Press release
Steady Expansion Forecast for Customer Information System Market, Projected to Reach $2.73 Billion by 2029
Customer Information System
Customer Information System Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In recent times, the market size for the customer information system has expanded dramatically. The market, which is expected to increase from $1.46 billion in 2024 to $1.66 billion in 2025, is predicted to have a compound annual growth rate (CAGR) of 13.6%. Factors contributing to this growth during the historic period include initiatives for improving data accuracy, overhauls in security, enhancements in scalability, user interface upgrades, and integration with customer relationship management (CRM).
Customer Information System Market Size Forecast: What's the Projected Valuation by 2029?
Expectations are high for a swift expansion in the market size of the customer information system in the forthcoming years. Predictions hold that it will swell to a hefty $2.73 billion in 2029, with a compound annual growth rate (CAGR) of 13.3%. This projected growth during the forecasted period can be linked to several factors such as the incorporation of AI and predictive analytics, improved mobile accessibility, the inclusion of IoT, superior personalization features, and consistent performance monitoring. The period also foresees major trends like hyper-personalization, emphasis on explainable AI, decentralized identification management, edge computing for instantaneous processing, and the application of digital twin technology.
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What Are the Drivers Transforming the Customer Information System Market?
The expansion of the customer information system market is anticipated to be driven by the rise in global utility usage. The term utility usage refers to how much resources such as electricity, water, gas, or other essential services are used by residential, commercial, or industrial customers. The escalation in worldwide utility consumption is due to factors such as increased investments in infrastructure, industrialization, and shifts in lifestyle and consumer behaviors. A customer information system specific to utility usage allows for effective monitoring and control of customer usage data, improving service provision and resource efficiency. For example, the International Energy Agency (IEA), a France-based intergovernmental organization, reported in December 2023 that the total electricity end-use consumption in the U.S in 2022 was approximately 3.2% higher than it was in 2021. Furthermore, there was a 2.6% increase in residential sector retail electricity sales compared to 2021, and a 4.7% increase in commercial sector retail electricity sales from 2021. Hence, the surging global utility consumption fuels the growth of the customer information system market.
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What Long-Term Trends Will Define the Future of the Customer Information System Market?
Leading organizations in the customer information system market are leaning towards tech advancements, specifically data platforms via the cloud, to gain an upper hand in the business. Data platforms that utilize the cloud are all-encompassing systems or infrastructures anchored on cloud computing resources, which aid organizations in data storage, management, processing, and analysis on a large scale. As businesses strive to improve operations and enrich client experiences, they depend upon cloud-powered data platforms for effective storage, management, and analysis of gigantic volumes of customer data. An example would be the Australia-based energy firm, AGL, which rolled out an advanced customer data platform using Microsoft's cloud in January 2023. The objective here is to empower customers by giving them more autonomy over their data. AGL plans to use a platform on the Microsoft Cloud for a secure data exchange, opening the door for growth opportunities that include employing machine learning for bill predictions, open banking integration, and recommending methods for more efficient energy utilization.
Which Segments in the Customer Information System Market Offer the Most Profit Potential?
The customer information system market covered in this report is segmented -
1) By Component: Solution, Services
2) By Deployment: Cloud, On-premises
3) By Service: 24/7 Assistance Services, Product Update Services, Repairing And Testing Services
4) By End-user: Water And Wastewater Management, Energy And Utility, Electricity And Power Management
Subsegments:
1) By Solution: Customer Data Management (Cdm) Solutions, Customer Relationship Management (Crm) Software, Billing And Payment Management Solutions, Customer Analytics And Reporting Tools, Data Integration And Synchronization Solutions, Identity And Access Management Solutions, Customer Engagement Platforms, Omni-Channel Communication Solutions
2) By Services: Consulting Services, System Integration Services, Customization And Development Services, Support and Maintenance Services, Training And Education Services, Managed Services, Cloud Migration Services, Data Migration And Management Services
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Which Firms Dominate the Customer Information System Market by Market Share and Revenue in 2025?
Major companies operating in the customer information system market are International Business Machines Corporation, Oracle Corporation, Schneider Electric, SAP SE, HCL Technologies, Wipro Limited, Indra Company Inc., Agility Customer Information System, Hansen Technologies Corporation, Gentrack Limited, Fluentgrid Limited, Avertra Corporation, Harris Computer Systems, Cayenta CIS, Vertexone, Itineris NV, Open International LLC, Hydro Comp Enterprises Ltd., Ferranti Computer Systems NV, Cogsdale Corporation, Northstar Utilities Solutions, Advanced Utility Systems, Efluid SAS, Milestone Utility Services Inc., Cognera Corporation
Which Regions Offer the Highest Growth Potential in the Customer Information System Market?
North America was the largest region in the customer information system market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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