The global Customer Information System (CIS) market is forecast to reach USD 2.31 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 2020, 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.

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Further key findings from the report suggest

Customer Information System (CIS) market held a market share of USD 976.1 Million in the year 2020, with a growth rate of 11.2% during the forecast period.
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.
In the context of Operational platforms, the In-house segment can be seen to generate the highest revenue of USD 0.57 Billion in 2020 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.
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 2020 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.
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.
In regards to Application, the Wastewater and water management segment occupied the largest market share of 40.0% in 2020, 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.
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.
Key participants include Hansen, Oracle, SAP, Itineris, Milestone Utility Services, Fluentgrid, Gentrack, Open International, Cayenta, and Hydro-Comp.

Segments covered in the report:

Operational platforms Type Outlook (Revenue, USD Billion; 2020-2028)

In-house
Outsourced
Co-sourced
Hosted
Others

Deployment type Outlook (Revenue, USD Billion; 2020-2028)

Cloud
On-Premises

Offerings Type Outlook (Revenue, USD Billion; 2020-2028)

Solutions
Services

Application Type Outlook (Revenue, USD Billion; 2020-2028)

Power and electricity management
Wastewater and water management
Utility gas management
Others

On the basis of regional analysis, the market is segmented into key geographical regions such as North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. According to the analysis, North America is expected to dominate the market with the highest market share. Asia-Pacific is anticipated to show a significant growth rate owing to rising development and population demands.

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Beneficial Aspects of the Report:

Global and region forecast of the Customer Information System (CIS) market from 2020-2027
In-depth analysis of market dynamics, industry outlook, market size based on types and applications
Details of value chain analysis, supply and demand ratio, production and consumption patterns
SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide a better understanding of the market and competitive players
Detailed insights on competitive landscape and emerging market trends

Research Methodology:

The market report is formulated on the basis of data obtained through extensive primary and secondary research. The data is further validated and verified by industry experts, research analysts, and professionals. The report considers regional demand and supply ratio, investments, market dynamics, capacity, end-use industry trends, and consumer behavior to generate a forecast report. The data is collected from verified sources such as government policies, regulatory published materials, journals, trade magazines, and verified data sources. The report uses advanced analytical tools such as SWOT Analysis, Porter’s Five Forces Analysis, Feasibility Analysis, and Investment Return Analysis to provide an accurate insight into the market scenario and competitive landscape. This report provides beneficial information to companies and new players to make lucrative business decisions. The market estimates and forecast data have been thoroughly verified through exhaustive primary research.

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