Customer Information System (CIS) Market Scope
The global customer information system (CIS) market is expected to grow at a slow pace during the forecast period, according to the AMA study. The rising number of smart city projects and the rising global utility consumption are expected to be some of the major factors aiding into the growth for the market. However, the market is expected to witness a slight decline in the growth during the next few years but it is again expected to rise with a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
---|
Study Period | 2018-2028 |
Base Year | 2022 |
High Growth Market | Asia Pacific |
Largest Market | North America |
Unit | Value (USD Million) |
Key Companies Profiled | SAP (Germany), IBM (United States), Orcale (United States), Gentrack Group (New Zealand), Cayenta Canada Inc (Canada), ATS (United States), Wipro (India), Vertexone (United States), Ferranti Computer Systems (Belgium), Avertra (United States), Hydro-Comp (Cyprus), COGSDALE CORPORATION (Canada), NORTHSTAR UTILITIES SOLUTIONS (Canada), Advanced Utility Systems (Canada), Milestone Utility Services (United States) and Fathom (Australia) |
CAGR | 10.1% |
"According to AMA, the Global Customer Information System (CIS) market is expected to see growth rate of 10.1% and may see market size of USD865.0 Million by 2028."The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Customer Information System (CIS) market throughout the predicted period.
SAP (Germany), IBM (United States), Orcale (United States), Gentrack Group (New Zealand), Cayenta Canada Inc (Canada), ATS (United States), Wipro (India), Vertexone (United States), Ferranti Computer Systems (Belgium), Avertra (United States), Hydro-Comp (Cyprus), COGSDALE CORPORATION (Canada), NORTHSTAR UTILITIES SOLUTIONS (Canada), Advanced Utility Systems (Canada), Milestone Utility Services (United States) and Fathom (Australia) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Customer Information System (CIS) market by Type , by Application (Water & Wastewater Management, Electricity & Power Management, Utility Gas Management and Others) and Region with country level break-up.
On the basis of geography, the market of Customer Information System (CIS) has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2022.
Market Leaders and their expansionary development strategies
In October 2023, SAP acquired Qualtrics, a company that provides cloud-based customer experience management (CXM) solutions. This merger will help SAP to provide its customers with a more comprehensive suite of products for managing customer feedback and data.
In October 2023, Oracle launched its new cloud-based CIS, Oracle Utilities Customer Cloud. The cloud-based platform is designed to help utilities improve customer service, reduce costs, and increase agility.
Stringent Worldwide Government Regulations Regarding Shutting Down the Production & Services Across Different Countries of the World to Avoid the Spread of COVID-19
Influencing Trend:
Growth in Adoption of Cloud-based Customer Information Systems
Market Growth Drivers:
Rising Number of Smart City Projects and The Rising Global Utility Consumption
Challenges:
Cyber Security Challenges
Restraints:
The Outbreak of COVID-19 Pandemic is one of the Major Restraints for the Market as Most of the Industries have been Facing Economic Crisis Across the World and Stringent Government Data Regulations
Opportunities:
Implementation of AI With Customer Information System