Customer Information System Market Size By Component (Solution, Service [Implementation, Support & Maintenance, Consulting), By Deployment Model (On-premises, Cloud), By Application (Electricity and Power Management, Water and Wastewater Management, Utili

Customer Information System Market Size By Component (Solution, Service [Implementation, Support & Maintenance, Consulting), By Deployment Model (On-premises, Cloud), By Application (Electricity and Power Management, Water and Wastewater Management, Utility Gas Management), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 - 2032

Customer Information System Market is estimated to demonstrate sturdy expansion through 2032 owing to its ability to help businesses enhance productivity and efficiency. For customers, enhanced management of utility consumption and billing has become crucial. The rising need for real-time information and notification on the limit on utility consumption across customers will also positively influence the adoption of customer information system solutions and services.

Overall, the customer information system industry is segmented in terms of component, service, deployment model, application, and region.

Based on the component, the solution segment is slated to grow between 2023- 2032. CIS solutions assist utility enterprises in managing operational and commercial processes such as customer service and sales. These solutions also feature advanced capabilities such as advanced billing, smart payments, & meter information management and support advanced metering & smart grid infrastructures, which ensures efficient business processes.

By service, the consulting segment will most likely depict over 15% CAGR over 2023 and 2032. CIS consulting helps businesses provide strategies and design services that are in line with enterprise requirements. Consulting CIS services also assist the businesses in reducing their operating expenditures, maintaining the infrastructure and generating more revenue.

Considering the deployment model, the on-premises deployment model is witnessing massive traction over the recent years. The on-premises applications are secure and reliable and allow enterprises to maintain control. Besides, the increasing need for on-premises deployment owing to its ability to empower the utilities to leverage CIS solutions that are purpose-built for the present utility infrastructure will push the segment expansion in the future.

Based on application, the utility gas management segment is anticipated to grow considerably during 2023-2032. Utilities utilize a large pipeline to deliver natural gas to residential and commercial customers. Smart meters integrated into the pipelines allow for real-time remote management, monitoring, and collection of improved consumption statistics by utilities. This increasing need to manage and monitor the advanced metering equipment & components across a utility infrastructure will propel the demand for CIS solutions in the coming years.

Regionally, the Europe customer information system market is anticipated to grow at more than 10% CAGR through 2032. The regional market growth will be majorly attributed to the increasing initiatives by the central governments to enhance the national utility infrastructure. Besides, the increasing popularity and penetration of smart metering and billing solutions will also positively contribute to regional expansion.