Customer Information Systems Market Expected to Grow by $378.37 Million | Growing demand for cloud-based CIS offerings to drive growth

NEW YORK, March 4, 2022 /PRNewswire/ — The customer information systems market will be driven by factors such as growing demand for cloud-based CIS offerings. The market size is expected to increase by $378.37 million from 2021 to 2026, registering a CAGR of 7.38%. Technavio analyzes the market by deployment (cloud and on-premises) and by geography (North AmericaACPA, Europe, South Americaand Middle East and Africa).

Technavio has announced its latest market research report titled Customer Information System Market by Deployment and Geography – Forecast and Analysis 2022-2026

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The customer information system market covers the following areas:

Sizing of the customer information system market
Customer Information System Market Forecast
Customer information system market analysis

Drivers and Challenges

the growing demand for cloud-based CIS offerings is one of the growth drivers of the customer information systems market. Businesses have increased their IT spending in cloud computing strategies. This should accelerate the adoption of CIS. The growing adoption of cloud computing services around the world has created growth opportunities for cloud-based applications. The advantages of cloud computing, such as scalability, reliability, and high availability of resources, are driving companies to adopt cloud architecture for their business models. Adopting cloud computing also reduces the need for a dedicated IT support team and can lower operational costs. The increase in the volume of customer information and the lack of storage encourage companies to adopt CIS. It provides scalability and flexibility as well as business benefits such as process alignment, business consistency, and collaborations across an enterprise. These advantages increase the demand for CIS. CIS adoption is also expected to grow among SMEs in all sectors, such as utilities and gas industries.

the data security issues and cyberattacks will challenge the customer information system market over the forecast period. Enterprises, including SMEs and large enterprises, are using cloud-based CIS, which provide various advantages such as lower initial costs, flexibility, scalability, and ease of use. Although CIS solutions offer many advantages, there are security and privacy issues. Businesses are facing lost revenue and significant issues in maintaining production efficiency due to cyberattacks. These attacks result in loss of sensitive data, financial theft or disruption of business operations. Hackers target CIS applications by accessing corporate networks, exposing customer information. Hence, data security issues are expected to limit the growth of the global customer information system market.

Some companies mentioned with their offers

  • Agility CIS Ltd – The company offers electronic billing that provides utility billing, new energy innovation, customer management, exception management.

  • Efluid SAS – The company allows energy, water or heating authorities to take charge of the entire technical chain and manage customer relations with a 360-degree view.

  • Gentrack Group Ltd. – The company offers products and services that provide an excellent customer experience and enable customers to make informed decisions about energy consumption.

  • Harris Computer – The company offers CIS Infinity which eliminates costly custom coding projects using sophisticated configuration tools.

  • International Business Machines Corp. – The company offers the 8.1.0 Customer Information System, which includes user-defined edit criteria, unlimited activity entry, integrated name and company search.

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Customer Information System Market Scope

Report cover

Details

Page number

120

Year of reference

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerate at a CAGR of 7.38%

Market Growth 2022-2026

$378.37 million

Market structure

Fragmented

Annual growth (%)

6.56

Regional analysis

North America, APAC, Europe, South America, Middle East and Africa

Successful market contribution

North America at 49%

Main consumer countries

United States, China, Japan, United Kingdom and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Agility CIS Ltd., Efluid SAS, Gentrack Group Ltd., Hansen Technologies Ltd., Harris Computer, International Business Machines Corp., Itineris NV, Open International USA, Oracle Corp., Salient CRGT Inc., SAP SE and Wipro Ltd.

Market dynamics

Parent Market Analysis, Market Growth Drivers and Barriers, Fast and Slow Growing Segment Analysis, Impact of COVID-19 and Future Consumer Dynamics, Market Condition Analysis for the Forecast Period

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Main topics covered:

1. Summary

2 Market landscape

3 Market sizing

4 Five forces analysis

5 Market Segmentation by Deployment

6 Customer Landscape

7 Geographic landscape

8 drivers, challenges and trends

9 Supplier landscape

10 Vendor Analysis

11 Appendix

About Us
Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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Technavio (PRNewsfoto/Technavio)

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