Global Utility Billing Software Market
Information Technology

5 Key Takeaways From The Utility Billing Software Market Report 2024

The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

As per The Business Research Company’s Utility Billing Software Global Market Report 2024, the utility billing software market is expected to show significant growth in the forecast period.

The utility billing software market has witnessed rapid growth in recent years, driven by various factors:

  • Data security and privacy concerns
  • Market competition and consumer demands
  • Utility sector modernization
  • Focus on sustainability
  • Increasing complexity of utility services

Growth Projections

  1. Historical Growth:
    • In 2023, the market size reached $5.04 billion.
    • Expected to grow to $5.6 billion in 2024 at a CAGR of 11.3%.
  2. Forecasted Growth:
    • Estimated to reach $8.32 billion by 2028 at a CAGR of 10.4%.
    • Attributes include rise in customer expectations, focus on sustainability and energy efficiency, smart metering and IoT integration, demand for data analytics, and transition to cloud-based solutions.

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Surge In Cloud Deployment Propels Growth Of The Utility Billing Software Market
Cloud Deployment Driving Forces

  • Simplified management of end-to-end processes
  • Increased agility and scalability
  • Enhanced security measures

Market Insights

  • Survey findings indicating widespread cloud adoption
  • Major companies leading the market

Advanced Utility Systems Launches Cloud-Based Infinity CIS, Revolutionizing Utility Billing Software Market
Technological Advancement as a Key Trend

  • Focus on innovation for market sustainability
  • Launch of Infinity Customer Information System (CIS) by Advanced Utility Systems

Key Features of Infinity CIS

  • Unrivaled functionality availability
  • Modern, cloud-based platform enhancing customer experience
  • Role in revolutionizing utilities’ operations

AMCS Acquires Utilibill To Enhance Presence In Global Water And Energy Industries
Market Expansion Through Acquisition

  • AMCS’s strategic move to expand operations
  • Acquisition of Utilibill Pty Ltd to strengthen foothold in water and energy sectors

Implications of Acquisition

  • Utilibill’s cloud-based billing platform complementing AMCS’s offerings
  • Potential for increased market penetration and growth

Segmentation Insights
Understanding Market Segments

  • By Type: Platform as a Service, Infrastructure as a Service, Software as a Service
  • By Deployment Mode: On-Premises, Cloud-Based
  • By End-User: Water, Power Distribution, Oil and Gas, Telecommunication, Other End-Users

Regional Dynamics

  • North America leading in 2023
  • Asia-Pacific poised for fastest growth

Conclusion: Navigating Future Trajectories
The utility billing software market is set for significant expansion, fueled by technological advancements, increasing demand for sustainability, and cloud deployment. As major players continue to innovate and expand their offerings, the market is poised to witness transformative growth, catering to the evolving needs of utilities across various sectors globally.

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The Utility Billing Software Global Market Report 2024  provides an in-depth analysis on the utility billing software market size, trends and drivers, opportunities, strategies, and companies analysis. The countries covered in the utility billing software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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