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Utility Billing Software Market Outlook, Industry Analysis, Size, Share, Trends, Growth, Forecast Report By 2023-2032
Utility Billing Software Global Market
The Business Research Company's Utility Billing Software Global Market Report 2023 identifies The increasing cloud deployment and adoption as the major driver for the Utility Billing Software market's growth in the forecast period. Cloud deployment refers to the process of deployment of applications using cloud hosting models. Cloud services make it simple to manage end-to-end rate control, use and charge calculations, and bill preparation; hence, increasing cloud deployment and adoption are expected to boost the utility billing software market.
The global utility billing software market size is expected to grow from $4.51 billion in 2022 to $5.00 billion in 2023 at a compound annual growth rate (CAGR) of 10.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global utility billing software market size is expected to grow to $7.40 billion in 2027 at a CAGR of 10.3%.
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Major competitors in the Utility Billing Software market are SkyBill SIA, Banyon Data Systems Inc., Oracle Corporation, Jendev, Cogsdale Corporation, Enghouse Networks, CUSI, Link Computer Corporation.
A key trend in the Utility Billing Software market includes Technological advancement. Major companies operating in the utility billing software market are focusing on developing new technologies to sustain in the market. For instance, in May 2022, Advanced Utility Systems, a Canada-based provider of customer information and billing solutions, launched the Infinity Customer Information System (CIS) Browser, a cloud-based customer information and billing software platform. The unique feature of the Infinity Customer Information System (CIS) is its unrivaled functionality availability, which enables utilities to meet all of their needs and even more. It is a modern, cloud-based platform for customer information and billing that plays a key role in revolutionizing utilities' field workforce management, customer experience, and customer service and billing processes. Utilities can enhance first-call resolution, access and deliver timely information to customers, support diverse working environments, and more with Infinity CIS.
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The Utility Billing Software market is segmented -
1) By Type: Platform as a Service, Infrastructure as a Service, Software as a Service
2) By Deployment Mode: On-Premises, Cloud-Based
3) By End-User: Water, Power Distribution, Oil and Gas, Telecommunication, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the Utility Billing Software market.
The Business Research Company's "Global Utility Billing Software Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Utility Billing Software Market Include:
1. Executive Summary
2. Utility Billing Software Market Characteristics
3. Utility Billing Software Market Trends And Strategies
4. Utility Billing Software Market - Macro Economic Scenario
5. Utility Billing Software Market Size And Growth
……
27. Utility Billing Software Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Utility Billing Software Market
29. Utility Billing Software Market Future Outlook And Potential Analysis
30. Appendix
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