The global CIS market from the electricity & power management application segment is projected to exhibit a CAGR of more than 8% through 2026, which can be credited to its high adoption rate for managing & gathering customer information, rapid improvement in electricity management, as well as flexible billing efficiencies.

On the regional front, the Asia Pacific customer information system market is set to witness a considerable CAGR of more than 13% through 2026, due to the rising needs to replace the existing legacy systems by key players in India and China.

For example, an India-based enterprise, Fluentgrid, signed a two-year contract with five companies in Karnataka in March 2020, in order to replace its CRM & billing solutions with a comprehensive suite of solutions such as CIS.

The North America CIS market is also anticipated to record a major market share, owing to the increasing number of prominent players and government initiatives.

Key customer information system market players include SAP SE, Oracle Corporation, Indra, IBM Corporation, Hansen technologies, and Gentrack, among others. These companies are focusing on developing advanced CIS solutions and entering strategic partnerships & acquisitions to bolster their stance across the globe market landscape.

To illustrate, in June 2020, Agility CIS, a leading customer experience solutions provider, announced the acquisition of the U.S.-based Znalytics to strengthen its presence in the U.S. as well as expand its footprint in Japan.

In March 2020, Hansen Technologies also entered a partnership deal with Fortum Oyj, in order to optimize the utility infrastructure as well as enhance the customer experience. Under this deal, Hansen is planning to deploy its CIS software platforms to increasingly serve customers and enlarge the service delivery network.

Browse key industry insights spread across 225 pages with 356 market data tables and 29 figures & charts from the report, Customer Information System Market in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/customer-information-system-cis-market

Report Content

Chapter 3.    Customer Information System Industry Insights

3.1.    Introduction

3.2.    Industry segmentation

3.3.    Impact of COVID-19 outbreak

3.3.1. Global outlook

3.3.2. Regional outlook

3.3.2.1.    North America

3.3.2.2.    Europe

3.3.2.3.    Asia Pacific

3.3.2.4.    Latin America

3.3.2.5.    Middle East & Africa

3.3.3. Industry value chain

3.3.3.1.    Customer information system providers

3.3.3.2.    Marketing & distribution channel

3.3.4. Competitive landscape

3.3.4.1.    Strategy

3.3.4.2.    Distribution network

3.3.4.3.    Business growth

3.4.    Industry ecosystem analysis

3.5.    Technology & innovation landscape

3.5.1. Convergence of AI with customer information systems

3.5.2. Inreasing mobility in customer information systems

3.6.    Regulatory landscape

3.6.1. North America

3.6.1.1.    NIST Special Publication 800-144 - Guidelines on Security and Privacy in Public Cloud Computing (U.S.)

3.6.1.2.    Health Insurance Portability and Accountability Act (HIPAA) of 1996 (U.S.)

3.6.1.3.    Personal Information Protection and Electronic Documents Act [(PIPEDA) Canada]

3.6.2. Europe

3.6.2.1.    General Data Protection Regulation (EU)

3.6.2.2.    German Privacy Act (Bundesdatenschutzgesetz- BDSG)

3.6.3. APAC

3.6.3.1.    Information Security Technology- Personal Information Security Specification GB/T 35273-2017 (China)

3.6.3.2.    Secure India National Digital Communications Policy 2018 – Draft (India)

3.6.4. Latin America

3.6.4.1.    National Directorate of Personal Data Protection (Argentina)

3.6.4.2.    The Brazilian General Data Protection Law (LGPD)

3.6.5. MEA

3.6.5.1.    Law No. 13 of 2016 on protecting personal data (Qatar)

3.6.5.2.    Cyber Security Framework, Saudi Arabian Monetary Authority (SAMA)

3.7.    Industry impact forces

3.7.1. Growth drivers

3.7.1.1.    Rising demand from customers to be in control of their utility billing and consumption

3.7.1.2.    Growing government smart city initiatives

3.7.1.3.    Surging consumption of global utility services

3.7.1.4.    Increasing penetration of cloud and IoT

3.7.1.5.    Convergence of AI with customer information systems

3.7.2. Industry pitfalls & challenges

3.7.2.1.    High initial investment and complex integrations

3.7.2.2.    Risks of cyberattacks and data breaches

3.8.    Growth potential analysis

3.9.    Porter’s analysis

3.10.    PESTEL analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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