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Utility Customer Information Systems and Analytics Spending Is Expected to Total Nearly $37 Billion from 2014 to 2023, According to Navigant ResearchA recent report from Navigant Research analyzes the global market for billing and customer information system (CIS) solutions for electric utilities, including global market forecasts for CIS software purchases and upgrades, services, maintenance fees, software-as-a-service, and analytics through 2023. With a broad diversity of customer situations to account for, billing and customer care is often a complex issue for utilities. This, combined with a changing competitive landscape, increasing customer expectations, and a growing number of media for customer engagement, is expected to prompt many utilities to upgrade their CIS solutions in the coming decade. Click to tweet: According to a recent report from Navigant Research, global spending on utility CISs and analytics is expected to total nearly $37 billion from 2014 to 2023. "Billing and customer information is at the heart of most businesses, but for the electric utility industry, changes in the market environment, the advent of distributed generation (DG), and smart grid technologies, as well as energy efficiency mandates and deregulation, have converged to place growing strains on legacy systems," says Richelle Elberg, principal research analyst with Navigant Research. "Add in utilities' increasing needs for effective customer engagement and the desire for integration with digital platforms, such as mobile devices, web portals, and social media, and utilities face a perfect storm of new requirements for billing and CIS solutions." While these factors might indicate to some that a vigorous upgrade market for modern CISs is on the horizon, the push and pull of new demands versus cost and risk have resulted in a relatively flat market in recent years. Accordig to the report, though, the market's dynamics are expected to continue to evolve, and Navigant Research expects accelerating growth in CISs and related services later this decade, particularly in North America and Europe. The report, Electric Utility Billing and Customer Information Systems, analyzes the global market for billing and CIS solutions for electric utilities. It provides an analysis of market drivers, challenges, and trends related to the adoption of off-the-shelf CISs and managed services for billing, customer engagement, and related analytics. Global market forecasts for CIS software purchases and upgrades, services, maintenance fees, SaaS (News - Alert), and analytics extend through 2023. The report also reviews the key technologies related to billing and CIS solutions and provides profiles of dominant vendors for different regions, product offerings, and utility types. An Executive Summary of the report is available for free download on the Navigant Research website. About Navigant Research Navigant Research, the dedicated research arm of Navigant, provides market research and benchmarking services for rapidly changing and often highly regulated industries. In the energy sector, Navigant Research focuses on in-depth analysis and reporting about global clean technology markets. The team's research methodology combines supply-side industry analysis, end-user primary research and demand assessment, and deep examination of technology trends to provide a comprehensive view of the Smart Energy, Smart Utilities, Smart Transportation, and Smart Buildings sectors. Additional information about Navigant Research can be found at www.navigantresearch.com. About Navigant Navigant is a specialized, global professional services firm dedicated to assisting clients in creating and protecting value in the face of critical business risks and opportunities. Through senior level engagement with clients, Navigant professionals deliver expert and advisory work through implementation and business process management services. The firm combines deep technical expertise in Disputes and Investigations, Economics, Financial Advisory and Management Consulting, with business pragmatism to address clients' needs in highly regulated industries, including Construction, Energy, Financial Services and Healthcare. More information about Navigant can be found at navigant.com. * The information contained in this press release concerning the report, Electric Utility Billing and Customer Information Systems, is a summary and reflects Navigant Research's current expectations based on market data and trend analysis. Market predictions and expectations are inherently uncertain and actual results may differ materially from those contained in this press release or the report. Please refer to the full report for a complete understanding of the assumptions underlying the report's conclusions and the methodologies used to create the report. Neither Navigant Research nor Navigant undertakes any obligation to update any of the information contained in this press release or the report. ###
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