The customer information system global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Customer Information System Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The customer information system market size has grown rapidly in recent years. It will grow from $1.29 billion in 2023 to $1.46 billion in 2024 at a compound annual growth rate (CAGR) of 13.0%. The growth in the historic period can be attributed to data accuracy initiatives, user interface upgrades, security overhauls, scalability enhancements, and integration with CRM.
The customer information system market size is expected to see rapid growth in the next few years. It will grow to $2.41 billion in 2028 at a compound annual growth rate (CAGR) of 13.4%. The growth in the forecast period can be attributed to AI and predictive analytics integration, enhanced mobile accessibility, IoT integration, advanced personalization capabilities, and continuous performance monitoring. Major trends in the forecast period include hyper-personalization, emphasis on explainable AI, decentralized identity management, edge computing for real-time processing, and digital twin technology.
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Scope Of Customer Information System Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Customer Information System Market Overview
Market Drivers –
The growing global utility consumption is expected to propel the growth of the customer information system market going forward. Utility consumption refers to the amount of resources, such as electricity, water, gas, or other essential services, utilized by residential, commercial, or industrial consumers. Growing global utility consumption can be attributed to increasing infrastructure investment, industrialization, and changing lifestyle and consumer patterns. A customer information system for utility consumption enables efficient tracking and management of customer usage data, enhancing service delivery and resource optimization. For instance, in December 2023, according to the International Energy Agency (IEA), a France-based intergovernmental organization, total U.S. electricity end-use consumption in 2022 was about 3.2% higher than in 2021. Additionally, residential sector retail electricity sales saw a 2.6% increase compared to 2021, while commercial sector retail electricity sales experienced 4.7% growth from 2021. Therefore, growing global utility consumption is driving the growth of the customer information system market.
Market Trends –
Major companies operating in the customer relationship management market are focused on developing advanced software, such as AI Cloud, to optimize customer interactions and improve overall efficiency. AI Cloud is a customer relationship management suite that aims to revolutionize customer relationship management interactions using generative AI models such as Einstein GPT to boost productivity and efficiency. For instance, in June 2022, Salesforce Inc., a US-based cloud-based software company, launched AI Cloud, a suite of capabilities within a customer relationship management platform to enhance customer relationship management. It includes auto-generating personalized emails, chat replies, and content. Developers can benefit from auto-generating code and predicting bugs. This advancement signifies a shift towards more automated and personalized customer interactions, enabling businesses to streamline processes and provide tailored experiences at scale.
The customer information system market covered in this report is segmented –
1) By Component: Solution, Services
2) By Deployment: Cloud, On-premises
3) By Service: 24/7 Assistance Services, Product Update Services, Repairing And Testing Services
4) By End-user: Water And Wastewater Management, Energy And Utility, Electricity And Power Management
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Regional Insights –
North America was the largest region in the customer information system market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the customer information system market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies –
Major companies operating in the customer information system market are International Business Machines Corporation, Oracle Corporation, Schneider Electric, SAP SE, HCL Technologies, Wipro Limited, Indra Company Inc., Agility Customer Information System, Hansen Technologies Corporation, Gentrack Limited, Fluentgrid Limited, Avertra Corporation, Harris Computer Systems, Cayenta CIS, Vertexone, Itineris NV, Open International LLC, Hydro Comp Enterprises Ltd., Ferranti Computer Systems NV, Cogsdale Corporation, Northstar Utilities Solutions, Advanced Utility Systems, Efluid SAS, Milestone Utility Services Inc., Cognera Corporation
Table of Contents
1. Executive Summary
2. Customer Information System Market Report Structure
3. Customer Information System Market Trends And Strategies
4. Customer Information System Market – Macro Economic Scenario
5. Customer Information System Market Size And Growth
…..
27. Customer Information System Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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