Dublin, Nov. 13, 2018 (GLOBE NEWSWIRE) -- The "Customer Information System Market by Component (Solutions and Services), Application (Water and Wastewater Management, Electricity and Power Management, and Utility Gas Management), Deployment Type, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

The global Customer Information System (CIS) market size is expected to grow from USD 877 million in 2018 to USD 1,539 million by 2023, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period.

Major growth factors for the market include the growing global utility consumption, the emerging cloud and IoT technologies, and smart city initiatives. However, stringent government data regulation issues could restrain the market growth.

The water and waste water management segment is one of the dominating segments in terms of CIS deployments. CIS solutions assist organizations by registering, tracking, and monitoring the water meter population through complete billing and meter data solutions. CIS assists organizations to calculate water consumption bills, generate bill receipts, report on-demand delivery, and track leakages if any. The water and waste water management segment account for the highest market size, owing to the increase in water consumption.

The overall water consumption across the globe is increasing at a significant rate, and the effective management of it requires CIS implementations. Furthermore, various governments are taking several initiatives to enable smart distribution of water based on customer density and usage pattern. These initiatives drive the growth of CIS implementations, hence leading to the growth of the overall market.

The US government is focusing on various initiatives, strategies, and projects to enhance the utilities sector. Grid Modernization Initiative (GMI), Effective Utility Management (EUM) Initiative, EPA's Clean Water and Drinking Water Infrastructure Sustainability Policy, and POWER Initiative are some of the major initiatives and policies contributing to the growth of CIS market in North America. Furthermore, the US electric grid holds more than 1 million megawatts of generating capacity connected to approximately 600,000 miles of transmission lines. This, in turn, is expected to increase the number of users, hence the demand for CIS solutions and services is expected to continue to increase in the region.

The US is expected to invest USD 41 trillion for the Smart Cities USA project to enhance the city infrastructure with the help of the emerging technologies. These investments are expected to help grow CIS deployments, thereby boosting the overall market growth. On the other hand, Latin America's market share is considerably low in the global CIS market. Major countries, such as Brazil and Mexico, have witnessed the serious droughts and electricity shortages. This is evident by the fact that more than 31 million people in the region lack the access to electricity, thereby witnessing blackouts.

Europe is the second largest contributor to the CIS market, due to its acceptance of innovations and upcoming technologies, such as cloud and IoT. European Electricity Grid Initiative (EEGI) initiated in 2012, a nine-year European Research and Development (R&D) program introduced to accelerate innovation and the development of electricity networks of the future in Europe. The region comprises major economies, such as the UK, Germany, and France. The UK, Germany, France, and Italy are some of the leading countries taking the initiative to enhance the energy and utility industry vertical in Europe.

Key Topics Covered:

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Segmentation
1.4 Years Considered for the Study
1.5 Currency Considered
1.6 Stakeholders

2 Research Methodology
2.1 Research Data
2.2 Market Breakup and Data Triangulation
2.3 Market Size Estimation
2.4 Assumptions for the Study
2.5 Limitations of the Study

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Customer Information System Market
4.2 Market Top 3 Applications and Regions
4.3 Market By Region

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Growing Global Utility Consumption
5.2.1.2 Emerging Cloud and IoT Technologies
5.2.1.3 Smart City Initiatives
5.2.2 Restraints
5.2.2.1 Stringent Government Data Regulations
5.2.3 Opportunities
5.2.3.1 Convergence of AI With CIS
5.2.4 Challenges
5.2.4.1 Cybersecurity Challenges
5.3 Use Cases

6 Customer Information System Market, By Component
6.1 Introduction
6.2 Solution
6.2.1 Utility Billing and Distribution Management
6.2.2 Collection and Debt Management
6.3 Services
6.3.1 Americas is Estimated to Hold the Largest Market Size in 2018

7 Market By Service
7.1 Introduction
7.2 CIS Implementation Service
7.2.1 CIS Implementation Service Providers Prototype the Implementation for Interconnection Between Customers and Utility Providers
7.3 Support Service
7.3.1 Need for 24/7 Professionally Skilled Assistance, to Lead the Growth of Support Services
7.4 Legacy Extension Consulting Service
7.4.1 Aging Customer Management Systems is the Major Driving Factor for the Growth of the Legacy Extension Consulting Service

8 Customer Information System Market, By Application
8.1 Introduction
8.1.1 Water and Wastewater Management Segment Holds the Largest Market Size in the Application Segment
8.2 Water and Wastewater Management
8.2.1 to Effectively Manage the Increasing Consumption of Water is Driving the Growth of the Water and Wastewater Management Segment
8.3 Electricity and Power Management
8.3.1 to Reduce Complexity and Offer Real-Time Monitoring of Electricity are the Factors Contributing to the Growth of the Electricity and Power Management Segment
8.4 Utility Gas Management
8.4.1 The Ability of CIS to Detect the Risk and Minimize the Operational Costs are the Major Reasons for the Growth of Customer Information System

9 Market By Deployment Type
9.1 Introduction
9.1.1 Cloud Segment is Estimated to Hold the Largest Market Size in 2018
9.2 On-Premises
9.2.1 Complete Control Over the Customer Data and Security is Expected to Facilitate the Growth of the On-Premises Segment
9.3 Cloud
9.3.1 Increasing Demand of CIS-As-A-Service is Expected to Lead the Growth of the Cloud Segment

10 Customer Information System Market, By Region
10.1 Introduction
10.2 Americas
10.2.1 US
10.2.1.1 Increasing Government Initiatives for Energy and Utilities is Expected to Drive the Growth of the CIS Market in Us
10.2.2 Canada
10.2.2.1 Increasing Government Initiatives, and Energy and Utility Regulations are Driving the Growth of CIS Market in Canada
10.2.3 Rest of Americas
10.3 Europe
10.3.1 UK
10.3.1.1 Increasing Investments in Technologies is Contributing the Growth of CIS Solutions and Services in UK
10.3.2 Germany
10.3.2.1 Increasing Technology Maturity and Emerging Technologies Such as IoT and Cloud Computing are Driving the Growth of Germany
10.3.3 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.1.1 Growing Utility Generation and Consumption and Evolving Economies is Expected to Lead the Growth of the CIS Market in the Region
10.4.2 Rest of APAC
10.5 Middle East and Africa
10.5.1 Ksa
10.5.1.1 Urge to Manage the Optimum Utilization of Limited Utilities Such as Water is Expected to Facilitate the Growth of the CIS Market in Ksa
10.5.2 UAE
10.5.2.1 Urge of Utility Providers to Fulfill the Billing and Distribution Need of Utility Customers are Driving the Growth of UAE

11 Competitive Landscape
11.1 Overview
11.2 Competitive Landscape
11.2.1 New Product Launches and Product Upgrades
11.2.2 Acquisitions
11.2.3 Partnerships and Collaborations

12 Company Profiles
12.1 Oracle
12.2 SAP
12.3 Itineris
12.4 Hansen
12.5 Fluentgrid
12.6 Open International
12.7 Gentrack
12.8 Milestone Utility Services
12.9 Cayenta
12.10 Advanced Utility Systems
12.11 Engineering
12.12 Indra
12.13 Ferranti Computer Systems
12.14 Northstar Utilities
12.15 Vertexone
12.16 IBM
12.17 Wipro
12.18 Agility CIS
12.19 Avertra
12.20 ATS
12.21 Cogsdale
12.22 Fathom
12.23 EG
12.24 Efluid
12.25 Hydro-Comp

For more information about this report visit https://www.researchandmarkets.com/research/dh6spl/1_5_billion?w=12

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