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Utility Consumption Surge Drives Expansion Of The Customer Information System Market: A Key Catalyst Accelerating Global Customer Information System Market Growth in 2025
Customer Information System Market
What Will the Customer Information System Industry Market Size Be by 2025?
The value of the customer information system market has experienced swift growth in recent times. The market, which stood at $1.46 billion in 2024, is projected to climb to $1.65 billion in 2025, attaining a compound annual growth rate (CAGR) of 13.4%. Factors contributing to the growth during the historical period include initiatives for data accuracy, improvements in user interface, security upgrades, increased scalability, and integration with CRM.
What's the Long-Term Growth Forecast for the Customer Information System Market Size Through 2029?
The market size for the customer information system is anticipated to experience swift expansion in the upcoming years, reaching a projected total of $2.63 billion by 2029, with a compound annual growth rate (CAGR) of 12.3%. This growth in the projected period is due to factors such as the integration of AI and predictive analytics, improved mobile accessibility, integration of the Internet of Things (IoT), superior personalization capabilities, and ongoing performance monitoring. Some of the major trends that can be observed in this period include amplified personalization, the focus on understandable AI, decentralized identity administration, edge computing for instant processing, and the employment of digital twin technology.
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What Are the Key Growth Drivers Fueling the Customer Information System Market Expansion?
The surge in global utility use is anticipated to fuel the expansion of the customer information system market. The term "utility consumption" refers to resources like electricity, water, gas, and other key services used by residential, commercial, or industrial consumers. The rise in global utility consumption is primarily due to increased infrastructure investments, industrialisation, and evolving patterns of consumer behaviour and lifestyle. A customer information system for utility consumption allows for effective monitoring and control of customer usage data, thereby improving resource optimization and service delivery. For example, in December 2023, the International Energy Agency (IEA), a France-based international organisation, reported that total electricity consumption in the U.S. in 2022 was roughly 3.2% higher than in 2021. Additionally, the residential sector's retail electricity sales rose by 2.6% compared to 2021, and the commercial sector's retail electricity sales grew by 4.7% over 2021. As such, the escalating global utility consumption is acting as a catalyst for the advancement of the customer information system market.
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What Are the Key Trends Driving Customer Information System Market Growth?
Key players in the customer information system industry are leveraging technological advancements like cloud-based data platforms to secure a competitive advantage. These tech-based systems, hosted on cloud computing resources, facilitate organizations with large data volume storage, processing, management, and analysis. As these organizations strive for operational optimization and improved customer service, they are turning to these cloud-enabled platforms for proficient handling and analysis of extensive customer data. For instance, in January 2023, AGL, a company specializing in energy based in Australia, introduced a unique customer data platform hosted on Microsoft cloud. This initiative aims to empower its clientele with more control over their data by providing a secure data exchange platform on Microsoft Cloud. This could potentially unlock growth prospects such as implementing machine learning for bill predictions, integrating with open banking interfaces, and suggesting methods for improved energy consumption.
How Is the Customer Information System Market Segmented?
The customer information systemmarket 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 Companies Are Leading the Charge in Customer Information System Market Innovation?
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 Are Leading the Global Customer Information System Market in Revenue?
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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