Utility Billing Software Market 2022 Precise Outlook- Oracle Corporation, Harris Computer Systems, PayStand Inc., Utilibill Pvt. Ltd
The Utility Billing Software Market was valued at USD 4,188.7 million in 2020, and it is expected to reach a market value of USD 6777.32 million by 2027. to register a CAGR of 8.31% over the forecast period (2022 - 2027).
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The Global Utility Billing Software Market is highly competitive and consists of a number of Major Key Players are: Harris Computer Systems, PayStand Inc., Utilibill Pvt. Ltd., ePsolutions Inc., Jendev Corporation, Oak Bay Technologies Inc., Jayhawk Software Inc., Banyon Data Systems Inc., Sigma Software Solutions Inc., Oracle Corporation others.
- May 2019 - Echo Managed Services won a billing software contract with SES Water and SES Business Water for its new cloud-based software Aptumo. Aptumo is a cloud-based, customer billing and CRM solution into East Surrey Holdings Ltd. household and business water companies.
- March 2019 - In order to provide a cost-effective solution to help the water utilities in meeting their transformation goals, Red Clay Consulting and Oracle Utilities announced a comprehensive new business and technology offering. The solution is powered by Oracle Utilities Customer Cloud Service (CCS), that combines the billing and customer service capabilities of Oracle Utilities' Customer Care and Billing (CC&B) with advanced analytics and meter data management (MDM) in a single Software as a Service (SaaS) solution.
Key Market Trends:
Power Distribution Industry Expected to Hold Significant Market Share
- Electricity billing had evolved from the days when utilities gathered monthly energy consumption data to produce a paper invoice that they sent to customers via mail. The use of smart meters, such as two communicating meters, makes it more readily adaptable to streamline the process.
- For instance, Starnik, which is a software company for utility billing, provides cloud-based electricity billing software for the modern-day utility industry. The incredibly innovative electricity billing software of the company has helped to revolutionize the way utilities collect and process daily usage and billing data. With the electricity billing software developed by the company, it is easy to receive and store 15-minute interval reading from the smart grid-enabled devices.
North America Expected to Have Significant Market Share
- North America is expected to have a significant market share due to the advanced utility infrastructure in this region and the availability of funds for supporting the switch to operational advancements. Further, the presence of the cup[porting critical infrastructure makes it easy to introduce these solutions in the market.
- Utility businesses in this region are also focused on effective consumer services to stay ahead of the increasing competition. Advanced billing software is also a norm in the utility industry in this region owing to the high integration of digital platforms like social media, mobile devices, web portals, and the presence of digitally literate consumers.
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The key insights of the Utility Billing Software Market report:
The report provides key statistics on the market status of the Utility Billing Software Market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Utility Billing Software Market report presents the company profile, product specifications, capacity, production value, and 2016-2021 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2022-2027 market development trends of Utility Billing Software Market.
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Utility Billing Software Market Industry before evaluating its feasibility.
Finally, Utility Billing Software Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Automotive Actuators industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.
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