Utility Bill Management System Market Size, Share, Segmentation, Trends, Growth Opportunities, and Forecast 2030

Utility Bill Management System Market

Utility Bill Management System Market Size - By Component (Software and Services), By Application (Home Energy Management System, Industrial Energy Management System, and Building Energy Management System), By End-User (Residential and Commercial), And By Region- Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026

Published Date: 29-Apr-2021 Category: Energy & Mining Report Format : PDF Pages: 150 Report Code: ZMR-6184 Status : Published

The global Utility Bill Management System market accrued earnings worth approximately 3.5(USD Billion) in 2019 and is predicted to gain revenue of about 7.6 (USD Billion) by 2026, is set to record a CAGR of nearly 5.2% over the period from 2020 to 2026.

Utility Bill Management System Market

Utility Bill Management System Market: Industry Perspective

The Global Utility Bill Management System market accrued earnings worth approximately 3.5(USD Billion) in 2019 and is predicted to gain revenue of about 7.6 (USD Billion) by 2026, is set to record a CAGR of nearly 5.2% over the period from 2020 to 2026. The report offers an assessment and analysis of the Utility Bill Management System market on a global and regional level. The study offers a comprehensive assessment of the market competition, constraints, revenue estimates, opportunities, evolving trends, and industry-validated data. The report provides historical data from 2017 to 2019 along with a forecast from 2020 to 2026 based on revenue (USD Billion).

Utility Bill Management System Market: Overview

A utility bill management system is a kind of computer-aided tool that can be utilized by the electric utility grid for optimizing, regulating, and monitoring the transmission and performance of the system. The beneficial features of the system include expense tracking, budget creation, invoice management, budget tracking, contract management, and benchmarking. These systems also help in fault determination, load forecasts, state emissions, and data analytics.

Utility Bill Management System Market: Growth Drivers

The massive necessity of exact bill creation coupled with an increase in the acceptance of smart meters by emerging economies will drive the expansion of the utility bill management system industry over 2020-2026. Apart from this, a surge in the charges of electricity bills and the requirement for proficient energy tools will embellish the business landscape over the forecast timeline. With the incremental surge in energy crises and the need for huge electricity supply for factories and the manufacturing sector in developing countries, the market for utility bill management systems is likely to expedite in the near future. Humungous demand for utility billing software due to its proficiency in handling end-user data along with a focus on enhancing customer service will speed up the growth of the industry. Demand for effective account management, consumer management, metering & billing management, online payment processing, processing of digital payments, and penalty block processing will elevate utility bill management system industry value within the next few years.

North American Market Size To Witness Exponential Growth By 2026

The regional market expansion over the assessment period is due to the presence of advanced utility infrastructure in the countries such as the U.S. Furthermore, the use of standard protocols for billing utility bills in the U.S. is will pave a way for regional market growth.  Big data, machine learning, AI, and Deep Learning have made utility bill management systems more popular in the region. Additionally, a rise in investments in improving network infrastructure facilities will embellish the utility bill management system market landscape in North America in the forthcoming years.

Report Scope :

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Key players profiled in the study include SkyBill SIA, Snappii Apps, Cogsdale, Enghouse Networks, Creative Technologies, Intedata Systems, TAK Technology, United Systems Technology, Oracle, ABIS, SmartGridCIS, and Banyon Data Systems.

The global Utility Bill Management System Market is segmented as follows:

By Application

By Component

  • Software
  • Services

By End-User

  • Residential
  • Commercial

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of The Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Massive necessity of exact bill creation coupled with increase in the acceptance of smart meters by emerging economies will drive the expansion of utility bill management system industry over 2020-2026. Apart from this, surge in the charges of electricity bills and requirement of proficient energy tools will embellish the business landscape over the forecast timeline. With incremental surge in energy crises and need for huge electricity supply for factories and manufacturing sector in developing countries, the market for utility bill management system is likely to expedite in the near future. Humungous demand for utility billing software due to its proficiency in handling end-user data along with focus on enhancing customer service will speed up the growth of the industry. Demand for effective account management, consumer management, metering & billing management, online payment processing, processing of digital payments, and penalty block processing will elevate utility bill management system industry value within the next few years.

According to Zion market research report, the global Utility Bill Management System market accrued earnings worth approximately 3.5(USD Billion) in 2019 and is predicted to gain revenue of about  7.6 (USD Billion) by 2026, is set to record a CAGR of nearly 5.2% over the period from 2020 to 2026.

Asia Pacific continent will contribute lucratively towards the global market size over the estimated timeline. The regional market surge is due to presence of advanced utility infrastructure in the countries such as the U.S. Furthermore, use of standard protocols for billing utility bills in the U.S. is will pave a way for the regional market growth. Big data, machine learning, AI, and Deep Learning have made utility bill management systems more popular in the region. Additionally, rise in the investments for improving network infrastructure facility will embellish the utility bill management system market landscape in North America during the forthcoming years.

The key market participants include SkyBill SIA, Snappii Apps, Cogsdale, Enghouse Networks, Creative Technologies, Intedata Systems, TAK Technology, United Systems Technology, Oracle, ABIS, SmartGridCIS, and Banyon Data Systems.

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