BOULDER, Colo.--(BUSINESS WIRE)--A new report from Navigant Research analyzes the global market for major utility billing/customer information systems (CISs), customer relationship management (CRM) systems, and customer operations analytics, providing market forecasts, segmented by region, application, and segment, through 2027.
While legacy CISs have performed as cash registers for the utility industry, there is increasing pressure to upgrade these vital systems to perform additional functions. At many utilities, current CISs are out of date and in need of upgrades to meet the requirements of more demanding consumers and engaged regulators. Click to tweet: According to a new report from @NavigantRSRCH, global revenue for CIS/CRM and customer analytics is expected to total $61.1 billion over the next decade.
“Billing and CIS solutions are some of the most complicated and expensive IT applications needed by utilities,” says Michael Kelly, research analyst at Navigant Research. “To keep up with the demand for upgraded systems, vendors are responding with increased development of customer management solutions and should expect strong adoption over the forecast period.”
According to the report, increasing investment is expected across Eastern Europe, Latin America, and the Middle East & Africa. In North America and Western Europe, improvements to upgrade older systems are being driven by customer demands for more engagement, integration with mobile devices, and opportunities for increased reliability.
The report, Market Data: Utility Customer Information and Relationship Management Systems, analyzes the global market for major utility customer management systems: CISs and CRM, as well as customer operations analytics. The study provides an analysis of the market issues, including definitions, drivers, and barriers, associated with customer management solutions. Global market forecasts, segmented by region, application, and segment, extend through 2027. The report also examines the key global market trends related to utility CIS, CRM, and customer analytics solutions. An Executive Summary of the report is available for free download on the Navigant Research website.
About Navigant Research
Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team’s research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Energy Technologies, Utility Transformations, Transportation Efficiencies, and Buildings Innovations sectors. Additional information about Navigant Research can be found at www.navigantresearch.com.
Navigant Consulting, Inc. is a specialized, global professional services firm that helps clients take control of their future. Navigant’s professionals apply deep industry knowledge, substantive technical expertise, and an enterprising approach to help clients build, manage and/or protect their business interests. With a focus on markets and clients facing transformational change and significant regulatory or legal pressures, the Firm primarily serves clients in the healthcare, energy and financial services industries. Across a range of advisory, consulting, outsourcing, and technology/analytics services, Navigant’s practitioners bring sharp insight that pinpoints opportunities and delivers powerful results. More information about Navigant can be found at navigant.com.
* The information contained in this press release concerning the report, Market Data: Utility Customer Information and Relationship Management Systems, is a summary and reflects Navigant Research’s current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report’s conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report.