The global Utility Billing Software Market was worth USD xx million in 2020, and is foreseen to reach a valuation of USD xx million by 2025 with an expansion rate (CAGR) of xx% between 2021 and 2026.
Utility billing software is a tool used to manage utility operations such as electricity, waste management, water, sewer, gas, and other customer information and billing functions for utilities. These organizations implement utility billing systems to improve productivity and profitability by integrating service orders, meter maintenance history and scheduling, in addition to billing and customer management processes.
The coronavirus pandemic is having its immense impact on all economies of the world. The whole production process has been halted as the governments of several regions have implemented lockdown conditions to curb the spread of the COVID-19. Therefore, it disrupts the market for utility billing software around the world.
Recent Developments in Global Utility Billing Software Market
Global Utility Billing Software Market Growth
The convergence of digital devices and increased automation of the billing process are driving the growth of the global utility billing software market.
Drivers
The rapidly changing industrial environment, the presence of high-end digital consumers, and the fusion of digital devices and technologies with traditional business processes make the utility industry increasingly complex. The highly scalable utility billing software also features the ability to manage customer information and helps improve customer service by enabling utilities to serve consumers more effectively and maintain a competitive advantage. All these factors support the growing demand for a variety of utility billing software. One of the important factors driving the global utility billing software market, the legacy billing system upgrade is on the rise. Today's legacy customer information systems and billing systems are not adequate in the long term to provide the same level of service as expectations for effective service increase. Utilities are turning to a range of smart billing software products that can handle all aspects of the service lifecycle, from valuation, bonding and meter reading to invoice generation, bill processing payments, collection and field work. Utilities have understood that their existing customer information and billing systems are not adequate in the long term to provide services as expectations for effective services have increased. Therefore, utilities are turning to smart billing software products that can handle all important aspects of the service life cycle, from connecting, evaluating and reading meters to generating invoices, processing payments, collection and field work. The surge in the adoption of smart grid technologies has augmented the complexity levels of the utility billing software business. Due to changing business dynamics, many services are turning to more flexible and scalable utility billing software. This particular trend is supposed to increase in the coming years and a large number of utilities will start adopting utility billing software.
Furthermore, as the adoption of smart grid technology in power supplies such as smart meters increases the level of complexity in billing and collection systems increases, leading many companies around the world to realize the transition to more flexible and scalable utility billing software. The rapidly changing industrial environment, the convergence of traditional business processes and digital devices and technologies, and the presence of high-end digital consumers make these two processes increasingly complex in the utility industry. The demand for more proprietary products that meet the specific requirements of these end-use areas is growing significantly around the world. Utility Billing Software, especially in the developing world, growing improvements are one of the key factors driving the global utility billing software market. In response to changing business dynamics, many utilities have already turned to scalable and adaptable utility billing software. This trend is likely to intensify in the future and more utilities will start adopting utility billing software. Various features such as account management, meter management, customer management, metering and billing management, penalty/block processing, billing without metering, and online payment processing are some of the factors driving the growing market demand for utility billing software. The growth of the utility billing software business is also accelerating as the shift from traditional billing to smart billing increases.
Global Utility Billing Software Market Segmentation
Regional Analysis
The global utility billing software market has been geographically segmented into Asia Pacific Utility Billing Software, Europe Utility Billing Software, North America Utility Billing Software, and other regions.
The Utility Billing Software market is dominated by developed regions such as North America and Europe due to the availability of funds to support the region's advanced utility infrastructure and the transition to operational advancement. North America is expected to have significant market share due to the availability of funds to support the region's advanced utility infrastructure and transition to operational advancement. Additionally, the critical vessel encapsulation infrastructure facilitates commercialization of these solutions. Utilities in the region focus on effective consumer service to stay ahead of fierce competition. Utility Billing Software in developed countries focus on efficient consumer service to stay ahead of fierce competition. Advanced billing software is standard in the region's utility industry due to the high integration of digital platforms such as social media, web portals, mobile devices, and the presence of digitally savvy consumers. The global utility billing software market will see significant growth in the Asia Pacific region. Increased investment in network infrastructure and prosperous growth in the communications and networking industry will drive growth.
Leading Companies
Major players in the global Utility Billing Software market includes Cogsdale, SkyBill SIA, Continental Utility Solutions, Enghouse Networks, Link Computer Corporation, Utilitybilling.com, Snappii Apps, Creative Technologies, TAK Technology, Redline Data Systems, Nobel Systems, Intedata Systems, Crestline Software, Starnik, SilverBlaze, United Systems Technology, SmartGridCIS, Energy Hippo, Banyon Data Systems, Oracle, Oak Bay Technologies and ABIS.
1. Introduction
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.1.1 Drivers
4.1.2 Restaints
4.1.3 Opportunities
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.2 Products/Service
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Utility Billing Software Market, By Deployment Type
6.1.1 Cloud
6.1.2 On-Premises
6.1.3 Market Size Estimations & Forecasts (2021-2026)
6.1.4 Y-o-Y Growth Rate Analysis
6.1.5 Market Attractiveness Index
6.2 Utility Billing Software Market, By Application
6.2.1 Gas Station
6.2.2 Power Company
6.2.3 Drinking Water Company
6.2.4 Wind Energy
6.2.5 Market Size Estimations & Forecasts (2021-2026)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.1.1 USA
7.2.1.2 Canada
7.2.2 By Deployment Type
7.2.3 By Application
7.3 Europe
7.3.1 By Country
7.3.1.1 UK
7.3.1.2 France
7.3.1.3 Germany
7.3.1.4 Spain
7.3.1.5 Italy
7.3.1.6 Rest of Europe
7.3.2 By Deployment Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
7.4.1.1 China
7.4.1.2 India
7.4.1.3 Japan
7.4.1.4 South Korea
7.4.1.5 South East Asia
7.4.1.6 Australia & NZ
7.4.1.7 Rest of Asia-Pacific
7.4.2 By Deployment Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
7.5.1.1 Brazil
7.5.1.2 Argentina
7.5.1.3 Mexico
7.5.1.4 Rest of Latin America
7.5.2 By Deployment Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
7.6.1.1 Middle East
7.6.1.2 Africa
7.6.2 By Deployment Type
7.6.3 By Application
8. Key Player Analysis
8.1 Cogsdale
8.1.1 Business Description
8.1.2 Products/Service
8.1.3 Financials
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 SkyBill SIA
8.3 Continental Utility Solutions
8.4 Enghouse Networks
8.5 Link Computer Corporation
8.6 Utilitybilling.com
8.7 Snappii Apps
8.8 Creative Technologies
8.9 Redline Data Systems
8.10 Crestline Software
9. Market Outlook & Investment Opportunities
Appendix
List of Tables
List of Figures
