Oracle (US) and SAP (Germany) are Leading Players in Customer Information System Market
The Customer Information System (CIS) market size is expected to grow from USD 877 million in 2018 to USD 1,539 million by 2023, at a Compound Annual Growth Rate (CAGR) of 11.9% during the forecast period. The major driving factors in the CIS market are the growing global utility consumption, emerging cloud and IoT technologies, and smart city initiatives.
Major CIS market vendors include Oracle (US), SAP (Germany), Itineris (Belgium), Hansen (Australia), Fluentgrid (India), Open International (US), Gentrack (New Zealand), Milestone Utility Services (US), Cayenta (British Columbia), Advanced Utility Systems (Canada), Engineering (Lazio), Indra (Spain), Ferranti (Belgium), NorthStar Utilities (Canada), Vertexone (US), IBM (US), Wipro (India), Agility CIS (New Zealand), Avertra (US), ATS (US), Cogsdale (Canada), FATHOM (US), EG (Denmark), efluid (France), and Hydro-Comp (Cyprus). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global CIS market. New product launches, partnerships, and agreements have been the most favored strategy adopted by the major players from 2016 to 2018, which helped them innovate their offerings and broaden their customer base.
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Oracle is a leading player in the global CIS market. The company provides Oracle Utilities Customer Care and Billing (CC&B), which is a CIS solution that is designed to meet the current and future needs of all utilities customers. CC&B addresses all the customer issues at a rapid pace with an intuitive user-interface and a 360⁰ view of the customer, along with managing every stage of the customer life cycle from service connection to payments processing. The company has adopted both organic and inorganic growth strategies to expand its presence in the market. For instance, in May 2018, Oracle Utilities announced Oracle Utilities Customer Cloud Service, the industry’s end-to-end Software-as-a-Service (SaaS) customer platform, to offer CIS and meter data management in one solution. In addition, in May 2016, Oracle acquired Opower, the provider of customer engagement and energy efficiency cloud services to utilities.
SAP is one of the leading vendors in the CIS market. The company has adopted both organic and inorganic growth strategies to enhance its presence and broaden its customer base in the global CIS market. In June 2018, SAP announced that it has doubled the number of digital innovation solutions and announced the launch of the SAP Leonardo Partner Medallion Initiative. The new initiative offers 13 SAP partners to develop and deliver new industry innovation solutions to assist customers across the globe. Moreover, in September 2017, SAP announced its acquisition of Gigya, a market leader for customer identity and access management. The company integrated Gigya into SAP Hybris software to offer better profiles of customers, and personalize sales, services, and marketing.
Related Reports:
Customer Information System Market by Component (Solutions and Services), Application (Water and Wastewater Management, Electricity and Power Management, and Utility Gas Management), Deployment Type, and Region - Global Forecast to 2023
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