Global Utility Billing Software Market (2022 to 2027) – Industry Trends, Share, Size, Growth, Opportunity and Forecasts – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Utility Billing Software Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” report has been added to ResearchAndMarkets.com’s offering.
The global utility billing software market reached a value of US$ 4.61 Billion in 2021. Looking forward, the publisher expects the market to reach a value of US$ 7.73 Billion by 2027 exhibiting a CAGR of 8.60% during 2022-2027.
Companies Mentioned
- Continental Utility Solutions Inc.
- ePsolutions Inc.
- Exceleron Software
- Harris Computer (Constellation Software Inc.)
- Jayhawk Software Inc.
- Jendev Corporation
- Methodia Group
- Oracle Corporation
- Sigma Software Solutions Inc.
- SkyBill SIA
- Utilibill Pvt. Ltd.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.
Utility billing software (UBS) refers to a specially designed platform that is deployed for invoicing gas, water, and electricity services. It aids in generating bills, posting cash, resolving user inquiries, integrating finances, managing accounts, and examining delinquent accounts, thus reducing the risks of fraudulent activities. The UBS also assists power companies in improving customer support, enhancing accuracy, reducing cost-to-serve, and strategizing the marketing campaigns. At present, UBS is commercially categorized based on its varying deployment models, such as cloud-based, on-premises, and build-your-own solutions.
The increasing need to enhance the overall operational efficiency at reduced costs is currently facilitating the adoption of UBS solutions across various power distribution companies. In line with this, the sudden outbreak of the COVID-19 pandemic and the consequent implementation of lockdown has led to a shift from conventionally used bill paying methods toward online bill paying applications, which is acting as another major growth-inducing factor.
Furthermore, significant improvements in legacy billing systems, such as the integration of cloud computing and the Internet of Things (IoT) solutions, to meet the evolving dynamics of utility industry is contributing to the market growth. The introduction of smart grid technology and smart meters for promoting efficient electricity transmission, reducing the utility power costs, and restoring power after disturbances is propelling the market growth significantly.
Other factors, including strategic collaborations between companies to launch more advanced cloud-based electricity billing software, along with the extensive utilization of smartphones, tablets, laptops, and desktops to support digital payments and the increasing accessibility to the high-speed internet, especially in the developing region, are creating a positive outlook for the market.
Key Questions Answered in This Report:
- How has the global utility billing software market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global utility billing software market?
- What are the key regional markets?
- What is the breakup of the market based on the deployment mode?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the end user?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global utility billing software market and who are the key players?
- What is the degree of competition in the industry?
Key Topics Covered:
1 Preface
2 Scope and Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Utility Billing Software Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Deployment Mode
7 Market Breakup by Type
8 Market Breakup by End User
9 Market Breakup by Region
10 SWOT Analysis
11 Value Chain Analysis
12 Porters Five Forces Analysis
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/ji61ui
Contacts
ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
